money of account definition

  • noun:
    • A monetary product which reports are held and therefore may or may not correspond to real present denominations.
    • A denomination of worth used in keeping accounts, for which there may, or may well not, be an equivalent coin.
    • a denomination of value utilized in keeping records, for which there may, or might not, be an equivalent money; e. g., the mill is a money of account in the United States, although not a coin.

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