Values Received and Values Parted Wtih

Again, a business transaction is an exchange of values. There's a give and take in a business transaction. There are two items that must be considered and analyzed in a business transaction, the value received and the value parted with.

These two values reciprocate each other in terms of financial measurements or money equivalent.  (See measurement concepts)

However, the nature of the value is varied in forms and should be readily recognized. (See recognition concepts)

In the study of these values as to their ready recognition, the following must be kept in mind:

Guiding principle for recognition:  

Give and take in a business transaction.

(One value is received and another value is parted with) 

The following illustrates the ready recognition of the various forms of values (the value received or the value parted with) in a business transaction:

1. A form of property is received in exchange for money parted with.
2. A form of property is parted with in exchange for money received.
3. Use of property, or hire of services, of another person is received in exchange for money parted with.
4. Use of property, or hire of services, of another person is parted with in exchange for money received.  
5. An oral promise (from an individual or entity) to pay is received in consideration for a thing of value parted with.
6. An oral promise (by an individual or entity) to pay is parted with in consideration for a thing of value received.
7. An oral promise (from an individual or entity) is received in consideration for the hire of services by the entity.
8. An oral promise (by an individual or entity) to pay is the value parted with in consideration for the hire of services of another.
9. An oral promise (from an individual or entity) to pay is the value received in exchange for the hire (or use) of the property. 
10. An oral promise (by an individual or entity) to pay is the value parted with in exchange for the hire (or use) of the property. 
11. Cancellation of oral promise to pay is the value received in consideration for the money parted with.
12. Cancellation of oral promise to pay is the value parted with in consideration for the money received.
13. Implied promise to safeguard the proprietary interest in consideration for money or property received.
14. Reduction of its responsibility to safeguard the proprietary interest in consideration for money or property parted with.

Note, click the above various forms of values to read their examples and its analysis.