The unit-of-measure assumption states that ﬁnancial information is reported in the national monetary unit.

Question

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This assumption states that financial information is reported in the currency used by the country in which the company operates. This means that if a company is based in the United States, its financial statements will be reported in U.S. dollars. If the company operates in another country, its financial statements may be reported in a different currency.

The Unit-Of-Measure Assumption States That ﬁNancial Information Is Reported in the National