What is the correct answer?


All events are transactions but all transactions are not events.

A. True

B. False

Correct Answer :

B. False

Related Questions

The aggregate of direct material, direct labour and direct expenses is… Net Realisable Value of an asset means Which of the following events is not a transaction? Mr.Customer purchased goods from Mr.Seller on credit. This is a/an The accounts of a company may be maintained using Single Entry System… The balance in the Cash Book represents net income. A part of the profit distributed to the shareholders is known as The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%.… The account which can never have a credit balance is All events are transactions but all transactions are not events. Expenditure, which result in acquisition of permanent assets, is a capital… Arrange the steps of accounting in sequential order - (i) Trial Balance;… The short description of a transaction written at the end of a journal… Cash payments are recorded on the _______________ of the Cash Book. All indirect expenses are charged against If the totals of debit and credit columns of a Trial Balance are equal,… An expenditure intended to benefit the current period is revenue expenditure. Bank Reconciliation statement is prepared to arrive at the Bank Balance. Copyright is an example of Deferred Revenue Expenditure is current year's revenue expenditure to… The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and… WIP stands for Choose the odd one out Providing depreciation ensures sufficient cash for asset replacement. Depreciation cannot be provided in case of loss, in a financial year. Capital of the business is an example of external liability. The first step of accountancy is Which of the following equation(s) is(are) true Fixed Assets are stated in the balance sheet at their market value. HUF stands for