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What is unit of account

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What is unit of account

Posted by Dolly Kumari 6 years, 9 months ago

CBSE > Class 12 > Economics

1 answers

Alisha Jameson 6 years, 9 months ago

A unit of account in economics is a nominal monetary unit of measure or currency used to represent the real value (or cost) of any economic item; i.e. goods, services, assets, liabilities, income, expenses. It is one of three well-known functions of money. It lends meaning to profits, losses, liability, or assets.

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