Question

which of the following is not the basis of accounting ? (a)cash basis.(b)Accrual basis.(c) hybrid basis.(d) payment basis.​

Answer 1

The payment basis is not the basis of accounting.

Option (d) is correct.

Explanation:

• There are four different types of accounting methods or the basis of accounting.
• These are cash basis, accrual basis, mixed basis, and hybrid basis.

• The main difference between cash and accural basis is the transaction method

• In a cash basis, the data of revenue is recorded on the receipt of the cash. It does not recognize payable or receivable accounts.
• While on an accrual basis, the time and transaction data are kept in record.