Which of the Following Is Not True About Barter

question 78

Multiple Choice

Which of the following is not true about barter?

• A)It involves the direct exchange of one good or service for another.
• B)It is more likely to occur if people lose faith in a nation's currency.
• C)It is considered to be less efficient than the use of money.
• D)It allows people to obtain more goods than they would under a money payment system.

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Definitions:

Budgeted Balance Sheet

A financial statement that projects the balances of assets, liabilities, and equity based on expected future transactions.

Financial Position

An overview of a person's or organization's assets, liabilities, and equity at a specific point in time, showing the net worth or financial health.

Operating Budget

A detailed projection of all expected income and expenses based on forecasted sales revenue during a given period, typically a fiscal year.

Accounts Receivable

Amounts owed by customers on account.