Question

describe weather the following transaction are economy Or Non-economy transaction are clarify the reason for it:

1-assets sold to mira on credit for ₹22000

2-₹8000 paid for wages

3-an order is received to supply good of ₹10000

(I want 3 mark question)​

Answer 1

Answer:

so hard

Explanation:

it is very possible sorry

Answer 2

1 - Economy transaction,

2 - Economy transaction,

3 - Non-economy Transaction.

Explanation:

• An Economy transaction is when something of monetary value is delivered by one party to another.  

• Transactions that are reflected to have economic value include those in goods, services, income, and financial assets and liabilities.

• In the first two statements, we can clearly notice the involvement of money.

• Non-economy transactions are executed with the aim of providing facilities to others without any concern for monetary gain.

• Like in the third statement, there is no description of the payment received for delivering the goods.