Question

what do you understand by money measurement ​

Answer 1

• The money measurement concept states that a business should only record an accounting transaction if it can be expressed in terms of money. Thus, a large number of items are never reflected in a company's accounting records, which means that they never appear in its financial statements.

Answer 2

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• The money measurement concept (also called monetary measurement concept) underlines the fact that in accounting and economics generally, every recorded event or transaction is measured in terms of money, the local currency monetary unit of measure.