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British Dictionary definitions for unit of account

unit of account

noun
  1. economics the function of money that enables the user to keep accounts, value transactions, etc
  2. Also called (esp US and Canadian): money of account a monetary denomination used for accounting purposes, etc, but not necessarily corresponding to any real currencythe ECU is the unit of account of the European Monetary Fund
  3. the unit of currency of a country
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

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