Question

true or false because cash transactions occur more frequently than ither transactions the chances for making recording errors affecting cash are less______________.

Answer 1

False

Step-by-step explanation:

Cash transaction is a business transaction where customers pay cash immediately for goods purchase, as opposed to other types of transaction where cash payment is delayed to a future agreed date. example of other transactions that are not cash are, credit sales, forward contract, future contract e.t.c.

The more the cash transactions, the more the probability of making recording errors as one will be overwhelmed by the volume of cash which involves counting, receipting and recording.