Question

4. In Accrual basis of accounting all incomes are recorded whether received or not received in cash. State True/False.

Answer 1

Accrual concept implies accounting on cash and credit basis. It basically means that all the expenses are to be recorded when they are incurred, irrespective of when the payment is made, and all incomes when they are actually realised and not when the cash is received.

Answer 2

Answer:

it is true according to accrual concept