180k views
5 votes
Which method of trade payment occurs when a firm accepts something other than money for goods or​ services?

a) Barter
b) Credit card
c) Cash on delivery
d) Wire transfer

User Goric
by
7.3k points

1 Answer

7 votes

Final answer:

In trade, when goods or services are exchanged for other goods or services without using money, it is referred to as bartering. This contrasts with forms such as credit cards or wire transfers that involve monetary transactions.

Step-by-step explanation:

The method of trade payment where a firm accepts something other than money for goods or services is known as barter. This is the oldest form of trade where goods and services are exchanged directly for other goods or services without the use of money as an intermediary. Unlike credit card payments, cash on delivery, or wire transfer, bartering involves a mutual exchange that does not rely on the current banking system or currency.

User Liu Lei
by
7.9k points