Exchanges between the entity and some other person or organization are:

Question

Quizplus · Accepted Answer

Exchanges with external parties, such as customers or suppliers, are considered external transactions. Internal transactions would refer to exchanges within the entity, such as between different departments or subsidiaries. Business papers and source documents are types of documents that provide evidence of transactions, but they do not necessarily indicate whether the transactions are internal or external. Investments refer to the purchase or sale of assets, and are not necessarily related to exchanges between the entity and external parties.

Exchanges Between the Entity and Some Other Person or Organization