What are transactions common to all businesses?

The identification of sell goods or services and purchase goods and services as transactions common to all businesses is accurate because these activities form the core of most commercial operations. Every business, regardless of its type or industry, engages in these fundamental transactions to generate revenue and sustain operations.

Selling goods or services is essential since it directly relates to the primary purpose of businesses: to provide products or services to customers. This activity generates income, which is vital for any business’s survival and growth.

On the other hand, purchasing goods and services is equally important because businesses require resources to operate. This includes inventory for retail businesses, raw materials for manufacturers, or services like marketing and office supplies. Acquiring these resources ensures that a business can continue to serve its customers and fulfill its operational needs.

In contrast, options that suggest limited transactions, such as focusing solely on purchasing goods or only selling services, do not encompass the comprehensive nature of business transactions that are essential for financial viability. Similarly, mentioning only depositing money without considering the broader range of transactions that include payments overlooks the reciprocal nature of financial activities businesses engage in. Therefore, the combination of selling and purchasing is indeed the most accurate representation of common transactions across all business types.