Any Transaction That Involves Exchanging One Good for Another Without

question 261

Multiple Choice

Any transaction that involves exchanging one good for another without using money is considered a

• A) liquidity transaction.
• B) barter transaction.
• C) deferred payment.
• D) black market exchange.

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Definitions:

Cost

The amount of money spent on the production or acquisition of a good or service.

Cash

A form of currency that can include bills, coins, and balances in bank accounts that are available for immediate use.

Joint Operators

The parties to a joint operation.

Expenses

Decreases in assets or increases in liabilities, that result in decreases in equity, other than those relating to distributions to holders of equity claims.