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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1915)
 Accounting General interview questions  Accounting General Interview Questions (2841)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4375)
Question
What is the Mercantile accounting System?
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 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 ?    63 Yes 8 No
Deepa
 
Answer
# 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 ?    3 Yes 4 No
Raghunath Singbal
 
 
 
Answer
# 3
It refers to that system of accounting n which expenses and
incomes are recorded as and when they incur.it does not
take into account the outstanding/prepaid expenses and
incomes.
 
Is This Answer Correct ?    12 Yes 18 No
Harsh Dave
 
Answer
# 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 ?    14 Yes 26 No
Shreekant
 

 
 
 
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For more Accounting AllOther Interview Questions Click Here 
 
 
 
 
 


   
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