Practicing Success
Practicing Success
CUET Preparation Today
Which of the following is not a business transaction? |
Bought machinery of ₹50,000 for business Paid for salaries of employees ₹3,000 Paid son fees from her personal bank account ₹20,000 Paid sons fees from the business ₹2,000 |
Paid son fees from her personal bank account ₹20,000 |
The correct answer is option 3- Paid son fees from her personal bank account ₹20,000. Paying son's fees is the personal transaction as this expense is personal of owner and also paid by owner by her personal account not business account. Option 4 is business transaction as personal expense is paid through business so it is considered as drawings. |
