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In accounting, only those
business transactions and events which are of financial nature
are recorded
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∙ 10y ago
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What is the basic assumption of economics?
they lik money
What are 5 Ms of Advertising?
The 5 M's of advertising are: Mission Money Message Media Measurement The 5 M's of advertising are: Mission Money Message Media Measurement The 5 M's of advertising are: Mission Money Message Media Measurement The 5 M's of advertising are: Mission Money Message Media Measurement
Who is the father of modern accouting?
The father of modern acccounting is Luca Pacioli! (c. 1447 – 19 June 1517)
Is there Accounting in University of Ado Ekiti?
Yes,there is Acccounting as a discipling in university of Ado Ekiti now Ekiti state University.
What are the problems of money?
some of the problems of money includes: lack of measurement of values.
What is the Acccounting entry for Office Equipment at Cost?
if we bought i unit computer the entry is DR - - - - Equipment at cost Cr ------------------------------------------ Cash in Bank
What is the measurement for money after billion?
Trillion = 1,000 billion
What are some examples of ratio level of measurement?
Examples of ratio level of measurement are age, weight, and amount of money.
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.
How would a standard system of money and measurement help trade?
,
What does Scrooge whisper in his ear?
It is unknown, but the assumption is that he agreed to contribute a very large sum of money to the charity.
