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Money Measurement Concept

Non-economic ...

Question

Non-economic events are not recorded in the books of account. This is according to which concept?

A

Credit

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B

Going concern

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C

Cost concept

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D

Money Measurement

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Solution

The correct option is D
Money Measurement

According to the money measurement concept, any transaction which cannot be measured in monetary value will not be recorded in the books of account.

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