Class Notes Each class has notes available. Most of the classes have practice problems with solutions available on the practice problems pages. Also most classes have assignment problems for instructors to assign for homework (answers/solutions to the assignment problems are not given or available on the site).
Definition. The accounting definition of a business transaction, according to the online Business Dictionary, is an economic event that initiates the accounting process of recording it in a company's accounting system.. This is the official definition.imple Transactions. Some transactions are simple exchanges. Paying two dollars for a cup of coffee is a business transaction. Getting a haircut, eating at a restaurant, even buying something expensive like a washer or dryer can be a simple transaction.
Secured Transactions. Business dealings that grant a creditor a right in property owned or held by a debtor to assure the payment of a debt or the performance of some obligation. A secured transaction is a transaction that is founded on a security agreement. A security agreement is a provision in a business transaction in which the obligor, or debtor, in the agreement gives to the creditor the right to own property owned or held by the debtor.