An accountant records a transaction if ________ .

it is substantiated by a documentary evidence

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it has tax implication

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it is so required by the Management

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it is mandatory as per Statutory requirement

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Solution

The correct option is B it is substantiated by a documentary evidence
Any business transaction which occur during the course of business must have the documentary evidence. Since the accounts of the business need to be audited in future, all evidence must be available for records.

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An accountant records a transaction if ________ .

The correct option is B it is substantiated by a documentary evidenceAny business transaction which occur during the course of business must have the documentary evidence. Since the accounts of the business need to be audited in future, all evidence must be available for records.

The correct option is B it is substantiated by a documentary evidence
Any business transaction which occur during the course of business must have the documentary evidence. Since the accounts of the business need to be audited in future, all evidence must be available for records.