Question

What are the 3 main types of transactions?

Answer 1

The three main types of transactions are:

1. Cash Transactions: Involves the exchange of cash for goods or services.
2. Credit Transactions: Involves the use of credit or borrowed funds to make a purchase, with the promise of repayment later.
3. Debit Transactions: Involves the direct deduction of funds from a bank account to pay for goods or services.