All of the following events at a sandwich shop are transactions except a. A customer purchases a sandwich. b. A delivery of coffee beans purchased on account from the local roaster is received. c. A representative from the local university contacts the manager of the shop to get a list of catering services. d. The accountant for the sandwich shop pays the electric bill.

Question

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Answer 1

Textbook Question

Chapter 2, Problem 1QC

All of the following events at a sandwich shop are transactions except

a. A customer purchases a sandwich.
b. A delivery of coffee beans purchased on account from the local roaster is received.
c. A representative from the local university contacts the manager of the shop to get a list of catering services.
d. The accountant for the sandwich shop pays the electric bill.

Expert Solution & Answer

To determine

To identify: Which of the given option is not considered as an event.

Answer to Problem 1QC

c. A representative from the local university contacts the manager of the shop to get a list of catering services.

Explanation of Solution

A transaction is a business event which has a monetary value that creates an impact on the business. The process of identifying the economic effects of each transaction of the business is known as transaction analysis. Transactions always has two sides, they are,

Something is given, and
Something is received in return

Option “a, b, and d” are not correct answer as per above explanation, only option “c” is correct answer as per above explanation. Hence, the correct answer is option c.

Conclusion

Therefore, the correct option is (c), a representative from the local university contacts the manager of the shop to get a list of catering services.

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01:03

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Answer 2

Textbook Question

Chapter 2, Problem 1QC

All of the following events at a sandwich shop are transactions except

a. A customer purchases a sandwich.
b. A delivery of coffee beans purchased on account from the local roaster is received.
c. A representative from the local university contacts the manager of the shop to get a list of catering services.
d. The accountant for the sandwich shop pays the electric bill.

Expert Solution & Answer

To determine

To identify: Which of the given option is not considered as an event.

Answer to Problem 1QC

c. A representative from the local university contacts the manager of the shop to get a list of catering services.

Explanation of Solution

A transaction is a business event which has a monetary value that creates an impact on the business. The process of identifying the economic effects of each transaction of the business is known as transaction analysis. Transactions always has two sides, they are,

Something is given, and
Something is received in return

Option “a, b, and d” are not correct answer as per above explanation, only option “c” is correct answer as per above explanation. Hence, the correct answer is option c.

Conclusion

Therefore, the correct option is (c), a representative from the local university contacts the manager of the shop to get a list of catering services.

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01:03

Answer 3

Textbook Question

Chapter 2, Problem 1QC

All of the following events at a sandwich shop are transactions except

a. A customer purchases a sandwich.
b. A delivery of coffee beans purchased on account from the local roaster is received.
c. A representative from the local university contacts the manager of the shop to get a list of catering services.
d. The accountant for the sandwich shop pays the electric bill.

Expert Solution & Answer

To determine

To identify: Which of the given option is not considered as an event.

Answer to Problem 1QC

c. A representative from the local university contacts the manager of the shop to get a list of catering services.

Explanation of Solution

A transaction is a business event which has a monetary value that creates an impact on the business. The process of identifying the economic effects of each transaction of the business is known as transaction analysis. Transactions always has two sides, they are,

Something is given, and
Something is received in return

Option “a, b, and d” are not correct answer as per above explanation, only option “c” is correct answer as per above explanation. Hence, the correct answer is option c.

Conclusion

Therefore, the correct option is (c), a representative from the local university contacts the manager of the shop to get a list of catering services.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

01:03

Answer 4

Textbook Question

Chapter 2, Problem 1QC

All of the following events at a sandwich shop are transactions except

a. A customer purchases a sandwich.
b. A delivery of coffee beans purchased on account from the local roaster is received.
c. A representative from the local university contacts the manager of the shop to get a list of catering services.
d. The accountant for the sandwich shop pays the electric bill.

Expert Solution & Answer

To determine

To identify: Which of the given option is not considered as an event.

Answer to Problem 1QC

c. A representative from the local university contacts the manager of the shop to get a list of catering services.

Explanation of Solution

A transaction is a business event which has a monetary value that creates an impact on the business. The process of identifying the economic effects of each transaction of the business is known as transaction analysis. Transactions always has two sides, they are,

Something is given, and
Something is received in return

Option “a, b, and d” are not correct answer as per above explanation, only option “c” is correct answer as per above explanation. Hence, the correct answer is option c.

Conclusion

Therefore, the correct option is (c), a representative from the local university contacts the manager of the shop to get a list of catering services.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

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Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

To identify: Which of the given option is not considered as an event.

Answer to Problem 1QC

c. A representative from the local university contacts the manager of the shop to get a list of catering services.

Explanation of Solution

A transaction is a business event which has a monetary value that creates an impact on the business. The process of identifying the economic effects of each transaction of the business is known as transaction analysis. Transactions always has two sides, they are,

Something is given, and
Something is received in return

Option “a, b, and d” are not correct answer as per above explanation, only option “c” is correct answer as per above explanation. Hence, the correct answer is option c.

Conclusion

Therefore, the correct option is (c), a representative from the local university contacts the manager of the shop to get a list of catering services.

Answer 8

Expert Solution & Answer

To determine

To identify: Which of the given option is not considered as an event.

Answer to Problem 1QC

c. A representative from the local university contacts the manager of the shop to get a list of catering services.

Explanation of Solution

A transaction is a business event which has a monetary value that creates an impact on the business. The process of identifying the economic effects of each transaction of the business is known as transaction analysis. Transactions always has two sides, they are,

Something is given, and
Something is received in return

Option “a, b, and d” are not correct answer as per above explanation, only option “c” is correct answer as per above explanation. Hence, the correct answer is option c.

Conclusion

Therefore, the correct option is (c), a representative from the local university contacts the manager of the shop to get a list of catering services.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

To identify: Which of the given option is not considered as an event.

Answer 12

Answer to Problem 1QC

c. A representative from the local university contacts the manager of the shop to get a list of catering services.

Answer 13

Explanation of Solution

A transaction is a business event which has a monetary value that creates an impact on the business. The process of identifying the economic effects of each transaction of the business is known as transaction analysis. Transactions always has two sides, they are,

Something is given, and
Something is received in return

Option “a, b, and d” are not correct answer as per above explanation, only option “c” is correct answer as per above explanation. Hence, the correct answer is option c.

Answer 14

Conclusion

Therefore, the correct option is (c), a representative from the local university contacts the manager of the shop to get a list of catering services.

Answer 15

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Answer to Problem 1QC

Explanation of Solution

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