martinmethod.com roups- 2018 Fall Term (1) Organizati. AceMyHomework.com Assignm

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martinmethod.com roups- 2018 Fall Term (1) Organizati. AceMyHomework.com Assignment: 1. The Basic Principles (Unit 1) Financial Accounting MAIN MENU RUE FALSE MULTIPLE CHOICE FILL IN PROBLEMS (none) 34 15 16 17 18 19 02220 17 11922 20 27 22 30 Question 5: The accounting concept (assumption) that states that only events that can be stated in monetary terms are recorded and that the value of a dollar remains stable over time is called the: Cost principle Going concern assumption Entity concept Monetary unit assumption 71% TIMER: 20:39 GRADE:

Explanation / Answer

Answer is option D Monetary unit assumption

Monetary unit assumption which is also referred as money measurement concept depicts that only those events and transactions are recorded in books of accounts of the business which can be measured and expressed in monetary terms.

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