Hover for more information. The monetary unit assumption has two characteristics – quantifiability and stability of the currency. 7. Question: Identify The Accounting Assumption, Principle, Or Constraint That Describes Each Situation Below. The characteristics of a state are that it must have sovereignty, an established government, clearly defined borders, and a permanent population. Expert Answers. From his practical experience, he developed some The _____ characteristic requires that the same accounting method be used from one accounting period to the next, unless it becomes evident that an alternative method will bring about a better description of a firm's financial situation. Bank lend for short periods only because they lend public money which can be withdrawn at any time by depositors. Liquidity: Liquidity is an important principle of bank lending. Principles of Management by Henri Fayol Henri Fayol is claimed to be the real father of modern management. ADVERTISEMENTS: Banks follow the following principles of lending: 1. Quantifiability means that records should be stated in terms of money, usually in the currency of the country where the financial statements are prepared. He was a Frenchman born in 1841 and was working as an engineer with a mining company. While a deeper look at money did raise many questions, there are at least some foundational truths that can be discerned about money.. For example, many economists and experts in the field agree that money must be a medium of exchange, a unit of account, and a store of value: THE PRINCIPLES OF JOINT OPERATIONS In conducting contemporary operations, commanders generally consider 13broad principles collectively known as “the principles of joint operations.” They combine the long-standing principles of war with four additional principles of operations 1 developed through experience in irregular warfare. He improved the condition of the company from virtual bankruptcy to high success. Governance Principles, Institutional Capacity and Quality Introduction ... (money, time, labour, etc.). Infographic: The Properties of Money. If the value of money quickly appreciates, a process known as deflation, people will hoard money and normal economic processes will break down.If the value of money falls quickly, a process known as inflation, people will spend it as soon as they get it and it will no longer represent a store of value. They, therefore, advance loans on the security of such assets which are easily marketable and convertible into […] User: A useful characteristic of money is that money Weegy: A useful characteristic of money is that money allows us to compare the values of goods and services. Do Not Use Any Asumption, Principle Or Constraint More Than Once. Money acts as a unit of account, a medium of exchange and a store of value. The six characteristics of money are durability, portability, acceptability, limited supply, divisibility and uniformity. 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