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Receipts and Payments Account

State true of...

Question

State true of false :
In Book - keeping & accountancy non- monetary transactions are also recorded.

A

True

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B

False

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Solution

The correct option is B False
Book-keeping & accountancy both only record the transaction which are related with money and money 's worth. It record transactions which are the agreements between a buyer and a seller to exchange goods and services for money.

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