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what is the meaning of Accrual Concept?
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Answer Posted / ankesh gupta
Accrual concept is related to income. it means due but not
received.for eg.i rented my house to tenant @rs 1000 per
month. tenant start living in house from 1 april,09 and
didnot pay any amount till june,09.then 3 months rent
amounting to rs 3000 will be shown in balance sheet on
june, 09. and same is shown in p&l account on credit side.
| Is This Answer Correct ? | 13 Yes | 2 No |
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