what is the difference between cash system & mercantile
system



what is the difference between cash system & mercantile system..

Answer / avinash.avala

If cash is received then recorded in the books irrespective
of period - In case of cash system.

If the transaction is related to the period irrespective of
cash received or not then it is recorded in the books - In
case of mercantile system

Is This Answer Correct ?    22 Yes 6 No

Post New Answer

More Accounting AllOther Interview Questions

Please define Transaction Type , Movement Type , Asset Transaction Type , Item Type & Document type. Please also give examples of each of them

0 Answers   Golden Sands, manappuram,


what are athe accounting principles?

4 Answers  


If grant is receivable by head office, but it is directly received by branch then what entries should be passed in branch and head office in tally

2 Answers  


What is the journal entry for reverse the late payment of loan from the bank A.

1 Answers   Bahani Tea, Ocwen,


what is debit/credit note ? what deffered income and expencess?

0 Answers   Intelenet,






What exactly balance sheet depicts

0 Answers   Telco,


fridge was capital or revenue?

0 Answers   Grand Bay,


What is mean by Tab Group in MS-Excel?

0 Answers   IBM,


what is amortization or what is the use of amortization?

2 Answers  


what is reumbursment.

2 Answers  


What is Mortgage Payment?

1 Answers  


Can anybody send me Interview questions & Answers to me IN Accounts & finance my Mail ID - razvinotes@yahoo.com

1 Answers  


Categories