Question

How many method of recording accounting information are there?​

Answer 1

Answer:

The are three accounting methods:

Cash Basis.

Accrual Basis.

Hybrid Method.

Answer 2

Officially, there are two types of accounting methods, which dictate how the company's transactions are recorded in the company's financial books: cash-basis accounting and accrual accounting. The key difference between the two types is how the company records cash coming into and going out of the business.

There are two main accounting methods used for record-keeping: the cash basis and the accrual basis.

Cash basis and accrual basis accounting are the two most popular accounting methods for small business, and in general, you have to use one of these for tax filing purposes.