Explain the basic economics of what is being received and what is being given up in each of the following business transactions.
(a) A company sells packaging material to another company. The terms of sale require full payment upon delivery.
(b) A company sells packaging material to another company. The terms of sale require payment over one year with interest.
(c) A law firm provides legal services to an accounting firm. In lieu of payment, the accounting firm provides accounting services to the law firm.
(d) A company sells telecommunications equipment for a set fee that includes delivery, installation, a 60-day trial period, a three-year maintenance package (often sold separately), and a one-year manufacturer's warranty (often sold separately). Payment will be received over one year without interest.