answersLogoWhite

0

What is an economic transaction?

Updated: 9/26/2023
User Avatar

Wiki User

6y ago

Want this question answered?

Be notified when an answer is posted

Add your answer:

Earn +20 pts
Q: What is an economic transaction?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

The financial gain made in an economic transaction?

financial gains made in an economic transaction


What is the difference between transaction risk and economic risk?

Transaction is bank risk


What economic events affect The accounting equation?

Economic event is the 'Name of transaction where monetory values are involves"


How is transaction cost?

Transaction cost is the price that you have to pay or that you are likely to receive while carrying out an economic exchange.


What are the types of exchange risks?

Transaction, economic and translation exposure


What are the economic and accounting effects of dividend transactions in a corporation?

I think it means any transaction.


Difference between business transaction and personal transaction?

I made a research and it says that: Business transaction is a economic activity or event that initiates the accounting process of recording it in the firm's accounting system while personal transaction means is a set of custom fields grouped together into a specific transaction type ad linked into a role. -Internet, Wikipedia


Is an initial public offering an example of a primary or secondary market transaction?

I believe, it is a primary market transaction. A secondary market transaction requires an intermediary between the initial seller and the buyer. Which is not the case in a initial public offering. ( It s always better to verify with an economic teacher)


What is an economic event or condition that directly changes an entity's financial condition or directly affects its results of operations?

A Business Transaction ;)


What is the difference between economic event and a transaction?

size and quantity. Small transactions (one of a kind, say) can accumulate in time to become a trigger for a larger "economic event", affection many institutions, people, etc.


Economic event that is not a business transaction?

There is a plethora of "economic events" that are not (necessarily) business transactions. A supervisor taking his/her employees to lunch on his own dime is not a business transaction, but it obviously affects (and is often affected by) the economy. If what you mean by this is to list economic events that are not recorded by the bookkeeping process, then the answer might be a little more specific. Hiring of employees is not recorded on the general ledger. Promoting or giving raises to those employees would not be recorded as such on most general ledgers (although the "salaries payable" column will obviously be affected by such an economic event).


How many sectors are there in economic activity?

Economic activity refers to all transaction between individuals/groups and countries make as well as investments/savings and consumption of those transactions. Therefore, there are literally billions of economic activity going on around the world. If you buy a cabbage in the supermarket, that's an economic activity If you put your money into a bank, that's an economic activity