Question

one of the shareholders of company has invested his saving in some shares of another company ..which accounting concept is followed?

Answer 1

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Answer 2

Answer:

Accrual Concept is Followed

Explanation:

Accrual accounting is a Accounting method which allows a company to record revenue before receiving payment for goods or services sold or expenses are recorded as incurred before the company has paid for them.

If we are explaining in other words, the revenue which is earned is recognized on the company's accounting books regardless of when cash transactions have occurred.
Accrual accounting has two accounting methods; the other is cash accounting. In Cash accounting we only record the revenue when the cash transaction has occurred for the goods and services.

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