O-LevelAccountingAccounting principles and policies7707/11 · May/June 2014 · Q301 Mark
What is the meaning of the money measurement principle?
AAssets are normally shown at cost price.
BOnly items with a monetary value are included in the accounts.
CProfits are calculated after allowing for accruals and prepayments.
DProfits are calculated on the basis of cash received less cash paid.
✓ Correct answer
B: Only items with a monetary value are included in the accounts.
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