Transactions:
A) must be recorded for every company event.
B) provide objective information about the financial impact on a company.
C) are recorded only if the amounts are significant to the company.
D) only have one side that needs to be recorded.

Question

Quizplus · Accepted Answer

Transactions provide objective information about the financial impact on a company, as they are recorded in the financial statements to reflect the company's financial position and performance.