BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Solution. An act of exchange of things or services between the two parties is termed as Transaction.

Detailed explanation-2: -Barter is an act of trading goods or services between two or more parties without the use of money-or a monetary medium, such as a credit card. In essence, bartering involves the provision of one good or service by one party in return for another good or service from another party.

Detailed explanation-3: -A business transaction is a financial transaction between two or more parties that involves the exchange of goods, money, or services. To engage in a business transaction, the business exchange must be measurable in monetary value so it can be recorded for accounting purposes.

Detailed explanation-4: -Barter exchange takes place when a person or business entity provides a good or service and receives a good or service in return, rather than receiving cash or another monetary instrument. Accounts still have to track these exchanges but cannot rely on standard purchase receipts to record the transaction.

Detailed explanation-5: -A transaction that includes an exchange of services or goods for a certain amount of money is known as a sale. In other words, any activity that involves transferring the ownership of a good or commodity to the buyer in exchange for a monetary price is known as a sale.