Multiple choice

Exchange of old goods for new goods without any payment of money is called

  1. sale

  2. agreement to sale

  3. barter

  4. mortgage

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Option (3) is correct: When goods are exchanged for goods, it is called barter. Sale means exchange of goods for consideration in monetary terms. An agreement to sell is also sale, but at a future date. Mortgage means to pledge goods or property in security of a debt.