The accounting convention that means only those transactions that are capable of being expressed in monetary terms are recorded, is the:
A)money measurement convention.
B)historical cost convention.
C)conservatism convention.
D)reliability convention.

Question

Quizplus · Accepted Answer

The convention that means only transactions that can be expressed in quantitative monetary terms are recorded is called the money measurement convention. It requires accountants to only record transactions that can be reliably measured in monetary terms.

The Accounting Convention That Means Only Those Transactions That Are