Business Transaction
From Open Risk Manual
Revision as of 15:15, 16 September 2021 by Wiki admin (talk | contribs) (Created page with "== Definition == '''Business Transaction''' in Accounting context is any economic Transaction undertaken by an entity. == Classification == * Exchange transaction (in...")
Definition
Business Transaction in Accounting context is any economic Transaction undertaken by an entity.
Classification
- Exchange transaction (involves physical exchange of values such as sale, purchase, payment, etc.)
- A non-exchange transaction (does not involve physical exchange (e.g. loss from flood, fire loss, internal production, depreciation)
