Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 23 Aug 2017 My Price 5.00

Austin Corporation

Business transactions

e1A. ConCept ▶ Austin Corporation operates a minimart. Which of Austin’s actions described below are business transactions? Explain why any other actions are not consid- ered business transactions.

1.    Austin reduces the price of a gallon of milk in order to match the price offered by a competitor.

2.    Austin pays a high school student cash for cleaning up the driveway behind the market.

3.    Austin fills an employee’s car with gasoline in payment for the employee restocking the vending machines and the snack food shelves.

4.    Austin pays interest to a stockholder on a loan made to the business three years ago.

Answers

(5)
Status NEW Posted 23 Aug 2017 10:08 PM My Price 5.00

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