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Give two examples of transactions which are not recorded in accounting.

Posted by Rachana Dwivedi 4 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Gaurav Seth 4 years, 1 month ago

1) NON MONETARY TRANSACTIONS

For eg, A quarrel between the production manager and the sales manager will not be recorded since its monetary effect cannot be measured with a fair degree of accuracy.

2) PERSONAL TRANSACTIONS

For eg, Rent paid by the proprietor for his house from his own pocket will not be recorded in the books of accounts unless it is paid from the cash withdrawn from business.

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