Question

2. Which of the following is not a characteristic of accounting?
(a) Recording non- monetary transactions (b) Classifying
(c) Analysis
(d) Summarising​

Answer 1

Answer:

a)- Recording non -monetary transactions.

Explanation:

this is not the characteristic of accounting

Answer 2

Recording non-monetary transaction is not a characteristic of

accounting.

• The basic definition of accounting stands as classifying analysing and summarising all the financial transactions of a company.
• This clearly defines that may be a transaction that may be significant to the firm will not be recorded in the books of accounts if it cannot be summarised in a financial way.
• For example, the death of the CEO of a company would heavily affect the working of the organisation, but this event would not be recorded in the books of account.
• On the other hand purchase of goods would be recorded in the books of accounts because it is a financial transaction.