money of account


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Related to money of account: Unit of account

money of account

n.
A monetary unit in which accounts are kept and that may or may not correspond to actual current denominations.

money of account

n
(Economics) another name (esp US and Canadian) for unit of account

mon′ey of account′


n.
a monetary denomination used in reckoning, esp. one not issued as a coin, as the U.S. mill.
[1685–95]
References in classic literature ?
Before the Revolution, each province had its own money of account though neither coined any but copper pieces.
The earliest forms of imaginary money thus appear always linked to a real coin, but the authors show conclusively that the same money of account could shift its base from one minted coin to another; it could also bifurcate, with the new parts each linked to a different coin.