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March 18, 2026The Accounting Review

The Role of Liquidity in Exchange Valuation.

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Authors

RSRobert R. SterlingUniversity of Notre DameRFRichard E. FlahertyCollege of Accounting

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Implication

Article investigates liquidity's impact on exchange valuation in economic systems, suggesting implications for valuation rules.

Key Points

  • To explore how liquidity influences the valuation of goods during exchanges under the historical cost system.
  • Described the historical cost system for valuing goods during exchange.
  • Analyzed the two-way flow of goods involved in exchanges.
  • Examined the double effect of exchanges on account entries.
  • Established the concept that exchanges increment one good while decrementing another.
  • Highlighted that value assignation in exchanges is often intuitive and not explicitly calculated.
  • Demonstrated the simplicity of cash exchanges where value is directly tied to cash quantity.

Cite This Study

Sterling et al. (1971) studied this question.

synapsesocial.com/papers/69ba420a4e9516ffd37a1f13https://doi.org/10.2308/tar-4487180
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1VALUE OR COST.1935
  2. 2Exchange of Nonmonetary Assets: An Interpretation Problem.1977
  3. 3Exchange Valuation: An Empirical Test.1972
  4. 4Improving the Equation of Exchange for Cryptoasset Valuation Using Empirical Data2024 · 1 citations
  5. 5The Evolution of "Value": From Barter to Digital Exchange2026