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
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
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.
Numerology
Chaldean Numerology
The numerical value of Unit of account in Chaldean Numerology is: 6
Pythagorean Numerology
The numerical value of Unit of account in Pythagorean Numerology is: 9
Translations for Unit of account
From our Multilingual Translation Dictionary
- وحدة الحسابArabic
- RechnungseinheitGerman
- λογιστικής μονάδαςGreek
- unuo de kontoEsperanto
- unidad de cuentaSpanish
- unité de compteFrench
- खाते की इकाईHindi
- elszámolási egységHungarian
- unità di contoItalian
- アカウントの単位Japanese
- 회계의 단위Korean
- rekeneenheidDutch
- unidade de contaPortuguese
- расчетная единицаRussian
- கணக்கு அலகுTamil
- hesap birimiTurkish
- کھاتے کا عددUrdu
- 會計單位Chinese
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"Unit of account." Definitions.net. STANDS4 LLC, 2024. Web. 10 Oct. 2024. <https://www.definitions.net/definition/Unit+of+account>.
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