Asked by Deija Williams on May 17, 2024
Verified
Which of the following is a business transaction?
A) purchase inventory on account
B) plan advertising for upcoming sale
C) give employees a raise beginning next month
D) submit estimate for construction project
Purchase Inventory
The process by which a business buys goods and materials for use in producing its products or for resale to customers.
Advertising
Advertising is the action of calling public attention to products, services, needs, etc., through paid announcements by an identified sponsor.
Business Transaction
Any activity or event that involves the exchange of goods, services, or funds between two or more parties that affects the financial position of a business.
- Differentiate among various kinds of transactions, including those not categorized as business transactions.
Verified Answer
AU
Alyson UteggMay 23, 2024
Final Answer :
A
Explanation :
Purchasing inventory on account is a transaction involving the exchange of goods for money, which is a common business transaction. B, C, and D are more related to business operations and planning rather than direct transactions.
Learning Objectives
- Differentiate among various kinds of transactions, including those not categorized as business transactions.