Question

Payment of monthly rent to landlord is non economic event, economic event, profit or none of these

Answer 1

Answer:

non-economic event may be the answer

Answer 2

Answer:

The correct option to this is - Economic event

Explanation:

Payment of monthly rent to landlord is economic event.

External Events are economic events that include transactions between a third party and a business. The landlord in this scenario is an outsider, and the rent is paid by the corporate organization; thus, this is an example of External Events. As a result, paying the landlord's monthly rent is an external event.

Therefore, Payment of monthly rent to landlord is External Event.

• An economic event is defined as an occurrence that has a monetary impact on a company organisation and comprises of transactions.

Any economic event that has an impact on the company's finances must be recorded in the accounting records. Accounting events involve things like registering an asset's depreciation, paying dividends to investors, purchasing resources from a supplier, and selling goods to a customer.

• A non-economic activity is one that is carried out for the aim of providing services to others without regard for financial benefit. Non-economic activities are those that are initiated for personal content or to meet human sensibilities.

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