Accounting does not record non financial transactions because of
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Accounting does not record non-financial transactions due to
Answered by admin @
⭐Hey mate
⚡here is your answer.
⚡Description: As per the money measurement concept only those transactions which can be measured in terms of money are recorded in financial statements.
⚡Any transaction which is not convertible in monetary terms, will not be recorded in financial statements even if it effects the results of the business materiality. Therefore, non- monetary transactions are not recorded in books of accounts.
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