Transaction

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Definition of 'Transaction'

A transaction is an exchange of goods or services for money. It can also be defined as an agreement between two or more parties to exchange something of value. In the context of finance, a transaction is any activity that involves the transfer of money or assets between two parties.

There are many different types of transactions, including:

* Cash transactions: These are transactions that involve the exchange of physical cash.
* Check transactions: These are transactions that involve the exchange of checks.
* Electronic transactions: These are transactions that involve the exchange of electronic funds.
* Credit card transactions: These are transactions that involve the use of credit cards.
* Debit card transactions: These are transactions that involve the use of debit cards.

Each type of transaction has its own unique set of rules and regulations. For example, cash transactions are typically subject to fewer regulations than electronic transactions.

Transactions are an important part of the financial system. They allow businesses and individuals to exchange goods and services, and they help to facilitate the flow of money through the economy.

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