Accountancy, asked by daniellezduarte, 5 months ago

You are running a business. Do you record the monetary and non-monetary transactions in accounting during business? Explain this concept with an example.

Answers

Answered by navneetsinghal

Explanation:

A monetary transaction is one in which one institutional unit makes a payment (receives a payment) or incurs a liability (receives an asset) stated in units of currency

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You are running a business. Do you record the monetary and non-monetary transactions in accounting during business? Explain this concept with an example.​

Answers

You are running a business. Do you record the monetary and non-monetary transactions in accounting during business? Explain this concept with an example.