Question

1. Accounting records only those transactions and events which are of
__character.
(a) Qualitative (b) Quantitative (c) Both (d) None​

Answer 1

Answer:

b) Quantitative.

1. Accounting records only those transactions and events which are of Quantitative character.

Explanation:

Accounting is the process, where all the transactions are summarized, classified and recorded in the books of account on quantitative basis.

Quantitative basis means recording all transactions in terms of numbers expressly monetary values.

Quantitative methodology signifies the concept of money measurement. It helps to know the changes in numbers by converting to meaningful relationships i.e. percentages.

Answer 2

Answer: Quantitative character.

Explanation:

Accounting records only those transactions and events which are of Quantitative character.