In book keeping both monetary and non monetary transact are recorded true or false

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Dallas Harrington

Social Studies

15 August, 10:51

In book keeping both monetary and non monetary transact are recorded true or false

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Adyson Owen · Answer 1

In book keeping both monetary and non monetary transact are recorded False.

Explanation:

In bookkeeping, only the monetary transaction is recorded. When a transaction of zero value money is made to the accounts of clients or vice versa, it is called a non-monetary transaction. The transaction can be an exchange of any asset such as goods or property.

But it cannot be money. These transactions are not recorded in bookkeeping as this transaction is not measurable while bookkeeping holds the records of values which can be measured or calculated.