A transaction is an exchange or event that directly affects the assets,liabilities,or shareholders' equity of a company.
BT: Knowledge

Question

Quizplus · Accepted Answer

This statement is true. A transaction is any exchange or event that has an impact on a company's financial position, including its assets, liabilities, and shareholders' equity. Examples of transactions include sales of products, purchases of inventory or equipment, borrowing money, paying off debt, and issuing stock to investors.

A Transaction Is an Exchange or Event That Directly Affects