The currency in which assets, liabilities, revenue, and expense are measured.

Name: The currency in which assets, liabilities, revenue, and expense are measured.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Unit of measure is the choice that describes the currency in which assets, liabilities, revenue, and expense are measured in accounting. The unit of measure is typically the currency of the country where the business operates. This measurement is important for the accuracy and consistency of financial reporting.

The Currency in Which Assets, Liabilities, Revenue, and Expense Are