different between income accrued and income receivables
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Answer / shiva
accrued income means income earned by the company but not
received. It may or may not come.
for example:Company claimed on an asset which is under the
control of court. If company won the the case,then they
will get that asset.
Income receivables means short term receivables that
company yet to receive from the debtors.
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Answer / nitin mulik
The concept Accrual of income is used for income earned but
same is not received till now.This concept is used for
example interest, rent, salary etc
The concept of Income receivable is used for the
Debtors.i.e. amount is receivable from customers
thats it..........
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / vaishali_gavande
INCOME ACCRUED- INCOME RECEIVED BUT NOT CLEARED
INCOME RECEIVABLE- INCOME WHICH IS EXPECTED
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