What is business transaction?
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A business transaction is a financial transaction between two or more parties that involves the exchange of goods, money, or services. ... Business transactions can be as simple as a cash purchase or as complex as a long-term service contract .
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A business transaction is an economic event with a third party that is recorded in an organization's accounting system. ... Examples of business transactions are: Buying insurance from an insurer. Buying inventory from a supplier. Selling goods to a customer for cash
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