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Free accounting answers to accounting homework
All of the following are external events transaction except for:
A. a department store recognizing losses from shoplifting. B. a department store running ads in a local newspaper. C. a department store purchasing merchandise from a clothing manufacturer. D. a department store selling clothing to customers on credit. |
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Think about each situation. Which answers deals with people or organizations outside of the company and which answers deals with just the company internally.
A. This is a recorded transaction within the company only. B. The company is dealing with a newspaper, which is outside the company. C. The company is dealing with a manufacturer, which is outside the company. D. The company is dealing with customers, which is outside the company. |
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