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Question What is the defination/meaning of Mercantile Accounting?
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 Question Submitted By :: sandip.funde
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Answer
It is a system in which accounting entries are made on the basis of amount having become due for payment or receipt. This system recognizes the fact that if a transaction or an event occurred, its consequences cannot be avoided and therefore, should be brought into book in order to present a meaningful picture of profit earned or loss suffered.

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