What is the Mercantile accounting System?

Answer Posted / shreekant

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 ?    15 Yes 27 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

bill to addres? ship to addres? rimit to address?

4549


EXPAND_________SCM

1796


diffrence between the profit center and business area

1663


How Many Types of Excise Duties?

1535


Who will be called as consignee

1619






Expand-------ATBN

1707


explain the difference between LIFO and FIFO?

731


What is compensation theorem?

2504


What will your outlook towards maintenance of liquid assets to ensure that the firm has adequate cash in hand to meet its obligations at all times

2075


Examples of automatic generated content material of car logbook loans?

1337


Office cash was stolen? state whether the following transcation is business transcation or non business transcation?

1492


1) why rbi charges more interest rate in d form of repo while borrowing from commercial banks, and lends at a lower interest rate(reverse repo) to d commercial banks? 2) Do cooperative banks need to maintain policy rates with rbi? 3) why rbi does'nt pay any interest rate on CRR?

1613


WHEN IN ADJUST. GIVEN THAT THERE IS VALUE OF RS...., OBSOLESCENCE STOCK INCLUDED IN CLOSING STOCK RS.......,WHAT IS THE PROPER WAY TO SHOW IN INCOME STATEMENT AND POSITION STATEMENT.

1703


How can a Society be converted to a Private Limited Company in the Real Estate Industry and at the same time have the least tax liability upon it's profits earned during the financial year closing

1780


Short Answer on _________Commerce

1414