5 Questions
Which of the following is NOT considered a financial transaction?
The hiring of new employees
What are the most common types of financial transactions?
The sale of goods or services
Why do business firms group similar types of transactions into transaction cycles?
To increase efficiency
Which of the following is an example of an internal financial transaction?
The depreciation of fixed assets
What is a financial transaction?
An economic event that affects the assets and equities of the firm
Test your knowledge on TPS applications and financial transactions with this quiz! Explore the definition of financial transactions, their impact on a firm's assets and equities, and the common types of economic exchanges with external parties.
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