What is Transaction?
Transaction is a widely discussed term in the business world. Essentially, any time money (or another kind of asset) is exchanged between two entities, it falls under the umbrella of transaction. This could occur in the form of a purchase, sale, loan or investment. In every transaction, value is either received or given up and will affect both entities involved - whether this is linear (both parties in gain or loss) or nonlinear (one party gains and one loses).
Types of Transaction
There are many different types of transactions, and the specific types will vary depending on the context in which the transaction is taking place. Some common types of transactions include:
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