31. Plato was the first to advocate the credit theory of money, that is, money as a unit of account for debt. 32. As of early 1987, Comecon lacked not only a flexible means of payment but also a meaningful, standard unit of account . 33. It was also the name of a unit of account in northern Germany and of a silver coin issued by Prussia. 34. For Graeber, when money first appeared its primary purpose was to act as a " unit of account ", to denominate debt. 35. Minted in Norway by the Olaf Haakonsson ( 1380-1387 ), who remained as a unit of account in the kingdom until 1513. 36. Until 1821, the Gulden was a unit of account , worth of a Conventionsthaler, used to denominate banknotes but not issued as a coin. 37. King Offa of Mercia is credited with causing the widespread adoption of the silver penny and the pound as a unit of account . 38. In modern economies, money in the form of currency usually serves the role of the unit of account ( unit of measurement ). 39. That is, unit of account refers to the object of recognition or display whereas unit of measure refers to the tool for measuring it. 40. These factors did not affect Jamaica, Bermuda, or the Bahamas which adopted the sterling currency in both coinage and as the unit of account .
