money of account

noun phrase

Definition of 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 coin or denomination of paper money

First Known Use of money of account

1691, in the meaning defined above

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The first known use of money of account was in 1691

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Cite this Entry

“Money of account.” Dictionary, Merriam-Webster, Accessed 8 Jul. 2020.

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