What does Unit of account mean?

Definitions for Unit of account
unit of ac·count

This dictionary definitions page includes all the possible meanings, example usage and translations of the word Unit of account.

Wikipedia

  1. Unit of account

    In economics, unit of account is one of the money functions. A unit of account is a standard numerical monetary unit of measurement of the market value of goods, services, and other transactions. Also known as a "measure" or "standard" of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt. Money acts as a standard measure and a common denomination of trade. It is thus a basis for quoting and bargaining of prices. It is necessary for developing efficient accounting systems.

Wikidata

  1. Unit of account

    A unit of account is a standard monetary unit of measurement of value/cost of goods, services, or assets. It is one of three well-known functions of money. It lends meaning to profits, losses, liability, or assets. The accounting monetary unit of account suffers from the pitfall of not being a stable unit of account over time. Inflation destroys the assumption that money is stable which is the basis of classic accountancy. In such circumstances, historical values registered in accountancy books become heterogeneous amounts measured in different units. The use of such data under traditional accounting methods without previous correction often leads to invalid results.

How to pronounce Unit of account?

How to say Unit of account in sign language?

Numerology

  1. Chaldean Numerology

    The numerical value of Unit of account in Chaldean Numerology is: 6

  2. Pythagorean Numerology

    The numerical value of Unit of account in Pythagorean Numerology is: 9


Translations for Unit of account

From our Multilingual Translation Dictionary

Get even more translations for Unit of account »

Translation

Find a translation for the Unit of account definition in other languages:

Select another language:

  • - Select -
  • 简体中文 (Chinese - Simplified)
  • 繁體中文 (Chinese - Traditional)
  • Español (Spanish)
  • Esperanto (Esperanto)
  • 日本語 (Japanese)
  • Português (Portuguese)
  • Deutsch (German)
  • العربية (Arabic)
  • Français (French)
  • Русский (Russian)
  • ಕನ್ನಡ (Kannada)
  • 한국어 (Korean)
  • עברית (Hebrew)
  • Gaeilge (Irish)
  • Українська (Ukrainian)
  • اردو (Urdu)
  • Magyar (Hungarian)
  • मानक हिन्दी (Hindi)
  • Indonesia (Indonesian)
  • Italiano (Italian)
  • தமிழ் (Tamil)
  • Türkçe (Turkish)
  • తెలుగు (Telugu)
  • ภาษาไทย (Thai)
  • Tiếng Việt (Vietnamese)
  • Čeština (Czech)
  • Polski (Polish)
  • Bahasa Indonesia (Indonesian)
  • Românește (Romanian)
  • Nederlands (Dutch)
  • Ελληνικά (Greek)
  • Latinum (Latin)
  • Svenska (Swedish)
  • Dansk (Danish)
  • Suomi (Finnish)
  • فارسی (Persian)
  • ייִדיש (Yiddish)
  • հայերեն (Armenian)
  • Norsk (Norwegian)
  • English (English)

Word of the Day

Would you like us to send you a FREE new word definition delivered to your inbox daily?

Please enter your email address:


Citation

Use the citation below to add this definition to your bibliography:

Style:MLAChicagoAPA

"Unit of account." Definitions.net. STANDS4 LLC, 2024. Web. 19 Mar. 2024. <https://www.definitions.net/definition/Unit+of+account>.

Discuss these Unit of account definitions with the community:

0 Comments

    Are we missing a good definition for Unit of account? Don't keep it to yourself...

    Image or illustration of

    Unit of account

    Credit »

    Free, no signup required:

    Add to Chrome

    Get instant definitions for any word that hits you anywhere on the web!

    Free, no signup required:

    Add to Firefox

    Get instant definitions for any word that hits you anywhere on the web!

    Browse Definitions.net

    Quiz

    Are you a words master?

    »
    lighter consisting of a thin piece of wood or cardboard tipped with combustible chemical; ignites with friction
    A match
    B equity
    C substitute
    D apex

    Nearby & related entries:

    Alternative searches for Unit of account: