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What is the abbreviation for unit of account?
Looking for the shorthand of unit of account? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: unit of account.
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| Term | Definition | Rating |
|---|---|---|
| UA | Unit of Account |
What does unit of account mean?
- Unit of account
- In economics, unit of account is one of the money functions. A unit of account is a standard numerical monetary unit of measurement of the market value of goods, services, and other transactions. Also known as a "measure" or "standard" of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt. Money acts as a standard measure and a common denomination of trade. It is thus a basis for quoting and bargaining of prices. It is necessary for developing efficient accounting systems.
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"unit of account." Abbreviations.com. STANDS4 LLC, 2024. Web. 17 Jun 2024. <https://www.abbreviations.com/unit%20of%20account>.
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