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WAEC Financial Accounting 2026 Question 50

Question 50

Accounting Concepts and Conventions

A limitation of money measurement concept is that it does not show a firm's.

  1. A.profit for the period
  2. B.quality of labour
  3. C.credit worthiness.
  4. D.assets value
Show the answer and explanation

Answer: B (quality of labour)

Explanation

Only things measurable in money are recorded, so non-money facts such as the quality of labour are left out.