Question

Differentiate between Accrual and Cash transaction.
[1]
basis of Accounting on the basis of nature of transactions

Answer 1

Answer:

The difference between cash and accrual accounting lies in the timing of when sales and purchases are recorded in your accounts. Cash accounting recognizes revenue and expenses only when money changes hands, but accrual accounting recognizes revenue when it's earned, and expenses when they're billed (but not paid).

Answer 2

Answer:

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