What is meant by the bold words in context of lines ?
- The monetary unit though an inelastic yardstick , remains indispensable tool of accounting
- While trading , if a businessman sells goods worth rs.10 lakh at home and goods worth 1000$ in USA .These aren't amenable to even arithmetic treatment . So transactions are to be recorded at uniform monetary unit i.e. in one currency .
Thank you !
CAclubindia
