The students benefit from the useful or inspiring contents of the commencement speech, while the CEO and his corporation are publicized in the process. What transaction is this?
Non-business transaction
15
No external party is involved in this transaction.
Internal transaction
15
The payment is made after a set amount of time in this transaction.
Credit Transaction
15
The payment was received or paid in cash at the time the transaction occurred.
Cash Transaction
15
___ are economic events that affect the financial position of a business.
Business Transaction
15
___ involve physical exchange such as purchasing, selling, collection of receivables, and payment of accounts.
Exchange transactions
15
____ are events that do not involve physical exchanges but where changes in monetary values are determinable.
Non-exchange transactions
15
____ are sometimes called exchange transactions.
External Transaction
15
Occur when two or more parties are involved in the transaction.
External Transaction
15
If the transaction cannot be recorded in a business account, then it is not a ___.
