Ask Question
23 June, 21:38

Which of the following assumptions means that money is the common denominator of economic activity and provides an appropriate basis for accounting measurement and analysis? a. periodicityb. monetary unitc. going concernd. economic entity

+3
Answers (1)
  1. 24 June, 01:36
    0
    The correct answer is letter "B": monetary unit.

    Explanation:

    The monetary unit accounting assumption states that transactions and must be recorded in a monetary unit to set a measurable basis for all the operations of a business. This approach has two limitations: inflation and the fact that there might be assets that are not easy to quantify - knowledge for instance.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Which of the following assumptions means that money is the common denominator of economic activity and provides an appropriate basis for ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers