CBSE · Class 11 · Accountancy · Introduction to AccountingWhich of the following events is recorded in accounting?
Step-by-Step Solution
Accounting records only those events and transactions that can be measured in terms of money. Therefore, the purchase of machinery for cash is recorded, whereas the resignation of an experienced manager is not recorded as a monetary transaction.
Detailed Options Breakdown
Option : Resignation of a skilled manager
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Introduction to Accounting.
Option 1: Purchase of machinery for cash (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 2: Strike by employees
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Introduction to Accounting.
Option 3: Quarrel between production head and sales head
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Introduction to Accounting.
💡 Study Guide: This question tests core syllabus concepts from Introduction to Accounting. For formulas, key summaries, and mock exam reference guides, read the full Introduction to Accounting Revision Notes.