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Transaction Definition and Explanation PDF Download

Learn Transaction definition in marketing with explanation to study “What is Transaction”. Study transaction explanation with marketing terms to review marketing course for online MBA programs.

Transaction Definition:

  • A trade of values between two or more parties: A gives X to B and receives Y in return.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Transaction Explanation:

An exchange is an understanding between a purchaser and a merchant to trade merchandise, administrations or money related instruments. Exchanges regarding deals among purchasers and merchants are moderately direct. Individual A gives individual B a specific measure of cash for a decent, administration, or monetary item. Exchanges can turn out to be progressively perplexing in the bookkeeping scene since organizations may now and then make bargains today which won't be settled until a future date, or they may have incomes or costs that are known however not yet due. Regardless of whether a business records pay and cost exchanges utilizing the collection technique for bookkeeping or the money strategy for bookkeeping influences the organization's budgetary and expense detailing. In bookkeeping, the occasions that influence the funds of a business must be recorded on the books, and a bookkeeping exchange will be recorded diversely if the organization utilizes accumulation bookkeeping instead of money bookkeeping. Accumulation bookkeeping records exchanges when incomes or costs are acknowledged or acquired, while money bookkeeping records exchanges when the business really spends or gets cash.

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