The basic unit in which data are stored in an accounting system is called an __________. These storage units should be so constr
ucted as to readily receive money measurements of the __________ or ___________ in the items for which they are established. The basic unit in which data are stored in an accounting system is called an __________. These storage units should be so constructed as to readily receive money measurements of the __________ or ___________ in the items for which they are established.
Remember, accounting involves activities done to keep financial records. Interestingly, a similar term is used to refer to the basic unit in which data are stored in an accounting system called accounts.
Also, we need to bear in mind that this financial records written as storage units would include incoming or outgoing money measurements often called debit or credit transactions in the items for which they are established.
