Question

Accounting records only the transaction of ................ nature​

Answer 1

Answer:

event

Explanation:

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Answer 2

Answer:

The accounting records only the transactions of financial nature

Explanation:

​​​​​​Accounting is art of recording, classifying, summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character and interpreting the results thereof.

​​​​​​One of the limitations of accounting is that it records only those transactions which are of financial nature. Any event/ thing/transaction that does not have any monetary value , cannot be recorded in the books of accounts.