Transactions or events that cannot be linked to a 'cost' or a 'market price' are not recognised.

Name: Transactions or events that cannot be linked to a 'cost' or a 'market price' are not recognised.
Brand: Quizplus
Rating: 4.8 (33 reviews)

Question

Quizplus · Accepted Answer

This statement is true. Transactions or events that cannot be linked to a cost or market price cannot be recognized in financial statements as they cannot be measured accurately. Examples of such transactions include employee morale, customer loyalty, and brand perception.

Transactions or Events That Cannot Be Linked to a 'Cost