Question

A dentist received accounting services in exchange for dental work provided to a patient does this Included or excluded ?

Answer 1

Exchanging dental work for accounting services is excluded from the dentist's accounting records.

Step-by-step explanation:

In this case, the exchange of accounting services for dental work is considered to be excluded from the dentist's accounting records. This is because it is an exchange of services, rather than a monetary transaction. When accounting for barter transactions, the general rule is that they are not recorded as revenue or expense. Instead, they are recognized only if the transactions have commercial substance, meaning they result in a change in the rights and obligations of the parties involved.