REQUIREMENTS ENGINEERING
REQUIREMENTS GATHERING AND ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Business Transactions Planning
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Business Transactions Identification
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Business Transactions Decision
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Business Transactions Actualization
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Detailed explanation-1: -Which of the following does not characterize business activity? (a) Production of goods and services (b) Presence of risk (c) Sale or exchange of goods and services (d) Salary or wages. Answer: (d) Salary or wages are paid as remuneration to workers who work for others and is not a characteristic of business.
Detailed explanation-2: -Cash Transactions. When a transaction is labelled as a cash transaction, it signifies that the payment was made or received in cash at the time of the transaction. Credit Transactions. Internal Transactions. External Transactions.
Detailed explanation-3: -#1 – Borrowing from Bank. #2 – Purchase Goods from Vendor on Credit Basis. #3 – Rent and Electricity of Premises Paid. #4 – Cash Sale of Goods. #5 – Interest Paid.