No products in the cart.

Difference btw acruel basis and cash …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

Difference btw acruel basis and cash basis of accounting
  • 1 answers

Yogita Ingle 4 years, 10 months ago

Cash Basis of Accounting

Accrual Basis of Accounting

Only cash transactions are recorded in the books of accounts

All cash and non-cash transactions are recorded in the books of accounts

Correct profit or loss is not ascertained because it records only cash transactions

Correct profit or loss are ascertained because of the complete record of all the transactions

Entries are made only when cash is received or paid

Entries are made on accrual basis i.e. all transactions are recorded in the books of accounts whether incurred or earned

It is rarely used

It is widely used

It is recognised under Companies Act, 1956

It is not recognised under Companies Act, 1956

http://mycbseguide.com/examin8/

Related Questions

sum
  • 0 answers
What is n8n current assets
  • 1 answers
Which method is best
  • 0 answers
Define provision
  • 1 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Download myCBSEguide App