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  • Fundamentals of Accounting - 1
  • What is/are the type(s) of transaction Purchased machiner...
Multiple choice

What is/are the type(s) of transaction Purchased machinery for Rs. 50,00,000 from ABC Machines Works, if the amount is paid by cheque?

  1. Cash transaction

  2. Credit transaction

  3. Both (1) & (2)

  4. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Credit transaction is a non-cash transaction, which never affect the balance of cash/bank.

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