____________ is used by business entities for keeping records of their monetary or financial transactions.

Accounting

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Cost accounting

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Costing

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Budgetary Control

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Solution

The correct option is A Accounting
Money measurement concept of accounting signifies that only those business transactions are recorded in the books of account of the business which are having monetary value.
If there is money, there is an accounting. No money No accounting.

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Accounting records business transactions and events which are of a financial nature.Is this a limitation of accounting?

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