unit of account meaning

  "unit of account" in a sentence
noun
  A monetary unit not necessarily corresponding to any actual denomination of currency and in certain cases of variable value, used as a basis of exchange or comparison or as a unit in accounting

[Business]
noun [C]

(Accounting ; Economics )

1

money when it is used to measure the value of goods or services and to keep financial records

2

the standard system of money that is used in a particular country

3

a special system of money that is created only for accounting


[Economics]
1) A function of money enabling its users to calculate the value of their transactions and to keep accounts.

2) The standard unit of currency of a country.

3) An artificial currency used only for accounting purposes.

Examples

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  1. unit of account means the unit of account mentioned in article 26.
  2. unit of account means the unit of account mentioned in article 26.
  3. gold is no longer the unit of account of the sdr
  4. the unit of account for deferred payment of debts is also money
  5. money provides a unit of account that serves as a standard to measure value

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