Money is omitted in a barter transaction.In a barter transaction, two parties trade one basket of goods and services for another basket containing additional goods and services.
What is barter transaction?
- A barter transaction entails two parties and involves the exchange of one basket of products and services for another basket including other commodities and services. without a related monetary payment.
- In the alternative trading system of barter, products and services are traded directly for one another without the use of money as a middleman. For instance, a farmer may trade a pair of shoes from a shoemaker for a bushel of wheat.
- Several different kinds of barter exchanges are briefly described and explained here.
- Direct bartering is the direct exchange of goods or services between two or more parties.
- retail barter is exchanged between small enterprises through a trade exchange that is locally arranged.
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