1. It defines as an exchange of goods and services translated into monetary values.
a. Accounting Elements
b. Accounting Equation
c. Business Organization
d. Business Transaction
2. Which of the following is a transaction?
a. Hiring of personnel
b. Obtaining price quotation for supplies needed
c. Promoting an employee to a higher position
d. Payment of existing payables
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Answer:
1. d
2. b
Explanation:
Transaction means conducting an exchange offers with business owner as well, so business transaction is a situation that occurring an exchange of goods.