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Why are expenses items typically accrued at period end, and why
are inventory items always accrued on receipt?
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Answer / nimesh shah
Inventory items are always accrued at receipt to show the
correct value of inventory or Stock of the business at any
point of time during the period.
| Is This Answer Correct ? | 5 Yes | 2 No |
As per Matching Concept all costs which are applicable to
the revenue of the period should be charged against that
revenue in order to determine net income of the business.
Inventory items are always accrued at receipt bcos you
cannot book liability without receiving the asset.
| Is This Answer Correct ? | 5 Yes | 3 No |
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