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Examveda

In accounting, an economic event is referred to as

A. Cash

B. Bank statement

C. Transaction

D. Exchange of money

Answer: Option C

Solution(By Examveda Team)

In accounting, an economic event is referred to as Transaction. An accounting event is a transaction that is recognized in the financial statements of an accounting entity. In accounting, a transaction includes such things as recording the depreciation of an asset or payment of dividends. Accounting events can be either external or internal.

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