Which of the following is not an underlying principle of accrual accounting?
A)measurement
B)monetary unit
C)revenue and expense recognition
D)recognition

Question

Quizplus · Accepted Answer

The monetary unit principle states that financial transactions should be measured and reported in a common monetary unit, such as the US dollar. This principle is an underlying principle of accrual accounting. The other three choices--measurement, revenue and expense recognition, and recognition--are all underlying principles of accrual accounting.

Which of the Following Is Not an Underlying Principle of Accrual