Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 46 - No. 3)
Which of the following best describes the purpose of a business transaction?
To minimize the risk of loss for the business.
To record the exchange of goods, services, or money with other people or organizations.
To increase the owner's personal wealth.
To comply with government regulations.
Explanation
A business transaction involves the exchange of goods, services, or money between a business and another party.
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