Question

A brief explanation of the transactions is called?

Answer 1

Answer:

An accounting transaction also called business event, is any exchange of economic consideration that can be reasonably measured and affects the firm's financial position.

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Answer 2

Answer:

Hey mate here is your answer

Explanation:

An accounting transaction, also called a business event, is any exchange of economic consideration that can be reasonably measured and affects the firm's financial position. In other words, transactions are events that change the accounting equation during a period.

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