SSC MCQ Question Ans. Transaction

SSC MCQ Question Ans. Transaction. From the primitive ages, people felt the necessity of keeping accounts. In those days people used to exchange objects among them to meet their daily needs. The event that brings change to the financial position among people is known as the transaction. Therefore, it is seen that not all events are transactions. To get the real pen picture of the organization only the financial events are treated as transactions.

SSC MCQ Question Ans. Transaction

In modern society for recording accounts, transaction very is very important. Many events occur in business. However, not all these events can be recorded in the book of accounts. Only the events that are measurable in terms of money or something that brought changes financial position is to be treated as transactions.  For example, suppose Mr. Simanto bought an almirah with 5000 takas, again got himself injured coming from the shop. Both of these incidents are events. Only the first one is related to financial change and treated, as the transaction but the later has no relation to the financial matter and such should not be recorded as the transaction.

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