1
Question
Accounting measures the business transactions in terms of ________units.
Accounting measures the business transactions in terms of ________units.
Open in App
Solution
The correct option is C Monetary
Money measurement concept of accounting says that only transactions which are having monetary value should be recorded in books of account. If the transaction does not involve any monetary value, might be affecting the business, but this will not be recorded in books of account. If Managing Director is seriously sick, this may naturally affect the business but does not carry any monetary value, hence no implication will be given to books of account.
Money measurement concept of accounting says that only transactions which are having monetary value should be recorded in books of account. If the transaction does not involve any monetary value, might be affecting the business, but this will not be recorded in books of account.
If Managing Director is seriously sick, this may naturally affect the business but does not carry any monetary value, hence no implication will be given to books of account.
Suggest Corrections
0
Similar questions
View More
Join BYJU'S Learning Program
Explore more
Join BYJU'S Learning Program
