Question

Which of the following transactions are not of financial character and why?
a. Purchase of asset on credit.
b. Strike by Employees.
c. Purchase of asses for cash
d. Withdrawing of money from business by the Proprietor
e. The manager was made captive for one hour by the employees for their demand.

Answer 1

Answer:

b.Strike by employees

e. the manager........

Answer 2

In this question, we need to identify the transaction which is not financial.

• Option B is correct i.e. Strike by employees.

• A financial transaction is an agreement, or communication, between a buyer and seller to exchange goods, services, or assets for payment.
• Any transaction involves a change in the status of the finances of two or more businesses or individuals.
• A financial transaction always involves one or more financial assets, most commonly money or another valuable

• Purchase of asset on credit is a financial transaction as the asset has come into valuable business.
• Purchase of asset for cash is also a financial transaction as the asset has come and gone as well.
• Withdrawal of money from a business by the proprietor is also a financial transaction.

PROJECT CPDE #SPJ3