business transaction

  

Definition

An economic event that initiates the accounting process of recording it in a company's accounting system.

Use this term in a sentence

  • The politician who believed in free market capitalism was arrested for soliciting a prostitute; he shrugged it off and just said it was a legitimate business transaction.

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  • Andrea knew that, while she was personally upset, the selling of her company's New Brunswick office was just a business transaction that made since because most of their customers lived further south.

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  • You should always try to make sure that both parties in the business transaction are happy with how things played out.

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