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It is used as a store of value.
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What the three functions of money?
Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account.
What are the three functions of money?
Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account.
what are the functions of money?
jmm
What accounting function can be performed only by a CPA?
accounting functions
What is the 5 main function of accounting?
The 5 major functions of accounting are recording, classification, analysis and Interprets, Communication and Summarizing. These functions defines the accounting profession.
Goals and functions of financial management?
Some of the goals include ensuring profits are realized and that money is channeled to the right places. Functions include budgeting, accounting, and auditing of finances.
Various types of accounting packages along with their functions?
discuss brifly various types of accounting packages along with their functions
What is the main functions of Money in economic system?
Money is often defined in terms of the three functions or services that it provides. Money serves:1. As a medium of exchange2. As a store of value, and3. As a unit of account
What is current purchasing power accounting?
it is also known as general price level accounting. under this method all items in the financial statements are restated in terms of constant unit of money.
How does management accounting facilitate the carrying out of management functions?
Management accounting gives the organization's management the tools to plan ahead. It allows the managers to figure out where the company is losing money, and how it can maximize productivity and profits.
What is monetary unit assumption?
"The monetary unit assumption requires that companies include in the accounting records only transactions data that can be expressed in terms of money. This assumption enables accounting to quantify (measure) economic events. The monetary unit assumption is vital to applying the cost principle. This assumption prevents the inclusion of some relevant information in the accounting records. For example, the health of the owner, the quality of service, and the morale of employees are not included. The reason: Companies cannot quantify this information in terms of money. Though this information is important, only events that can be measured in money are recorded." Source: "Accounting Principles" Wiley. 8th edition. Weygant; Kieso; Kimmel.
What is the monetary unit assumption?
"The monetary unit assumption requires that companies include in the accounting records only transactions data that can be expressed in terms of money. This assumption enables accounting to quantify (measure) economic events. The monetary unit assumption is vital to applying the cost principle. This assumption prevents the inclusion of some relevant information in the accounting records. For example, the health of the owner, the quality of service, and the morale of employees are not included. The reason: Companies cannot quantify this information in terms of money. Though this information is important, only events that can be measured in money are recorded." Source: "Accounting Principles" Wiley. 8th edition. Weygant; Kieso; Kimmel.
