Question: please help Question 2 (10 Marks) Consider the following transactions below and explain using the definition of 'income' or 'expense' whether each transaction results in
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Question 2 (10 Marks) Consider the following transactions below and explain using the definition of 'income' or 'expense' whether each transaction results in income earned or an expense incurred. Should a transaction not be either income or an expense correctly classification the transaction give a reason why it is the case. 2.1. Company A buys a motor vehicle and pays R160 000 cash. 2.2. Company A sells inventory for R30 000 cash to customers. 2.3. Company A paid R900 for garden services. 2.4. Company A received R550 interest on a fixed deposit. 2.5. Company A buys inventory for R45 000 on credit. NNNNN
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