Explanation:

All of the above are correct.
In the beginning of civilization, human needs were simple and limited. People used to exchange goods with each other to satisfy their wants. Barter Exchange refers to exchange of goods for goods.
The major limitations of Barter Exchange are:
1. Lack of Double Coincidence of Wants:
Barter system can work only when both buyer and seller are ready to exchange each other’s goods. For example, A can exchange goods with B only when A has what B wants and B has what A wants. However, such double coincidence is very rare.
2. Lack of Common Measure of Value:
In the barter system, all commodities are not of equal value and there is no common measure (unit) of value of goods and services, in which exchange ratios can be expressed. For example, if A has wheat and B has rice, then it is difficult to decide, how much wheat is needed to exchange with one kilogram of rice. In the absence of common measure, the exchange ratio is fixed randomly, in which one of the party generally suffers.
Barter system can work with few commodities in the primitive society. However, it is very difficult in the modern economy, where we need millions of exchange ratios for a large number of goods and services
3. Indivisibility of Certain Goods:
The barter system is based on the exchange of goods with other goods. It is difficult to fix exchange rates for certain goods which are indivisible. Such indivisible goods pose a real problem, under barter. A person may desire a horse and the other a sheep and both may be willing to trade. The former may demand more than four sheep for a horse but the other is not prepared to give five sheep and thus there is no exchange.
If a sheep had been divisible, a payment of four and a half sheep for a horse might have been mutually satisfactory. Similarly, if the man with the horse wants only two sheep, then how will he exchange his horse for two sheep. As it is not possible to divide his horse, no trade will be possible between the two persons. Thus indivisibility of certain goods makes the barter system inoperative.
4. Difficulty in Storing Value:
Under the barter system it is difficult to store value. Anyone wanting to save real capital over a long period would be faced with the difficulty that during the intervening period the stored commodity may become obsolete or deteriorate in value. As people trade in cattle, grains, and other such perishable commodities, it is very expensive and often difficult to store and to prevent their deterioration and loss over the long period.
5. Difficulty in Making Deferred Payments:

In a barter economy, it is difficult to make payments in future. As payments are made in goods and services, debt contracts are not possible due to disagreements on the part of the two parties on the following grounds: It would often invite controversy as to the quality of the goods or services to be repaid.
The two parties would often be unable to agree on the specific commodity to be used for repayment. Both parties would run the risk that the commodity to be repaid would increase or decrease seriously in value over the duration of the contract.
For example, wheat might rise markedly in value in terms of other commodities, to the debtor’s regret, or decrease markedly in value, to the creditor’s regret. “Thus it is not possible to make just payments involving future contracts under the barter system.
6. Lack of Specialisation:
Another difficulty of the barter system is that it is associated with a production system where each person is a jack-of-all trade. In other words, a high degree of specialisation is difficult to achieve under the barter system.
Specialisation and interdependence in production is only possible in an expanded market system based on the money economy. Thus no economic progress is possible in a barter economy due to lack of specialisation. The abovementioned difficulties of barter have led to the evolution of money.