As per the accrual concept of accounting, any financial or business transaction should be recorded:When transaction occursWhen profit is computedWhen balance sheet is preparedWhen cash is received or paid

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As per the accrual concept of accounting, any financial or business transaction should be recorded: When transaction occurs O When profit is computed O When balance sheet is prepared When cash is received or paid

As per the accrual concept of accounting, any financial or business transaction should be recorded: When transaction occurs O When profit is computed O When balance sheet is prepared When cash is received or paid

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter1: Accounting As A Form Of Communication

Section: Chapter Questions

Problem 1.15MCE

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As per the accrual concept of accounting, any financial or business transaction should be recorded:
When transaction occurs
When profit is computed
When balance sheet is prepared
When cash is received or paid

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