What is the Mercantile accounting System?

Answer Posted / shreekant

it is nothing but the accrual basis of accounting where
entries are made when the expenses actually incurred and
etries are made after the receipt of material,cash etc.

Is This Answer Correct ?    15 Yes 27 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what are the certificates needed at the time of SBI clerical interview?

1578


Explain about Fixed capital

1588


Distinguish capital and revenue expenditure

1615


where we use the convetion of conservatisam in real life??

1575


how Mis reports are used?n why it is used ? explain

1532






Hi friends ineed finacial analyst interview question Pls share it

1527


How you implemented a chargeback system?

1798


What is Profir/Earning Before Tax and Profit after tax any one explaint this Clearly.

1843


Iam selected for final round of interview in IDBI bank for asst. manager post. Can any one help me in knowing what kind of questions will be asked in the interview and how should i prepair?

1589


What is the New GL concept? how do you configure new GL a/c?

1574


Since minority interest is balance sheet item, and got brought foward figure, how to disclose brought forward figure in consolidation work sheet instead of we make adjustment on current year to show their share in subsidiary.

1546


what is non stock?

2219


What is meant by consignment

1683


Transfer nett profit of Rs 325000/- to Reserves and Surplus

1964


Expand----------CMST

1659