Interested to Buy Any Domain ? << Click Here >> for more details...
Diiference between Cash & Mercantile System
- 4 Answers
- 8160 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / chandu
yes sir, the mail difference b/w cash and mercantile system
in cash system only cash transactions are recorded in the book books of accounts where as in mercantile system we prefer credit transactions.
mercantile follow the companies who have financialy soundness follows this method.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / aman vohra
Cash system of accounting refers to the accounting of transactions at the time of actual flow of cash/ funds. Whereas in Mercantile system popularly known as Accrual system , the transaction is recorded when it is accrued irrespective of the time of payment.
Mercantile system is widely used and is the only method of accounting allowed under International Financial Reporting Standards. Cash system, is mainly used by the NGO's and the Government organizations, not meant generally for making profits.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sowmya
cash system-payment/reciept basis
accrual system-due basis
| Is This Answer Correct ? | 0 Yes | 1 No |
What is capital expenditure?
Short Answer on _____________Revenue Budget
what do you mean by accounting (or) why accounting ? ( generally we have to speak about our achivements and goals)
What is back value adjustment/correction in Nostro Reconciliations?
What is letter of credit?
2 Answers State Bank Of India SBI,
Expand-------MUR
What is Demat Account? what is the use of it?
what is assessment
What is the full form of Dr. and Cr. ?
48 Answers DRO, Emcure, Syntel,
capital reserve and revenue reserve
in which head ESI A/c will be come?
EXPAND_________TOEFEL
Audit 
