Question
A trader calculated his profit as Rs.150000 on
31/03/2014. It is anSolution
In accounting, an event refers to any transaction or occurrence that has an impact on the financial position or performance of a company. Events can be broadly classified into two categories:
- External events: These are events that originate outside the company, such as the purchase of goods or services, sale of products, or receipt of payments from customers.
- Internal events: These are events that originate within the company, such as the issuance of stocks, payment of dividends, or depreciation of assets.
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