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Non monetary transactions are not recorded …

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Non monetary transactions are not recorded in the books of accounts. Explain?

Posted by Shreya Shah 2 years, 3 months ago

CBSE > Class 11 > Accountancy

2 answers

Preeti Dabral 2 years, 3 months ago

Non-monetary transactions are not recorded in the book of accounts. For example, the skill level of the human resource an organisation possesses. The same is not recorded because it can not be measured. It is intangible and just can't be measured or valued.

Harsh Sodani 2 years, 2 months ago

Monetary transactions are the transactions which can be measured in monetary terms or in the terms of money like amount of sales amount of purchase cash Credit sales lost profit which are directly related to business and journal is the book of business so transactions not related to business like honesty of employees other qualitative aspects skillfulness etc transactions can't be recorded in journal

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