8. What is Transactions
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A financial transaction is an agreement, or communication, carried out between a buyer and a seller to exchange an asset for payment. It involves a change in the status of the finances of two or more businesses or individuals
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A transaction is a completed agreement between a buyer and a seller to exchange goods, services, or financial assets.A transaction will be recorded earlier or later depending on whether the company uses accrual accounting rather than cash accounting.
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