Question

Under which principle registration by marketing manager is not recorded in the book of account

Answer 1

Answer:

In books of accounts we always record Transactions only and not Events, as the Events do not have financial values assigned to it.

We record transactions as all the transactions have financial values assigned to it.

There is one more accounting concept known as Money Measurement Concept. According to this concept all transactions which are expressed in money terms are to be recorded in the books of accounts.