barter system, payment of purchases, payment, purchases, Accounting, Basic Statistics

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Define the barter system with examples where payment is made in kind instead of cash.

A barter system whereby the payment for purchases is made in kind instead of, in cash. i.e. buying a ton of rice by giving away some quantity of maize instead of paying in cash.

Related Discussions:- barter system, payment of purchases, payment, purchases, Accounting

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