Respuesta :
It is true that items not easily quantified in dollar terms are not reported in the financial statements. This is known as monetary unit assumption.
What is the Monetary Unit Assumption?
- The monetary unit concept is an accounting principle that assumes business transactions or events can be measured and expressed in terms of monetary units and the monetary units are stable and dependable. In other words, the language of business and finance is money.
- It doesn’t matter what currency it is as long as it’s stable and can be comparable to other currencies.
- Accounting information must be complete, neutral, and free from error. personal transactions are not mixed with the company's transactions.
To learn more about Monetary Unit Assumption, refer: https://brainly.com/question/14511295?referrer=searchResults
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