A ‘transaction’ is an act of debt between parties. The seller owes goods to the buyer (performance debt), and the buyer owes money to the seller (monetary debt). A transaction is considered complete when the debt is settled and the promise to owe each other is called a ‘contract.’ Thus, a good trader or businessman excels at making and repaying debts. When it comes to debt, the type of debt matters. Anyone who misjudges this should not engage in business. - Joseph’s “just my thoughts”
One person gives freely yet gains even more; another withholds unduly, but comes to poverty. (Proverbs 11:24) This is a record from the Old Testament. It should not be interpreted as an endorsement of wastefulness. Wealth is not determined by the amount of income and expenditure but rather by purpose, relationships, and the timing of the purpose-fit-management. - Joseph’s “just my thoughts”