Accountants record ________.
A) economic recessions
B) estimated future transactions
C) only those events that have dollar amounts than can be measured reliably
D) the $20,000 increase in value of a building that actually costs $50,000 but could be sold for $70,000

Question

Quizplus · Accepted Answer

Accountants only record events that have dollar amounts that can be measured reliably. This is the concept of monetary unit assumption in accounting. Economic recessions and estimated future transactions are not recorded, and the increase in value of a building is not recorded until it is actually sold or there is evidence of impairment.

Accountants Record ________