Search answer for your unanswered questions.

Class : 11
Unit : Account

Write in brief about money measurement concept.

Ans : According to this concept, only the monetary transactions of the business are recorded in the books of account. Those transaction, which cannot be expressed in monetary value are not recorded in the books of account. For example the events like accident of the manager, conflict between management and employees, Strike by the employees etc. are not recorded in books since they have no monetary value.
    Did you find this answer useful? Then to view other answers easily.