Question: This question: 1 point(s) possible Submit quiz A potential customer is extremely interested in renting a bicycle from Toronto Island Bike Rentals. He emails

This question: 1 point(s) possible Submit quiz A potential customer is extremely interested in renting a bicycle from Toronto Island Bike Rentals. He emails his intention to rent a bike next month and sets and time for the rental. Would an accountant consider this event a transaction to be recorded in the accounting records? Explain. up the date An intention to rent is transaction because an event has When a source document is received or when cash changes hands, then that affects the financial position of the company and can be measured reliably. will have taken place. A

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