An economic event or condition that directly changes the financial condition of the company or directly affects its results of operations and should be recorded is called a/an ____________________. Group of answer choices accounting concept business transaction communication economic transaction

An economic event or condition that directly changes the financial condition of the company or directly affects its results of operations and should be recorded is called a/an ____________________. Group of answer choices accounting concept business transaction communication economic transaction

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter2: Financial Reporting: Its Conceptual Framework

Section: Chapter Questions

Problem 6MC

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Question

An economic event or condition that directly changes the financial condition of the company or directly affects its results of operations and should be recorded is called a/an ____________________.

Group of answer choices

accounting concept

business transaction

communication

economic transaction

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