Question

The transaction which involves an exchange of money or money’s worth directly and indirectly Non-Monetary transactions. ​

Answer 1

Answer:

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Answer 2

Answer:

A nonmonetary transaction occurs when a business or commerce activity concludes without the transfer of money between accounts for parties tied to the transaction. Nonmonetary transactions can be something as simple as a change of address or can refer to more complex transactions in the financial sector.

For example, a $0 deposit to initiate an automated clearing house transaction (e.g., direct deposit or auto-withdrawal) would be considered a nonmonetary transaction. The even, or in-kind, exchange of assets (e.g., transferring property or inventory) is another nonmonetary transaction. In cases of property exchange, the fair values of the underlying assets need to be determined, if possible.

Explanation:

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