What do you mean by business transactions?
Those transactions which are entered by the two or more parties in the affairs of the business.
Business transactions must be related to:
(a) Business (b) Must have evidence (c) Must be measured in money.
What is Accounting?
Accounting is a process of identifying business transactions, recording, classifying, summarizing, analysing the accounting information and communicating it to the internal and external users.
3 thoughts on “Definition of Accounting”
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