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What does barter mean?

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Question added by Khaled Abdelrehim ACCA DipIFR CMA , Financial Analysis Assistant General Manager , Khalda Petroleum Company
Date Posted: 2014/10/02
Kamran Anjum
by Kamran Anjum , Head of Internal Audit , Rafhan Maize Products Company limited, Faisalabad, Pakistan, Ingredion Incorporated Gmbh

Barter is a system of exchange by which goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money.

exchange (goods or services) to trade by exchange of commodities rather than by the use of money.

 

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

The Money value of goods and services provided exchanged and received back in the same manner without using legal tender.

Sara Khan
by Sara Khan , financial and admin assistant , Ministry Of Defence

 A trade in which goods and services are exchange by goods..in other words money free trade.

Ahmed Abd Alwahab Awad Ibrahim
by Ahmed Abd Alwahab Awad Ibrahim , Chief Accounting , ICCDP

This the trade & exchange of goods or services for other goods or services, rather than for money.

FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

 'BARTER' is 

The act of trading goods and services between two or more parties without the use of money. 

Bartering benefits individuals, companies and countries that see a mutual benefit in exchanging goods and services rather than cash, and it enables those who are lacking hard currency to obtain goods and services.

 

Barter is the system used between people before the creation of money whether metal or paper.

But still today this system is used between large companies. For example if there is a large business relationship between two organizations and one of the invoices is due and the company is not able to pay in cash. So the other company will take instead products sold by the other company.

Muhammad Waqas Hussain
by Muhammad Waqas Hussain , Sales Executive (Food Ingredients,Feed ,Agri Fertilizer, Water Treatment Chemicals) , Gulf Hygiene Co.Ltd

Exchanging one commodity (goods or services) for another, without the use of money.

Malik Khalid Mahmood
by Malik Khalid Mahmood , Regional Finance Manager , Leosons International FZ LLC

Exchange of goods and services with approximate equal value in old days of life.

georgei assi
by georgei assi , مدير حسابات , المجموعة السورية

Barter system is primitive and individuals concerned with the conduct exchange their products without the use of money, or in other words, is the replacement of a commodity other commodity. This means that the seller is the buyer himself

SREEDEVI SUNILKUMAR
by SREEDEVI SUNILKUMAR , Business finance officer , Emirates Airline

The exchange of goods or services for other goods or services, rather than for money.

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