Question

What is money measurement concept?

Answer 1

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$\mathfrak{\blue{Q.}}$What is money measurement concept?

$\mathfrak{\blue{Ans.}}$ Only those transactions and events are recorded in accounting which are capable of being expressed in terms of money. An event, even though it may be very important for the business will not be recorded in the book of the business unless its effect can be measured in terms of money with of a degree of accuracy.

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Answer 2

Hey mate ^_^

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Answer:
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=> According to the Money Measurement Concept, only those events are recorded in the books of account to which money value can be attached.

=> These transactions are recorded in the currency of a particular country, say Rupee, Dollar, etc.

=> In our country, all monetary transactions are recorded in terms of Rupees.

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