Which accounting principle makes it easy to make comparisons in financial statements for two consecutive years because of uniformity in currency?

Question
Answer:
The set of generally accepted accounting principles (GAAP) includes a specific provision relating to currency, known as the "monetary unit assumption". This states that the unit of measurement for economic activity will be U.S. dollars, and only dollar-denominated transactions are to be recorded. This measure ensures currency uniformity year-on-year.
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general 5 months ago 9233