All of the following are external events (transactions) except for A) a department store recognizing losses from shoplifting. B) a department store running ads in a local newspaper. C) a department store purchasing merchandise from a clothing manufacturer. D) a department store selling clothing to customers on credit.

Question

Quizplus · Accepted Answer

External events involve interactions between an entity and its environment, such as transactions with other entities. Recognizing losses from shoplifting is an internal event as it involves internal adjustments and does not involve an exchange or transaction with an external party.

All of the Following Are External Events (Transactions) except for