Exchanges between the entity and some other person or organization are
A)Internal transactions.
B)External transactions.
C)Investments.
D)Source documents.
E)Business papers.

Question

Quizplus · Accepted Answer

Exchanges with someone outside the organization are considered external transactions. Internal transactions involve exchanges within the organization itself. Investments, source documents, and business papers may be involved in both internal and external transactions, but they do not fully capture the nature of the exchange.

Exchanges Between the Entity and Some Other Person or Organization