Question

Cash basis of accounting is not based on:
(a) Principle of Matching Concept
(b) Companies Act, 2013
(c) Scientific System of Accounting
(d) All of these​

Answer 1

Answer:

Cash basis accounting is an accounting system that recognizes revenues and expenses only when cash is exchanged. Businesses account for their income and expenses when they actually receive payment or when they actually pay for an expense. The cash basis accounting system does not consider income from credit accounts.

Answer 2

Answer:

I think option c is correct.

I hope this will be help you.