Explain the accrual Basis of accounting

1.	Explain the accrual Basis of accounting
Answer» Answer: Accrual accounting is an accounting METHOD where revenue or expenses are recorded when a transaction occurs rather than when payment is received or MADE. The method follows the MATCHING principle, which says that REVENUES and expenses should be recognized in the same period.

Answer»

Answer:

Accrual accounting is an accounting METHOD where revenue or expenses are recorded when a transaction occurs rather than when payment is received or MADE. The method follows the MATCHING principle, which says that REVENUES and expenses should be recognized in the same period.

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Tois question based GISTBasie Prodquet? Gust Sales SupplyАB 2200150800118.00 to 20018.001 300 Intre statoI istrustile12.00 lo1120 Istrestaleb.Tabb Trade Details (sales and purchaseJitems opening stat I purchased sold closingo0104803oa) find out belowgiveoQuestionsCGST ,SGST , LGST final balance?1. use different lable for saleand purchas drade.Neft profit from the trade?closing stock valuations ?

Explain the accrual Basis of accounting ​

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Explain the accrual Basis of accounting