accounting records transaction and events that can be measured in money terms is this in your opinion or limitation of the accounting,or An advantage ? give reason.
Answers
Answer:
Yes. Accounting records only financial transaction and events. It is an advantage as transactions of diverse nature are recorded using a common yardstick, i.e., money. ... They are not recorded because they cannot be measured in money terms.
Explanation:
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Answer:
Money measurement concept is an important accounting concept according to which only those transactions are recorded in the books of accounts which can be measured in terms of money this is because money is the common unit of measurement so only those transactions which are capable of being measured in terms of money be recorded in the books of accounts this'll help to ascertain the financial position of the business and to perform accounting with this principle is beneficial for organisation
Explanation:
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