an enterprise prepare account under the accural basis salaries amounting rupees 10000 for the month march 2020
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No, the owner is not correct because under the Accrual Concept , expense should be accounted at the time when it is incurred and not when it is paid . Salaries for March 2019 have become due on 31st March , 2019 and therefore , should be accounted in the books of account for the year ended 31st March , 2019.
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