Interested to Buy Any Domain ? << Click Here >> for more details...
What is the defination/meaning of Mercantile Accounting?
- 11 Answers
- 101526 Views
- I also Faced
- E-Mail Answers
Answer Posted / phani
mercantile accounting is also known as accural system. It is based on the matching concept.
In mercantile system, expenses are considered to expenses, during the period to which they pertain, incomes are considered to be incomes, during the period to which they pertain.This system of accounting is considered to ideal.
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
What is Provision for expenses?
I have an S Corporation called Trend Foods Inc. I would like to make a division of that company that services computers and call that Trend Computer Service. I do not want to set up another Corporation for Trend Computer Service. Can I just make a division of Trend Foods and what paperwork do I need to fill out to make that happen? Thanks for the help, Jim
A company produces and sells 12500 units of Commodity X at Rs 50 each. The variable cost of the production is 20 % of selling price. Fixed cost being Rs 100000 per annum. Calculate the PV ratio and BEP if. The selling price is reduced by 5 %. Fixed cost is increased by 2 lacs
A company acquires new taxi fleets on 1April 2006 with intention to provide services during the World Cup period and thereafter dispose the taxis .The World Cup runs for three months to 30 June 2006.The company's year end is 30 June 2006.how do you account for taxis at initial recognition .
what is composition vat
What exactly balance sheet depicts
What is the Purpose of Preparing Bank Reconciliation Statement?
EXPAND_________TOEFEL
EXPAND_________SEAMEC
what is meant by virus
What is meant by advance ruling? What is the scheme of advance rulings?
closing stock at the end is comprised of %a purchase price of $60000,10% discount and 15% import duty.The stock can be sold for $70000 after incurring costs of $1950.Included in the purchase price is abnormal wastage of $2000.Transportation costs are $1000 and storage costs are $500,what is the value of the closing stock?
1.What are the basic accounting Standards ?? 2.What is the main importance of Bank Reconcilation Statement? 3. What is Form 407 in Vat ??
how to do finalisation account ,pls tell me step by step ?
describe the most complex challenge that you have faced and how you managed it
