Question

features of business transaction​

Answer 1

Answer:

A business transaction must have the following characteristics:

• It must be for a sum certain in money (i.e., of a financial value)
• It must be supported by a source document (e.g. sales invoice, official receipt, disbursement voucher, remittance advice, etc.)
• It must have a two-fold effect in the elements of accounting.

Answer 2

Answer:

A business transaction must have the following characteristics: It must be for a sum certain in money (i.e., of a financial value) It must be supported by a source document (e.g. sales invoice, official receipt, disbursement voucher, remittance advice, etc.) It must have a two-fold effect in the elements of accounting.