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Introduction to Book Keeping and Accountancy — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyIntroduction to Book Keeping and Accountancy1 Mark
Question
What is the money measurement concept?
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Answer

The money measurement concept implies that every business transaction must be recorded in a common unit of measurement i.e. in terms of money only.

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