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A purchase.

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15y ago
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to barter

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Q: What is the transaction called when money is given in exchange for goods or services?
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Do you have to pay tax on money given to you?

If the money is given to you as a no-strings-attached gift, no. Money given to you by your employer or in exchange for goods or services is not a gift no matter what you agree to call it.


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Trading in country means that the exchange of goods and services takes place within one given country. Trading with country on the other hand means you exchange goods and services with a different country.


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What do you mean by customers copy?

The customers copy is the copy of the transaction given to the customer for their records. It generally outlines the agreed upon terms including pricing, dates of services, etc.


What is the name of the political economic and social system in medeivel Europe in which land was held by vassals in exchange for military and other services given to overlords?

Feudalism


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What is an exchange of information that results in a change of behavior called?

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What is meant by 'double entry'?

Each financial transaction is an exchange of things of value. Since it is an exchange, both sides of the transaction are described in accounting. Double entry refers to each side of the exchange - what was gained or paid for and what was the source of value given in return. ie. paid for credit card - source = cash put money in the bank - source = paycheck (income) bought shoes - source = credit card The left side of each of the examples is the debit side and the right side (source) is the credit side.


What is the total value of goods and services produced in a given period of time called?

aggregate production