Question
What is an example of a transaction that would be a step in an accounting cycle?
Responses
tracking employee’s sick days
tracking employee’s sick days - no response given
paying for employee training seminars
paying for employee training seminars - no response given
determining product efficiency
determining product efficiency - no response given
deciding which website host to use
Responses
tracking employee’s sick days
tracking employee’s sick days - no response given
paying for employee training seminars
paying for employee training seminars - no response given
determining product efficiency
determining product efficiency - no response given
deciding which website host to use
Answers
GPT-5 mini
"Paying for employee training seminars."
Reason: that's an economic event that affects cash and expense accounts and would be identified and recorded in the accounting cycle. The others (tracking sick days, determining product efficiency, choosing a web host) are internal decisions/metrics and not recordable financial transactions unless they result in a measurable exchange (e.g., paying for hosting).
Reason: that's an economic event that affects cash and expense accounts and would be identified and recorded in the accounting cycle. The others (tracking sick days, determining product efficiency, choosing a web host) are internal decisions/metrics and not recordable financial transactions unless they result in a measurable exchange (e.g., paying for hosting).