Money of account


Money of account

The money of account is the monetary unit in which accounts are kept, which is not necessarily linked to actual currency. [cite web| url=http://www.bartleby.com/61/50/M0385000.html| title=Bartleby| date=January 1 2000| accessdate=2007-03-09| publisher=American Heritage Dictionary]

Use in Old French Currency

When French kings minted coins, the value would be denominated in terms of money of account. Therefore, the actual value of the coin would fluctuate over time due to outside factors, such as inflation. Therefore, the specific value of a coin was never set. That is to say, a dime would never be worth exactly ten cents, but would oscillate around ten cents. [cite web| url=http://www.lepg.org/money.htm| title=Money| date=January 1 2004| accessdate=2007-03-09| publisher=Le Poulet Gauche]

ee also

*Money of exchange
*Money

References


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Look at other dictionaries:

  • Money of account — Money Mon ey, n.; pl. {Moneys}. [OE. moneie, OF. moneie, F. monnaie, fr. L. moneta. See {Mint} place where coin is made, {Mind}, and cf. {Moidore}, {Monetary}.] 1. A piece of metal, as gold, silver, copper, etc., coined, or stamped, and issued by …   The Collaborative International Dictionary of English

  • money of account — ˌmoney of acˈcount noun [countable usually singular] FINANCE the currency used in business and finance in a particular place: • Since 1999, the Euro has been the money of account in most EU countries. * * * money of account UK US noun [C, usually …   Financial and business terms

  • money of account — n. a monetary denomination used in keeping accounts, esp. one not issued as a coin or piece of paper money (e.g., the U.S. mill) …   English World dictionary

  • Money market account — This article is about the type of bank deposit account. For the type of mutual fund, see Money market fund. Banking …   Wikipedia

  • Money Market Account — A savings account that offers the competitive rate of interest (real rate) in exchange for larger than normal deposits. Also known by the acronym MMDA , which stands for money market demand account or money market deposit account . Many money… …   Investment dictionary

  • money of account — denominations of money used in reckoning but not current as coins. → account …   English new terms dictionary

  • money of account — mon′ey of account′ n. bus num a monetary denomination used in reckoning, esp. one not issued as a coin, as the U.S. mill • Etymology: 1685–95 …   From formal English to slang

  • money of account — Date: 1691 a denominator of value or basis of exchange which is used in keeping accounts and for which there may or may not be an equivalent coin or denomination of paper money …   New Collegiate Dictionary

  • money of account — a denominator of value or basis of exchange which is used in keeping accounts and for which there may or may not be an equivalent in coin or paper money …   Useful english dictionary

  • money of account — a monetary denomination used in reckoning, esp. one not issued as a coin, as the U.S. mill. [1685 95] * * * …   Universalium


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