Question

distinguish between transaction and evnt?​

Answer 1

• Events are all incidents or occurrences that relate to the business or have an impact on the business of the entity. Transactions are those events which have immediate and measurable monetary impact on the books of accounts of the entity

Answer 2

Events are all incidents or occurrences that relate to the business or have an impact on the business of the entity.

Transactions are those events which have immediate and measurable monetary impact on the books of accounts of the entity.