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Mercantile system

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(Querist)
03 February 2011 What is Mercantile system.
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shakuntala chhangani

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shakuntala chhangani (Expert)
07 February 2011 Under mercantile system, expenses are recorded in the books when incurred and income is recorded when it is earned irrespective whether paid/received or not.
Regards, CA Shakuntala Chhangani

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