Question

Define business transaction ??

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Answer 1

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Business :

Business is an organisation or economic system where goods and services are exchanged for one another. Business can also be said that a organization engaged in industrial, commercial or professional activities.

Business transaction :

A business transaction is an economic event involving an interchange of goods, money or service between two or more.

A business transaction is an activity that can be measured in terms of money.

For example:Selling goods to a costumer for cash.

Business transaction is also known as financial transaction.

Business transaction changed the financial position or earning of a business.

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Answer 2

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business transaction is an economic event with a third party that is recorded in an organization's accounting system. Such a transaction must be measurable in money.

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