Answer Posted / krishnachaitanyanellore

According to Accrual/Mercantile concept of accounting, the
incomes/expenses are treated as incomes/expenses during the
period they belong to irrespective of whether they are
realized or not.

According to the matching concept, the incomes generated
during a period should be equal to the expenses incurred in
the same period.

Both of them are not exactly same but are nearly same.

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Expand--------OTA

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Dear all, Could you suggest me that if got a job in a/cs in Big org but on payroll of Outsourcing company,What should to prefer the company payroll or job the ?

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Expand ________FIPB

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Received cheque Rs 250000 which is exclusive of 5% Security deposit 2.24% income tax and i% miscellaneous recovery. Pass necessary entry

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