Answer / krishnachaitanyanellore

According to Accrual/Mercantile concept of accounting, the
incomes/expenses are treated as incomes/expenses during the
period they belong to irrespective of whether they are
realized or not.

According to the matching concept, the incomes generated
during a period should be equal to the expenses incurred in
the same period.

Both of them are not exactly same but are nearly same.

Answer / vikram l

Accrual concept of accounting is one that is exactly
contradictory to the cash basis of accounting.In accrual
system or method of accounting all the expenses and incomes
are booked as and when they falls due or is earned
respectively.

Answer / keith

the income generated should be matched with the cost of
producing the sold items,that is as a good is sold it must
be be removed from stock

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