The accounting principle that requires that transactions are expressed using units ofmoney as the common denominator is the:
A)Monetary unit principle.
B)Going concern principle.
C)Cost principle.
D)Business entity principle.
E)Revenue recognition principle.

Question

Quizplus · Accepted Answer

The monetary unit principle requires that transactions are expressed in a common unit of money, such as the local currency. This is important for accurate recording and reporting of financial transactions.

The Accounting Principle That Requires That Transactions Are Expressed Using