BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -According to the money measurement concept, any transaction which can be measured in monetary value and are relevant to business transactions, will be recorded and anything otherwise will be left out of the records.

Detailed explanation-2: -According to the money measurement concept, only economic events, i.e, those transactions which can be measured in terms of money are recorded in books of account.

Detailed explanation-3: -Accrual accounting follows the matching principal, which states that revenues and expenses should be recorded in the same period. Accrual accounting is encouraged by International Financial Reporting Standards(IFRS) and Generally Accepted Accounting Principles (GAAP).

Detailed explanation-4: -2 Money Measurement Concept The concept of money measurement states that only those transactions and happenings in an organisation which can be expressed in terms of money such as sale of goods or payment of expenses or receipt of income, etc., are to be recorded in the book of accounts.