Mercantile & cash accountig system
This query is : Resolved
26 May 2009
In cash accounting system accounting is done on actual basis and vice versa in mercantile system?
But what does accounting on actual basisi means and explain mercantile system also?
But what does accounting on actual basisi means and explain mercantile system also?
27 May 2009
Accounting on actual basis means as and when cash is received or paid, whereas in mercatile system accounting is done as and when the expenditure or receipt is due.
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