1. Categories >> Accounting >> Accounting AllOther
  2. Suggest New Category

company prepares accounts sometimes on cash basis ,
sometimes on accural basis
A)TRUE B)FALSE C)SOMETIMES TRUE D)SOMETIMES FALSE

Question Posted / bhargavisvl

Answers were Sorted based on User's Feedback



company prepares accounts sometimes on cash basis , sometimes on accural basis A)TRUE B)FALSE C)S..

Answer / y.suresh babu

False

Is This Answer Correct ?    10 Yes 0 No

company prepares accounts sometimes on cash basis , sometimes on accural basis A)TRUE B)FALSE C)S..

Answer / raju

False

It is not Accural Basis, It is Accrual Basis

Is This Answer Correct ?    5 Yes 1 No

company prepares accounts sometimes on cash basis , sometimes on accural basis A)TRUE B)FALSE C)S..

Answer / sudha

as per basic accounting concepts, it is compulsory for the
companies to follow accrual system of accounting, hence it
has to follow accrual system at any point of time

Is This Answer Correct ?    4 Yes 0 No

company prepares accounts sometimes on cash basis , sometimes on accural basis A)TRUE B)FALSE C)S..

Answer / guest

sorry it is not accural it is ACCRUAL

Is This Answer Correct ?    4 Yes 3 No

company prepares accounts sometimes on cash basis , sometimes on accural basis A)TRUE B)FALSE C)S..

Answer / pari

As per the accounting guidleines, a company has to follow
one of the two basis year after year. It could be accrual
Or on actual/Cash basis. Whichever method they choose, they
need to follow it year after another.

It though has an option to change his method/procedure.But
then in such a scenario, the company has to provide the
reasoning and the audit team should also agree to the
reasonning. Then only, such a change is acceptable.

The basis for this is simple, if a company every year
changes the procedure/method its stakeholders can get mis-
guided and will not be able to follow the company position.

To have the buying of its stakeholders, company has to be
very careful and correct in its reportings.

Is This Answer Correct ?    1 Yes 0 No

company prepares accounts sometimes on cash basis , sometimes on accural basis A)TRUE B)FALSE C)S..

Answer / shiva_13v@yahoo.c...

Thaxs u all,

The answer is B

since they given options, we should apt one in the list.

i hope this will be a correct answer because we can find
the difrence b/w accural and accrual.

Is This Answer Correct ?    0 Yes 0 No

company prepares accounts sometimes on cash basis , sometimes on accural basis A)TRUE B)FALSE C)S..

Answer / mg

It depends on the company, if the company is mom and pop
(small business)company then it can be on a cash basis.

Is This Answer Correct ?    0 Yes 0 No

company prepares accounts sometimes on cash basis , sometimes on accural basis A)TRUE B)FALSE C)S..

Answer / svl

please who ever answer the question plz give explanation too

Is This Answer Correct ?    0 Yes 1 No

company prepares accounts sometimes on cash basis , sometimes on accural basis A)TRUE B)FALSE C)S..

Answer / hashim bim ali

99% of companies prepare their accounts on the basis of
accrual.

Is This Answer Correct ?    1 Yes 2 No

company prepares accounts sometimes on cash basis , sometimes on accural basis A)TRUE B)FALSE C)S..

Answer / hunny khanna

Under, GATT you have to prepare accounts under accrual
basis but under indian scenerio there is no fixed criteria.

Is This Answer Correct ?    0 Yes 3 No

Post New Answer

More Accounting AllOther Interview Questions

company's total overhead expense is containing which are the expenses? Definition of overhead expense.

0 Answers  

income from depreciated asset is profit or loss?

0 Answers  

"since the calculation of depreciation is based on estimate,notfacts,why bother to make the calculation?

4 Answers  

Expand-------CRDN

1 Answers  

what is accountig methods?

9 Answers   Genpact,




credit card entry in tally

0 Answers  

What is back value adjustment/correction in Nostro Reconciliations?

0 Answers   CitiGroup,

what is the difference between hirepurchase and lease?

1 Answers  

What type of questions in accouting point of respect they ask genrally plz help me find out this.

0 Answers   Banking,

where do you get Capital Expenditures?

4 Answers  

what is difference between private firm and partnership firm?

1 Answers   Allianz, Don Bosco,

expand N R I

6 Answers  

For more Accounting AllOther Interview Questions Click Here
Categories