Describe whether the following transactions are economic or
non-economic transactions and clarify the reason for it.
(1) Assets sold to Mira on credit for < 22,000.
< 8,000 paid for wages.
(3) An order is received to supply goods of 10,000.
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Answer:
1. Economic as there is outflow of asset to mira and inflow of debtor
2. Non economic as just order is received and there is no outflow or inflow
Explanation:
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