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Question

Which of the following is related with Money Measurement Concept ?


  1. The transactions which cannot be expressed in form of money shall be recorded in the books.

  2. None of these

  3. All transactions shall be recorded in the books

  4. The transactions which cannot be expressed in form of money shall not be recorded in the books.


Solution

The correct option is D

The transactions which cannot be expressed in form of money shall not be recorded in the books.


According to the money measurement concept, any transaction which cannot be measured in monetary value will not be recorded and will be left out of the records, hence out of the above only option B is correct.

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