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Select the most appropriate alternative from the given below and rewrite the statement. An act of exchange of things or services between the two parties is termed as______. - Book Keeping and Accountancy

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MCQ

Select the most appropriate alternative from the given below and rewrite the statement.

An act of exchange of things or services between the two parties is termed as______.

Options

  • Ledger

  • Transfer

  • Transaction

  • Business

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Solution

An act of exchange of things or services between the two parties is termed as Transaction.

Concept: Basic Accounting Terminologies
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APPEARS IN

Balbharati Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board
Chapter 1 Introduction to Book - Keeping and Accountancy
Exercises | Q 3. 10) | Page 17
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