Question

Which of the following is observed under money measurement concept?

a. Transactions of only financial nature are recorded

b. Distinction between capital and revenue expenditure is made

c. Revenue is recognised on its realisation (d) All of the above Which of the following is observed under money measurement concept?

a. Transactions of only financial nature are recorded

b. Distinction between capital and revenue expenditure is made

c. Revenue is recognised on its realisation (d) All of the above ​

Answer 1

Answer:

option a) is correct

Explanation:

The money measurement concept states that a business should only record an accounting transaction if it can be expressed in terms of money. This means that the focus of accounting transactions is on quantitative information, rather than on qualitative information