What does Unit of account mean?

Definitions for Unit of account
Unit of ac·count

Here are all the possible meanings and translations of the word Unit of account.

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  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?

  1. Alex
    Alex
    US English
    Daniel
    Daniel
    British
    Karen
    Karen
    Australian
    Veena
    Veena
    Indian

How to say Unit of account in sign language?

  1. unitofaccount

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

Images & Illustrations of Unit of account

  1. Unit of account

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"Unit of account." Definitions.net. STANDS4 LLC, 2019. Web. 7 Dec. 2019. <https://www.definitions.net/definition/Unit+of+account>.

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