What is Accrual (Mercantile Vs Cash System of Accounting)
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Answer Posted / nalini saharia
in cash system of accounting expense are considered expense
only when they are received same apply to income also. this
considered to be defective as this doesn't represent true
picture pf profitabilty.
in mercantile expenses are considered as expense durind
the period to which they pertain.when the expense are
received is not significant smae apply to income also.
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