How many Types of Business Transaction in Accounting

Question

Accepted Answer

There are three types of business transactions in accounting: revenue, expense, and capital.

Revenue transactions involve the sale of goods or services, resulting in an increase in assets or decrease in liabilities.
Expense transactions involve the purchase of goods or services, resulting in a decrease in assets or increase in liabilities.
Capital transactions involve the owner's investment or withdrawal of funds, resulting in changes to the owner's equity.
Examples of revenue transactions include sales of products, fees earned for services rendered, or rental income.
Examples of expense transactions include payment for inventory, salaries, rent, or utilities.
Examples of capital transactions include the owner investing additional funds into the business or withdrawing personal funds for personal use.

Accepted Answer

Cash transaction and credit transaction

Accepted Answer

There Are 2 Types Of Transaction in Accounting That is Revenue And Capital

Top Texas Review Cashier & Junior Accountant interview questions & answers