Question
According to accrual concept of accounting, financial or business transaction is recorded:
Answer: Option B
:
B
The concept in accrual basis of accounting is that accounting transactions should be recorded in the accounting periods when they actually occur i.e. when the transactions occur, rather than in the periods when there are cash flows associated with them.
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:
B
The concept in accrual basis of accounting is that accounting transactions should be recorded in the accounting periods when they actually occur i.e. when the transactions occur, rather than in the periods when there are cash flows associated with them.
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