What is the defination/meaning of Mercantile Accounting?
Answer Posted / phani
mercantile accounting is also known as accural system. It is based on the matching concept.
In mercantile system, expenses are considered to expenses, during the period to which they pertain, incomes are considered to be incomes, during the period to which they pertain.This system of accounting is considered to ideal.
Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
intorduse your self ? what to say if iam fresher.
Short Answer on ________Adjusting Entries
Expand BFSI
what is mean by traditional accounting ?
What are the different payrolls? how we calculate the exmployee payroll? how we calculate the employee salaries details?
i have interview in KVB on 12-12-08. so Please send me some questions asked in previous interviews contucted by KVB?
why do we charge the depreciation
what is pre settlements and post settlements in Derivatives?
Expand SCERT
define fixed assets
Expand---------PED
what is exercise duty how to calculate that and how to update in tally
what is the accounting conventions
You placed an Order for some books but it was not delivered on time or the books were damaged, so are write Complaint Letter to the Shopkeeper about it.
what type of a/c these accounts are are tey real, nominal or personal (1)realisation a/c (2)new company a/c(3)equity share holders a/c