Does business answer for boring leaflets? (9)

I believe the answer is:

transacts

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'does business answer for boring leaflets?' is the definition.
I can't tell whether this definition defines the answer.

'answer for boring leaflets?' is the wordplay.
'answer' becomes 'ans' (abbreviation for answer).
'for boring' means one lot of letters goes inside another (to bore something can mean to drill into it).
'leaflets?' becomes 'tracts' (I've seen this before).
'ans' placed inside 'tracts' is 'TRANSACTS'.

Can you help me to learn more?

(Another definition for transacts that I've seen is " Performs, carries out business".)

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