Question

What accounting method is followed for the recording of transactions?


Single entry system
Cash Basis System
Double Entry system
None of the above

Answer 1

option (b) is correct cash basis system

Answer 2

$hello \: mate$

Question : What accounting method is followed for the recording of transactions?

• Single entry system
• Cash Basis System
• Double Entry system
• None of the above

Answer : Cash Basis System

Step by step explanation :

Accrual accounting is a method of accounting where revenues and expenses are recorded when they are earned, regardless of when the money is actually received or paid. For example, you would record revenue when a project is complete, rather than when you get paid. This method is more commonly used than the cash method.

I hope my answer helps you.