Which of the following transactions does not involve an exchange of value?
A) Payment of taxes
B) Purchase of a building on credit
C) Selling of merchandise
D) Loss from fire

Question

Quizplus · Accepted Answer

Loss from fire is an event in which no exchange of value takes place. It is simply a loss or damage to the property. Payment of taxes involves giving money in exchange for the government's services or infrastructure, purchasing a building on credit involves obtaining a building in exchange for future payments, and selling merchandise involves exchanging goods for money or other valuable consideration.

Which of the Following Transactions Does Not Involve an Exchange