Question

What are economic Events,
give two examples.
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Answer 1

Answer:

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All the events which can be measured in terms of money are classified as economic events and are recorded in the financial statements. It includes all the events like purchase of materials, sale of goods, acquisition of machinery, etc. which are measured in monetary terms and are recorded in the financial statements.

Answer 2

Answer:

All the events which can be measured in terms of money are classified as economic events and are recorded in the financial statement.

Explanation:

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