Question

Which Concept facilitates recording of business events on a uniform basis​

Answer 1

Answer:

Consistency Concept

Explanation:

Consistency Concept

Answer 2

The concept which facilitates recording of business events on a uniform basis​ is Money Measurement Concept.

Money measurement Concept:

• Money Measurement concept states that a business should only record the transactions which can be expressed in monetary terms.
• This concept is also referred as Measurability Concept.
• This concept guides accountants what to record and what not to record.
• It helps in recording business transactions uniformly.
• From this concept it is easy to understand the accounts prepared by the business enterprise.
• Hence, the correct answer is Money Measurement Concept.

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