Definition Of Business Transaction
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A business transaction in the context of electronic commerce is any monetary transaction that is made between consumers or businesses via the internet.
Definition of business transaction. Business transactions are recorded in order to maintain accurate account balances to ensure accountability to establish historical business activity data and to provide information to decision makers for determining business strategy. And another such entity. Business transactions free up time when conducted online since each party does not need to be physically present in order to make the transaction. A business transaction occurs when goods services or money are passed between one person business account etc.
Definition a transaction engaged in by a business that initiates the accounting cycle of that business. Business transactions refer to activities and events that affect the financial position of a business and are capable of being assigned monetary values. Definition of business transaction. Business transactions are recorded in the books of the business and summarized in financial reports.
An economic event that initiates the accounting process of recording it in a company s accounting system.
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