Which of the following is NOT an accounting transaction?
A) A payment is made by cheque to Telstra.
B) A company is awarded a construction contract.
C) A creditor charges interest for late payment.
D) The bank informs you that a cheque has been dishonoured.

Question

Quizplus · Accepted Answer

Being awarded a construction contract is not an accounting transaction. It is a business event but does not involve any exchange of goods, services or money that would require recording in accounting records. On the other hand, A, C, and D all involve financial transactions that affect the accounting records of the business.

Which of the Following Is NOT an Accounting Transaction