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.
Business is an organization in which basic resources, called inputs, are assembled and processed to provide goods or services, called outputs, to customers. People who are engaged in business activity are called Entrepreneurs or Businessman.In general, a business can be defined as follows:his type of business operation provides services, instead of product, to its customers. It includes, but not limited, to the following: 1  Professionals such Lawyers, Doctors, Accountant, Engineer, etc. 2  Consultation. 3  Hospital.