An External Transaction Is an Exchange Within an Entity That

question 284

True/False

An external transaction is an exchange within an entity that may or may not affect the accounting equation.

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Definitions:

Requesting Proposals

A process where an organization asks external parties to submit a plan or bid to complete a specific project or task.

Minimize Work

The process of reducing the amount of effort or resources required to complete a task or achieve a goal.

Maximizing Effectiveness

The act of making the best or most efficient use of resources, time, or effort to achieve a desired outcome.

Request For Proposals

A formal document issued by an organization inviting suppliers or service providers to submit a proposal on a specific product or service.