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CBSE Class 11-commerce Answered

The extraordinary capabilities of the research department of the company lead to favorable result but the same was not recorded by the accountant. Why?
Asked by Topperlearning User | 09 Jun, 2016, 12:14: PM
answered-by-expert Expert Answer

According to money measurement concept, only those business transactions and events which can be expressed in money terms are recorded in the books of accounts.

Extraordinary capabilities of the research department cannot be measured in terms of money, and hence it is not recorded.

Answered by | 09 Jun, 2016, 02:14: PM
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