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.
transaction. noun transÂ·acÂ·tion \tran-Ëzak-shÉn, tran(t)-Ësak-\. Tweet. : a business deal: an occurrence in which goods, services, or money are passed from one person, account, etc., to another. : the act or process of doing business with another person, company, etc. : the act or process of transacting business.. a: an act, process, or instance of transacting b: a communicative action or activity involving two parties or things that reciprocally affect or influence each other. â transÂ·acÂ·tionÂ·al \-shnÉl, -shÉ-nÉl\ adjective. See transaction defined for English-language learners. See transaction defined for kids.