Which of the following is NOT an accounting transaction?
A) A payment is made by cheque to Telstra.
B) The company is awarded a contract to build a bridge,with construction to commence in 12 months' time.
C) A creditor charges interest for late payment.
D) The payroll department issues a cheque to pay an employee.

Question

Quizplus · Accepted Answer

The awarding of a contract to build a bridge in the future is not an accounting transaction as it has not yet occurred. The other options involve actual financial transactions that would be recorded in the accounting records.

Which of the Following Is NOT an Accounting Transaction