What is meant by the money measurement concept- explain the, Financial Accounting

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What is meant by the money measurement concept- explain the

1. What is meant by the "money measurement concept"?

2. Explain the concept of prudence in relation to the recognition of profits and losses.

3. Explain the term "materiality" as it is used in accounting.

4. The historical cost convention looks backwards but the going concern convention looks forwards.

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Financial Accounting: What is meant by the money measurement concept- explain the

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