An exchange between two parties of economic consideration such as goods, services, money, or rights to collect money is called:
A)An audit.
B)The accounting equation.
C)Bookkeeping.
D)A business transaction.
E)A gift.

Question

Quizplus · Accepted Answer

A business transaction involves the exchange of economic consideration between two parties, which can be goods, services, money, or rights to collect money. The other options (audit, accounting equation, bookkeeping, gift) do not necessarily involve the exchange of economic consideration.

An Exchange Between Two Parties of Economic Consideration Such as Goods