explain internal & external transactions
Answers
Answered by
0
Answer:
internal transactions are those transactions which take place in the organisation eg. partners distribute thier salary
external is the opposite of this
Answered by
2
Plz mark me as brainliest answer the answer is
External transactions-
External transactions (also known as business transaction codes) are bank-specific codes for business transactions, each of which involves a different type of payment. The external transaction code is issued by banks in the electronic account statement.
Internal Transactions-
Internal transactions are those transactions with which no outside person or organization is involved, it does not relates with two parties or not involve any other second party. For e.g supplies used, prepaid expired, depreciation charged, bad debts on a/c receivable etc.
I have tried my best to answer you
I will be thankful to you
External transactions-
External transactions (also known as business transaction codes) are bank-specific codes for business transactions, each of which involves a different type of payment. The external transaction code is issued by banks in the electronic account statement.
Internal Transactions-
Internal transactions are those transactions with which no outside person or organization is involved, it does not relates with two parties or not involve any other second party. For e.g supplies used, prepaid expired, depreciation charged, bad debts on a/c receivable etc.
I have tried my best to answer you
I will be thankful to you
Similar questions