UrbanPro
true

Take Class 12 Tuition from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Search in

Introduction To Accounting: Part 13: Money Measurement Concept

Nishant Kumar
28/06/2017 0 0
  1. According to the Money Measurement Concept, only those transactions and events are recorded in the books of accounts which can be measured in terms of money.

  2. Therefore, a transaction which cannot be measured in terms of money, no matter how crucial it is to the business entity, is not recorded.

  3. For example, suppose there is a very hard working and an intelligent employee in the company with the help of whom, the business keeps on growing every day. Suddenly, this employee resigns. Now, this would be a huge loss of skill to the company. But, since resignation of an employee cannot be measured in terms of money, this will not be recorded in the books of accounts of the Company.

 

0 Dislike
Follow 0

Please Enter a comment

Submit

Other Lessons for You

How to Pass Entries under GST Regime?
How to Pass Entries under GST Regime: Under the new GST Regime all these taxes (excise, VAT, CST, Service tax, Entry Tax) will get subsumed into one account and assesse will get benefit of setting of...

Columns That Are Typically Used In The Purchase Journal.
A Purchase Journal is a record of all acquisitions made on credit during a period. In other words, this is the Journal that keeps track of the orders placed using vendor credit or accounts payable as well...
K

Khushboo B.

1 0
0

Be Exam Oriented while studying for the Exams
Examinations are the ultimate test of the student.Even if one is doing his/her best during school/college days and confidently handling any academic questions until unless he/she scores good marks in Exams/Tests...

How Do Atoms Combine to Make Compounds?
Atoms combine with each other to form various compounds. The smallest unit of a substance which can exist independently is called a molecule. So, atoms combine with each other to form molecules. These...

Electric current
Brief description about Electric Current:
B

BHARTI Coaching Institute

0 0
1
X

Looking for Class 12 Tuition Classes?

The best tutors for Class 12 Tuition Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Take Class 12 Tuition with the Best Tutors

The best Tutors for Class 12 Tuition Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more