Under which system of accounting are credit transactions not recorded

1.	Under which system of accounting are credit transactions not recorded
Answer» Answer: EVENTS such as natural disasters may be recorded as accounting events if they damage a COMPANY's PROPERTY and other assets because the damage can be assigned a monetary value. Other events, such as the SIGNING of a contract, do not affect the financial statements and therefore are not recorded as accounting events.

Answer»

Answer:

EVENTS such as natural disasters may be recorded as accounting events if they damage a COMPANY's PROPERTY and other assets because the damage can be assigned a monetary value. Other events, such as the SIGNING of a contract, do not affect the financial statements and therefore are not recorded as accounting events.

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Under which system of accounting are credit transactions not recorded

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