Cash Transaction
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A Cash Transaction is an economic transaction that are settled immediately in cash.
- Context:
- It can range from being a Person-to-Person Cash Transaction to being a Person-to-Organization Cash Transaction to being an Organization-to-Organization Cash Transaction.
- It can range from being a Cash Transaction Instance to being a Cash Transaction Concept.
- It can (often) be classified under an Organization Cash Account (as either a Cash Receipt or Cash Payment).
- …
- Counter-Example(s):
- See: Cash Account, Cash Accounting Method.
References
2014
- http://accounting-simplified.com/accounting-for-cash-transactions.html
- QUOTE: Cash transactions are ones that are settled immediately in cash. Cash transactions also include transactions made through cheques. Cash transactions may be classified into cash receipts and cash payments.