What would you like to do?
All events are transactions but all transaction are not events?
"All transactions are event but all events are not transaction."
Before explaining this statement we have to know what is an event & what is a transaction.
In general some happenings are called "Event".It changes the status of a person,a community,a country and organigation or of a substance. The consequence of anything; the issue; conclusion; result; that in which an action, operation, or series of operations, terminates.
According to accountant Mr.E.L.Kohlar "A process or part of a process having particular moment and place of occurrence is an Event. Example : India won 1983 cricket world cup. In the other hand transaction is called when the exchange of a commodity or service in terms of unit money exchange.
An agreement between a buyer and a seller to exchange an asset for payment.
In accounting, any event or condition recorded in the book of accounts.
A Transaction is any process a user performs after successfully logging in. Examples of Transactions are making a purchase, bill pay, money transfer, stock trade, address change, and others.
With each type of Transaction, different type of details are involved. For example, in a stock trade, the data involved would be the symbol, unit price, number of shares, buy or sell action, time of trade, total amount, broker commission, and so on.
As Mr.A.Field stone defined the definition of transaction is "A transaction consists of an exchange or transfer of value , either in the form of money or goods or services which are measured and expressed in terms of money."
According to Yoston, Smyth and Brown "Transaction is an event , involving transfer of money or moneys worth , the recognition of which gives rise to record in the books of account."
In the other hand Noble & Niwonger said that "Any happenings which brings change in the pattern of assets or liabilities or proprietorship of a business concern , is a financial transaction to it ." Example : Purchase a motor car worh Rs. 2,00,000.
So from this definition we can find that every incident are called event . But when an incident happens with a moneytory term it called transaction. So we defiantly can say that " All transactions are event but all events are not transaction."
14 people found this useful
Was this answer useful?
Thanks for the feedback!
Answer . Go to the bank and take your name off the account and remove the money. Close the account if they will let you do it without having the other person sign. You als…o may be able to get a quick order from a judge to freeze the account if you have good reason.\n. \n . \n If this is in connection to a lawsuit judgment, once the lawsuit has been filed the account holder(s) cannot close or transfer any existing accounts unless the lawsuit is against only one account holder. In addition no bank accounts or property can be transferred or sold under such circumstances if the defendant is married and lives in a community property state.
A transaction is any activity in business that involves money. It occurs when something of value is exchanged with something else of value. The act of recording transactions i…s called bookkeeping.
The word transactional essentially means a thing that hastransactions involved. You could say that running a store istransactional.
Transaction is accrue between tow parties like any business-related exchange such as Payments to employees, Sales to customers and payments to the suppliers. Thus, processing …business transaction was the first application of computer for most organizations. Regards: Shoaib Aatish from MSC CS, UAF, FSD
in transition the states are changed from one state to another but in event the signals are changed or trigered with respect to that signal.
The correct entry in the date column is for all the transactions is?
transactions is exchange of an asset with consideration of money value while events is any thing in general purpose which occur at specific time and particular place. all tran…sactions are events but not events are transactions. this is due that in order events to be called transactions must involve exchange of values
There various reason why to recording your transaction. It helps business to see where most of their money is coming from along with what is costing them the most.
state the assertions for class of transactions
There is a plethora of "economic events" that are not (necessarily) business transactions. A supervisor taking his/her employees to lunch on his own dime is not a business tra…nsaction, but it obviously affects (and is often affected by) the economy. If what you mean by this is to list economic events that are not recorded by the bookkeeping process, then the answer might be a little more specific. Hiring of employees is not recorded on the general ledger. Promoting or giving raises to those employees would not be recorded as such on most general ledgers (although the "salaries payable" column will obviously be affected by such an economic event).
size and quantity. Small transactions (one of a kind, say) can accumulate in time to become a trigger for a larger "economic event", affection many institutions, people, etc.
currency rate,money circulation,current assets,fixed assets