Which of the following is not a transaction to be recorded in the accounting records of an entity? A. Investment of cash by the owners. B. Receipt of a plaque recognizing the firm's encouragement of employee participation in the United Way fund drive. C. Value of inventory held by the company D. Sale of product to customers.

Question

Karley Riggs

Business

4 March, 01:10

Which of the following is not a transaction to be recorded in the accounting records of an entity? A. Investment of cash by the owners. B. Receipt of a plaque recognizing the firm's encouragement of employee participation in the United Way fund drive. C. Value of inventory held by the company D. Sale of product to customers.

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Answers (1)

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Josue Larson · Answer 1

(B). Receipt of a plaque recognizing the firm's encouragement of employee participation in the United Way fund drive.

Explanation:

The accounting records of an entity or an organization contains information relating to financial transactions carried out by the organization.

Such information includes; sales of goods, cash investment and inventory value.

The Receipt of a plaque recognizing the firm's encouragement of employee participation in the United Way fund drive, will NOT be recorded in an entity's accounting records.