A non-exchange business transaction does not involve changes in quantifiable monetary values.Select one:TrueFalse

A business transaction to be recognized in accounting should involve exchange of values and quantifiable in terms of moneySelect one:TrueFalse

A business transaction should always affect at least two accounting elements or values.Select one:TrueFalse

Under the cash basis of accounting, no adjustments are made for prepaid, unearned, and accrued items.  True False

3. Which one of the following is not a feature of money?(A) Medium of exchange(B) Lack of divisibility(C) A store of value(D) A unit of account

Exchange rate changes have no impact on the control systems of international businesses.Group of answer choicesTrueFalse