A consumer values a house at $525,000 and a producer/seller values the same house at $485,000. If the transaction is completed at $510,000, the transaction will generate error
<h3>What is
transaction?</h3>
A financial transaction is a contract or communication between a buyer and seller to exchange goods, services, or assets in exchange for money. Any transaction involves a shift in the financial status of two or more businesses or individuals.
The total value of all transactions is divided by the number of transactions or sales to calculate the average transaction value. This can be calculated daily, monthly, or annually. As an example, sales of $200,000 for the year could be generated by ten sales or transactions.
The transaction date is the date on which any financial transaction takes place. The date when ownership changes in any financial transaction occurs on the transaction date.
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