unit of account
Britishnoun
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economics the function of money that enables the user to keep accounts, value transactions, etc
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Also called (esp US and Canadian): money of account. a monetary denomination used for accounting purposes, etc, but not necessarily corresponding to any real currency
the ECU is the unit of account of the European Monetary Fund
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the unit of currency of a country
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
Money is a store of value, a means of exchange, and a unit of account.
From Barron's • May 27, 2026
The dollar is supposed to act as a unit of account and a store of value.
From Washington Post • Jul. 15, 2022
Euro banknotes and coins were only introduced on Jan. 1, 2002, with the currency only existing before that day as a unit of account for settling cross-border transactions.
From Reuters • Jul. 13, 2022
A currency, as economists understand it, must fulfill three functions: It must be a relatively stable store of value, a commonly understood unit of account, and a widely accepted medium of exchange.
From Slate • May 18, 2022
I proposed, therefore, instead of this, to adopt the Dollar as our unit of account and payment, and that its divisions and subdivisions should be in the decimal ratio.
From Memoir, Correspondence, And Miscellanies, From The Papers Of Thomas Jefferson, Volume 1 by Randolph, Thomas Jefferson
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
