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

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 future date. Mortgage means to pledge goods or property in security of a debt.