NATURAL LAWS OF ACCOUNTING
- For every debit there is a corresponding credit.
- The three basic economic items are
- Inflation only erodes the real value of (and deflation only creates real value in) money and other monetary items.
- Money is never (assumed to be) perfectly stable during inflation and deflation.
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Copyright (c) 2005-2012 Nicolaas J Smith. All rights reserved. No reproduction without permission.