MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Receipts and Payments Account

State true of...

Question

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

A

True

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

False

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

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.

Suggest Corrections

thumbs-up

0

Similar questions

Q. State whether the following statements are true or false :

In Book-keeping & Accountancy non-monetary transactions are also recorded.

Q. ____________ is an accounting concept states that only monetary transactions are recorded in the books of accounts.

Q. Book keeping records monetary transactions only.

Q. State whether the following statement is 'True' or 'False':
In accounting, all business transactions are recorded as having dual aspect.

Q. State whether True or False:
All transactions related to bank are recorded in the bank column of the cash book and these transactions are also recorded in the pass book by the bank.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Financial Statements of NPO

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Receipts and Payments Account

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon