Question

A transaction is concerned with money and money 's worth.

• A. True
• B. False

Answer 1

The correct option is A True

A transaction is an agreement between a buyer and a seller to exchange goods, services or financial instruments. Transaction is a business event that has a monetary impact on an entity 's financial statements. For example - paying a supplier for services rendered or for supply of goods, paying an employee for hours work etc. This all are transactions and involve money and money' s worth.