Question

State whether the following are business transactions. Goods are sold for rs 25000 on credit

Answer 1

Answer:

Yes

Explanation:

It is a business transaction

Answer 2

Answer:

Yes it is a business transaction.

Explanation:

A business transaction is an economic activity which changes the value of assets, liabilities or capital of the firm.

since goods sold will affect the value of stock and credit sale will creat a new asset (debtors). Therefore, it is a business transaction.