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What is accrual? Give example for the same?
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Answer Posted / seenu
Accrual basis means due but not received are paid.
For example:
If some companies will deposit an amount in bank for one or
more than one years. Then interest will be paid when the
deposit matured. But end of the financial year the interest
income will be provided as interest accrued between deposit
date and end of the financial year end.
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