Wize University Introduction to Financial Accounting Textbook > Transaction Analysis
Business Transactions
Popular Courses
COMM 217
Concordia University
ACCT 2301
The University of Texas at Dallas
Intro to Financial Accounting
General Course
COMM 293
University of British Columbia
Intro to Financial Accounting
University Study Guides
MGCR 211
McGill University
ACCT 1220
University of Guelph
Intro to Financial Accounting
University Study Guides
ACCT 217
University of Calgary
ADMS 2500
York University
COMMERCE 1AA3
McMaster University
ACC 100
Toronto Metropolitan University
COMM 111
Queen's University
ADM 1340
University of Ottawa
BU127
Wilfrid Laurier University
RSM219H1
University of Toronto
COMM 1101
Dalhousie University
ACCT 2301
Houston
ACCT 2301
Houston
AFM 101
University of Waterloo
0:00 / 0:00
Business Transactions
- A transaction is an event that has an economic impact on the business entity.
- There must be an exchange of value
- Transactions can be:
- External events: involving the business entity and external parties Example: Sales to customers, loans from banks, issuance of shares to investors
- Internal events: involving only the business entity Example: Using prepaid expenses, depreciating fixed assets
Practice: Business Transactions
Which of the following are not business transactions for accounting purposes? Select all that apply.