Accountancy, asked by ayush7946, 1 year ago

explain the business transaction

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Answered by rajvi2601

A 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. Examples of business transactions are: ... Selling goods to a contomer

ayush7946: accountancy question

ayush7946: explain the working capital

ayush7946: answer please

rajvi2601: Working capital, also known as networking capital (NWC), is the difference between a company's current assets, such as cash, accounts receivable (customers' unpaid bills) and inventories of raw materials and finished goods, and its current liabilities, such as accounts payable

ayush7946: thank you

ayush7946: revenue

ayush7946: explain the fictitious or nominal assets

rajvi2601: Asset created by an accounting entry (and included underassets in the balance sheet) that has no tangible existence or realizable value but represents actual cash expenditure. ... Fictitious assets are written off as soon as possible against the firm's earnings.

ayush7946: accounting standards ensure the consistency and comparability of financial statement . explain

ayush7946: answer please

Answered by tanmoyvestige

Answer

Business Transactions

A Business Transaction is an economic activity of business that changes its financial position. Whenever any business transaction takes place , it results in a change in the values of some assets , liabilities or capital.

ayush7946: accounting standards ensure the consistency and comparability of financial statement . explain

ayush7946: answer please

tanmoyvestige: Hey whats wrong with my answer

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explain the business transaction