Which of the following is not a transaction
A
Goods are purchased on cash basis for Rs 1000
B
Salaries paid for the month of May 20XX
C
Land is purchased for Rs 10 lakhs
D
An employee is dismissed from the job
Correct Answer: An employee is dismissed from the job
An accounting transaction is a business event having a monetary impact on the financial statements of a business. It is recorded in the accounting records of the business. An employee is dismissed from the job does not have any monetary impact so it is not a transaction.