The Problem with Bartering Is That It Is Often Difficult

question 68

Essay

The problem with bartering is that it is often difficult to find partners,so ________,in which intermediaries arrange the matching and transactions,were created to address this problem.

---

Definitions:

Internal Control

A system of policies and procedures implemented by an entity to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Policies and Procedures

Guidelines and processes set by an organization to ensure its operations comply with regulations and are consistent with its objectives.

NSF Check

A check that has been returned without being honored due to insufficient funds in the account it was drawn against.

Petty Cash Fund

A small amount of cash kept on hand for making immediate payments for miscellaneous, small expenses instead of writing checks.