Only events that can be measured will be reflected in the journal entries.

Name: Only events that can be measured will be reflected in the journal entries.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Journal entries are written based on actual transactions that can be measured and quantified. It is important to have accurate and reliable data for financial reporting purposes, and therefore only measurable events can be reflected in the journal entries.

Only Events That Can Be Measured Will Be Reflected in the Journal