Accounting does not record non- financial transactions because of
A)Entity Concept
B)Accrual Concept
C)Cost Concept
D)Money Measurement Concept

Question

Quizplus · Accepted Answer

Accounting does not record non-financial transactions due to the Money Measurement Concept, which states that only those transactions and events that can be measured in terms of money are recorded in the accounting records. Non-financial transactions cannot be quantified in monetary terms, hence are not recorded.

Accounting Does Not Record Non- Financial Transactions Because of