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What is the defination/meaning of Mercantile Accounting?

Question Posted / sandip.funde

Answers were Sorted based on User's Feedback



What is the defination/meaning of Mercantile Accounting?..

Answer / vivek sapra

Mercantile System of Accounting is also Known as Accrual
System of Accounting where all the transactions are
recorded irrespective of period of Amount recived or paid.

In-other words it is a system of Accounting where amount
paid or payable is recorded. Presently every company is
following this.

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