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What is the difference between Cash accounting System and
Mercantile system of accounting
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Answer Posted / deepika
In cash accounting system, expenses and incomes are
recorded in the books only when they are paid or received
respectively.
Whereas in mercantile system of accounting, expenses and
incomes are recorded in the books as soon as they become
due.
| Is This Answer Correct ? | 8 Yes | 0 No |
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