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Categories >> Accounting >> Accounting AllOther


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What is the Mercantile accounting System?
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
# 1
Mercantile basis of accounting is nothing but the accrual
basis of accounting. In the accounting revenues are
recognised irrespective of when the cash is received
Is This Answer Correct ?    61 Yes 8 No
# 2
It is a system where the entries for income and expenses
are not necessarily for the current financial year but for
a continuous period of time.
Is This Answer Correct ?    2 Yes 4 No
Raghunath Singbal
# 3
It refers to that system of accounting n which expenses and
incomes are recorded as and when they does not
take into account the outstanding/prepaid expenses and
Is This Answer Correct ?    12 Yes 17 No
Harsh Dave
# 4
it is nothing but the accrual basis of accounting where
entries are made when the expenses actually incurred and
etries are made after the receipt of material,cash etc.
Is This Answer Correct ?    13 Yes 26 No

Other Accounting AllOther Interview Questions
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what are the basic 3 rules of accounting HSBC 6
Diffrence between cost, financial and management accounting   2
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what is mean by credit purchase?   5
suppose i joined a company 8th April 2012, and my ctc is 300000 pa. then which tax employer deduct tds or pf and haw much tax deduct pm, where tax exemption limit is 2lac   2
what is quick asset Capital-IQ 10
Authorised sharecapital is 20000,issued capital is 15000 shares and treasury stock is 3000 calculate the outstanding shares? FactSet 4
EXPAND_________SFIO   2
Received goods from Mani in response to the order placed with him. state whether the the following transcation is business transcation or non business transcation? with reson or explaination?   1
what is the jornal entry for repairs   3
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