What is Accrual (Mercantile Vs Cash System of Accounting)
- 8 Answers
- 25711 Views
- Genpact, I also Faced
- E-Mail Answers
Answer Posted / samir sharma
A cash system of accounting is a system of accounting in
which all transactions are recorded only when actual cash
is received or paid. On the other hand in Mercantile system
of accounting the transactions are recorded on due basis
ie. when a transaction arises.
Eg. when sale is made on credit, in cash system of
accounting no transactions will be recorded however under
mercantile system of accounting the transactions will be
recorded.
| Is This Answer Correct ? | 49 Yes | 3 No |
Post New Answer View All Answers
How you implemented a chargeback system?
Expand ----------GIDB
what are the type of cash flows?
Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
If DEBT/EQUITY ratio 2:1, is to good or bad for a company? how...??? can u explain it...???
WHAT IS GENERAL LEDGER HOW MANY TYPES OF IT, AND WHEN GL WILL USE IN WHICH SITUATIONS DESCRIBE ME
what are the payroll procedures?
Explain valuation methods of Normal and Abnormal loss
Can u please give me example of bonds? is National savings certificate a Bond?
Can v transfer trail balance to journal entry how and with example?
CAN ANY OF U TELL ME WHAT QUESTION ACTUALLY ASK IN OPERATION ROUND IN BA CONUTNNIUM SOLUTION
who invented acounts?
what is finance what is bpo why do u want join a BPO types of process in BPO Company's
What is the procedure to become charted accountant in India now. Please answer this is urgent
Depreciation method to using Indian company names
