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what is MERCANTILE Accounting system?
how many accounting systems are followed in India
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Answer / chandu
mercantile system is one of the system of accounting,
according to mercantile system we prefers credit transactions we are recorded in the books of accounts.
three accounting systems followed by indian accounting
1 cash system
2 mercantile system
3 mixed system.
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / venkatesh
Mercantile System of Accounting is also Known as Accrual
System of Accounting where all the transactions are
recorded irrespective of period of Amount recived or paid.
In-other words it is a system of Accounting where amount
paid or payable is recorded. Presently every company is
following this.
| Is This Answer Correct ? | 0 Yes | 0 No |
can i have practical examples of AS-30
Calculate the current assets from the following information A>credit sales Rs.2,00,000 B>G.P.ratio 20% c>stock turnover 5 times. D>Current liabilities Rs.60,000 E>Quick ratio 0.75 Stock at the end Rs.5000 was more than the stock in the beginning.
Answered but misspelled pl correct ARE THE BUSINESS PERFORMANCE OF TRADING ACTIVITIES (ANS.SSTTANRACION)
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