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Can there be a gift and a non-monetary exchange to record in the same transaction?

April 26, 2017exchange gift non-monetary record transaction

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Can there be a gift and a non-monetary exchange to record in the same transaction?

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A. Yes, when the gift transaction involves both receiving and providing goods and/or services, a non-monetary exchange is likely to be involved. See examples 1 and 3 in Section 13.7 Non-Monetary Exchange Transactions.