Question

explains accrual concept???​

Answer 1

Answer:

Accrual concept is the most fundamental principle of accounting which requires recording revenues when they are earned and not when they are received in cash, and recording expenses when they are incurred and not when they are paid.

Answer 2

$\Huge{\textbf{\textsf{\color{navy}{An}{\purple{sW}{\pink{eR}{\color{pink}{:-}}}}}}}$

Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction occurs rather than when payment is received or made. The method follows the matching principle, which says that revenues and expenses should be recognized in the same period.