Concept:The money measurement concept records only items that can be expressed in monetary terms.Explanation:Financial statements ignore valuable non-monetary factors such as goodwill, management skill, employee loyalty, and brand reputation.These factors are not reported because they cannot be measured reliably in money.As a result, important non-monetary activities are left out of the financial statements.This omission is a major limitation of the concept.Answer:C. important non-monetary activities are not reported