Question

Because cash transactions occur more frequently than other transactions, there is more chance for making recording errors affecting cash.
a. True
b. False

Answer 1

Cash transactions are more likely to be recorded incorrectly than other types of transactions since they happen more frequently.

What do you name a transaction?

A transaction is what? An executed contract between such a seller and a buyer to trade goods, services, or capital instruments in exchange for money is known as a transaction. The phrase is also frequently used in business accounting. In corporate bookkeeping, this easy notion could be difficult to apply.

Do you mean by transaction "payment"?

A transaction is the outcome of a contract between such a seller and a buyer. In a trade, the seller exchanges cash for the provision of goods, services, or other financial assets. A company's lifeblood is its financial activities, which enable them to produce a consistent revenue stream and manage cash flow.

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