Which of the following is not considered to be a recordable transaction? A)Signing a contract to have an outside cleaning service clean offices nightly. B)Paying employees their wages. C)Selling stock to investors. D)Buying equipment and agreeing to pay a note payable and interest at the end of a year.

Question

Quizplus · Accepted Answer

Transactions that are considered recordable are those that involve an exchange of economic value, such as paying wages (B), selling stock (C), and buying equipment with a promise to pay later (D). Signing a contract for services (A) does not itself represent an exchange of economic value until the service is performed and payment is made or incurred, making it not a recordable transaction at the moment of signing.

Which of the Following Is not Considered to Be