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


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Page URL
https://payrollheaven.com/define/unit-of-account/
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.