Question

Give two examples of business transactions which is not recorded in books of accounts after barter system obliteration​

Answer 1

Answer:

An example of barter is when the people within a community exchange goods and services so that money needn't be used. An example of barter is bread provided in exchange for butter.

Explanation:

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Answer 2

Answer:

1) Non Monetary Transaction

For eg, A quarrel between the production manager and the sales manager will not be recorded since its monetary effect cannot be measured with a fair degree of accuracy.

2) Personal Transaction

For eg, Rent paid by the proprietor for his house from his own pocket will not be recorded in the books of accounts unless it is paid from the cash withdrawn from business.

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