The unit of measure assumption states that:
A)results of business activities should be reported in an appropriate monetary unit.
B)assets should be recorded at cost.
C)a business's financial reports include only the activities of the business.
D)assets equal liabilities plus stockholder's equity.

Question

Quizplus · Accepted Answer

The unit of measure assumption states that results of business activities should be reported in an appropriate monetary unit,which in the United States is the U.S.dollar.

The Unit of Measure Assumption States That