Which of the following is not a type of financial transaction?
a. purchase of products
b. cash receipts
c. update valid vendor file
d. sale of inventory
Explanation: There are many different types of financial transactions, but one that is often overlooked is the updated valid vendor file. This type of transaction is not typically considered to be a financial transaction, but it can be very important nonetheless.
An update valid vendor file is a type of transaction that updates the information that a company has on file for a particular vendor. This can include things like the vendor’s contact information, account information, and any other pertinent details. This type of transaction is important because it helps to keep the company’s records up to date and accurate.
While an updated valid vendor file may not be a traditional financial transaction, it can still be very important for a company. This type of transaction can help to keep a company’s records accurate and up to date, which can ultimately help to save time and money.