Question: mcq 28. A business activity that does not involve an exchange of economic consideration between two parties is called a(n): A. Withdrawal. B. Account receivable.

mcq

28. A business activity that does not involve an exchange of economic consideration between two parties is called a(n): A. Withdrawal. B. Account receivable. C. Business transaction. D. Business event. E. Equity transaction. 29. Which of the following statements is correct regarding sales invoices? A. A sales invoice is a type of source document. B. Sellers use them for recording sales. C. Buyers use them for recording purchases. D. They are required for information to be objective. E. All of these answers are correct. 30. A business: A. Is one or more individuals selling products or services for profit. B. Can only have one legal form of organization. C. Can have adequate financial records without a formal accounting system. D. Has to issue shares before it opens. E. Is one or more individuals selling products Ir services for profit and has to issue shares before it opens

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