Accounting for IGCSE & O level - Advanced Principles (Section 7 - No. 19)
What does the monetary measurement principle state?
That all transactions should be recorded in a company's local currency.
That every transaction must involve cash.
That all transactions must be expressed in monetary terms.
That accounting should focus on non-monetary assets.
Explanation
The monetary measurement principle states that all business transactions must be expressed in terms of money.
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