Accountants need not worry about calculations based on the concept of the time value of money.

Question

Quizplus · Accepted Answer

Accountants need to take into consideration the time value of money in order to accurately calculate and present financial information. This concept considers the fact that money has a different value over time due to inflation, interest rates, and other factors. Not considering the time value of money can result in inaccurate financial statements and decision-making.

Accountants Need Not Worry About Calculations Based on the Concept