Unit Of Account

Business, Legal & Accounting Glossary

Definition: Unit Of Account

What is the dictionary definition of Unit Of Account?

Dictionary Definition

  1. A function of money enabling it’s 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 which is used only for accounting purposes.

Synonyms For Unit Of Account

numeraire, accounting unit, units of account, currency unit, unit of currency

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Unit Of Account. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 02, 2020 https://payrollheaven.com/define/unit-of-account/.
Chicago Manual of Style (CMS):
Unit Of Account. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/unit-of-account/ (accessed: July 02, 2020).
American Psychological Association (APA):
Unit Of Account. PayrollHeaven.com. Retrieved July 02, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/unit-of-account/

Definition Sources

Definitions for Unit Of Account are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th January, 2020 | 360 Views.