: 1Introduction of Accountancy discuss about classification of transaction
Document Summary
According to f. w pixley accountancy may be describe as science which deals with recording to monetary transaction of every description. According to v. l gole accountancy is the area of knowledge concern of the accounts. In every transaction there are some features, which are helps to an event to be a transaction. The features are following: two person: any transaction can"t be success without at least two person. In every transaction there should be a subject matter, and that is assets or labour both. Transaction are three types cash transaction, credit transaction, paper transaction. Cash transaction: the transaction, which is occurred by cash is called cash transaction. Credit transaction: the transaction which is occurred in credit instead of cash, and it is to be considered that the cash will be determine in future, is called credit transaction. Sold goods to mr. x rs. 4000 on credit.
