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P1 C1 Accounting and Its Terminology — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP1 C1 Accounting and Its Terminology2 Marks
Question
Explain economic transaction :
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Answer

When transactions are made through money, they are called economic transactions.Transactions made with help of money as a medium are known as monetary transactions.In this system we can say that product purchases money and money purchases product.

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