A Range of Barterlike Agreements by Which Goods and Services

question 19

Multiple Choice

A range of barterlike agreements by which goods and services are traded for other goods and services when they cannot be traded for money is known as

• A) countertrade.
• B) carry trade.
• C) free trade.
• D) counter sale.
• E) countervailing duty.

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Definitions:

Direct Materials Budget

A financial plan that estimates the raw materials needed to meet production goals and the costs associated with purchasing them.

Ending Direct Materials

The value of materials that are available for use at the end of a specific accounting period, after accounting for beginning inventory and any purchases or usage during the period.

Beginning Direct Materials

The cost of raw materials available for use in production at the start of an accounting period.

Merchandise Purchases Budget

An estimation of the cost of goods a retail company plans to buy for a specific period.