1. easily to known about it because mainly all type of transaction is based on money in accounting.
2.it is continuous process.
3.is is never ending process.
Money Measurement Concept in accounting, also known as Measurability Concept, means that only transactions and events that are capable of being measured in monetary terms are recognized in the financial statements.
only those transactions which can be measured in terms of money are recorded.Since money is the medium of exchange and the standard ecnomic value, this concept requires that those transactions alone that are capable of being measured in terms of money be only be recorded in the books of accounts
list 5 advantages of prudence concept
source : "Ultimate book of accountancy" Ans: Main concepts of accounting are (1) Business entity concept (2) Money Measurement concept (3) Cash and Accrual Concept (4) Prudence concept (5) Cost concept (6) Matching Concept For more detail.... see... "ULTIMATE BOOK OF ACCOUNTANCY" Published by vishvas publications ... vishvasbook@yahoo.com
Opening a demat account is the first thing that you must do while you are going for online trading. It is the concept of making money from the comfort of home and allows you to earn huge.
Money Measurement Concept in accounting, also known as Measurability Concept, means that only transactions and events that are capable of being measured in monetary terms are recognized in the financial statements.
what are the advantages of level measurement? what are the advantages of level measurement? what are the advantages of level measurement?
what are the advantages of level measurement? what are the advantages of level measurement? what are the advantages of level measurement?
It is a pre-condition, that only those transactions which can be measured in terms of money are to be recorded.
what are the advantages of level measurement? what are the advantages of level measurement? what are the advantages of level measurement?
The business office, stocks, and company cars are examples of the Money Measure Concept. It is sometimes called Measurability Concept and means that only events and transactions that can be measured in monetary terms is recognized in the financial statement.
Some advantages of liquid level measurement include real-time monitoring, improved process control, early detection of leaks or spills, and increased safety by preventing overfilling or underfilling of tanks.
The historic cost concept is an extension of the money measurement rule. It requires transactions to be recorded at the "original" cost. The changes in prices or values will be ignored.
list 5 advantages of prudence concept
only those transactions which can be measured in terms of money are recorded.Since money is the medium of exchange and the standard ecnomic value, this concept requires that those transactions alone that are capable of being measured in terms of money be only be recorded in the books of accounts
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one disadvantage is that we could get a measurement mixed up with another measurement.