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Discussion questions 1. Indicate whether each of the following events is an internal transaction, an external transaction, or a non-transaction event. Explain your answer in
Discussion questions
1. Indicate whether each of the following events is an internal transaction, an external transaction, or a non-transaction event. Explain your answer in each case:
(a) Receipt of money from a customer in payment of services to be provided early in
the next accounting period.
(b) Equipment is used to provide a service for a customer
(c) The human resources department provided services to the customer service
department.
(d) A building owned by the business increased in value
(e) Received payment from a customer on account for services provided in the
previous accounting period.
(f) A prospective employee is interviewed and hired for a job
(g) Stationery supplies are used by an employee.
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