Which of the following is not a transaction A. Goods are purchased on cash basis for Rs 1000 B. Salaries paid for the month of May 20XX C. Land is purchased for Rs 10 lakhs D. An employee is dismissed from the job

The correct answer is D. An employee is dismissed from the job.

A transaction is an event that changes the financial position of an entity. In other words, it is an event that results in a change in the assets, liabilities, or equity of an entity.

Option A is a transaction because it results in a change in the assets of the entity. The entity has acquired goods on cash basis, which means that its assets have increased by Rs. 1000.

Option B is a transaction because it results in a change in the liabilities of the entity. The entity has incurred an expense, which means that its liabilities have increased by the amount of the salaries paid.

Option C is a transaction because it results in a change in the assets of the entity. The entity has acquired land, which means that its assets have increased by Rs. 10 lakhs.

Option D is not a transaction because it does not result in a change in the financial position of the entity. The dismissal of an employee does not affect the assets, liabilities, or equity of the entity.