An exchange between two parties of economic consideration such as goods,services,money,or rights to collect money is called:

Question

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A business transaction is the exchange between two parties of economic consideration such as goods, services, money, or rights to collect money. This is the most appropriate choice among the given options. The accounting equation and bookkeeping are related to the recording and management of financial transactions but do not necessarily involve an exchange between parties. An audit is a review of financial records to ensure accuracy and compliance, but it does not involve an exchange between parties. A gift is not considered an economic consideration as it does not involve an exchange of goods or services for something of value.

An Exchange Between Two Parties of Economic Consideration Such as Goods,services,money,or