Question

what is business transaction? 4 feature.​

Answer 1

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Answer 2

Answer:A Business Transaction is the exchange of money, goods or /and services by an entity.

Features of business transaction are as follows:

1.its for a financial value i.e.for an amount.

2.it is supported by aource vounchers.

3.it has two folded effect on accounting.

4.it brings change in the financial position of the entity.

Explanation:'TRANSACTION ' is a financial event entered into by the entity having monetory impact on the financial statements and recorded in the books of accounts. It brings change in the financial position of thr enterprise. Some examples of the business transaction are :sale of goods, purchase of goods, payments to creditors, receipts from debtors etc