Bangalore, Gopinath VadirajaRao - EconWPA - 2005
Wealth is defined as one that has 'Value in Exchange' and 'Value in use'. Accountants, in financial statements show … items like goodwill, loss and depreciation that may/maynot have 'Value in exchange'. Who is right? Mathematics has an answer … wealth, why is it expressed in units of wealth? What is the unit of non-wealth? Therefore, the words 'Value in Exchange' have …