Transaction& events not capable of being expressed in terms of money are not to be recorded in accounting due to

Question

Quizplus · Accepted Answer

The money measurement concept in accounting states that only transactions and events that can be measured in monetary terms are recorded in the financial statements. Non-monetary events or transactions, no matter how significant, are not recorded because they cannot be quantified in monetary terms.

Transaction& Events Not Capable of Being Expressed in Terms of Money