Only financial transactions are recorded in accountancy
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Only Financials Transactions are to be recorded because it is due to Money Measurement Concept , which states that only those transactions are to be recorded in books of accounts which consist of cash
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Only Financials Transactions are to be recorded because it is due to Money Measurement Concept , which states that only those transactions are to be recorded in books of accounts which consist of cash.
Hence , it is concerned with the Nominal value not the real value .
For example - Mohan purchase television for ₹ 12, 000 .
So this , will recorded in journal entry book as it has cash transactions.
Explanation:
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