Which accounting assumption or principle requires that only those things that can be expressed in dollar values are included in the accounting records?

Question

Quizplus · Accepted Answer

The monetary unit assumption requires that only transactions that can be expressed in monetary terms are recorded in the accounting system. Therefore, only those things that can be measured in dollar values are included in the accounting records. The other principles listed (historical cost principle, periodicity assumption, and full disclosure principle) do not relate directly to the measurement and recording of transactions in terms of dollars.

Which Accounting Assumption or Principle Requires That Only Those Things