cash system of accounting is a system in which accounting entries are made only when cash is received or paid. No entry is made when a payment or receipt is merely due. For example, the rent for December 2009 has not been paid till January 10th 2010. Under cash basis, rent expense for the month of December will not be recorded as payment has not been made. Government system of accounting is mostly on the cash system.
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mercantile/accrual system of accounting means system in which accounting entries are made on the basis of amount having become due for payment or receipt. This system recognizes the fact that if a transaction or an event occurred, its consequences cannot be avoided and therefore, should be brought into book in order to present a meaningful picture of profit earned or loss suffered.
i don't now [Jabirshah] The system for recognizing revenues influenced with payment and receipt of cash is called "Cash base accounting system".
Accountancy is creatiing figures - auditing is checking them
The importance of Petty Cash Book Imprest System is that it helps in basic bookkeeping. The daily transactions that use the petty cash are entered into this system which ensures that there is proper issuance of petty cash.
The imprest fund system is a system of control of cash which requires that all cash receipts should be deposited intact and all cash disbursements should be made by means of check.This is the one usually followed in handling petty cash transactions.
Explain how the lockbox system can improve the efficiency of cash management.
mercantile
The impact of the Mercantile system in the Netherlands was creation of monopolies.
How did the British mercantile system work?
In terms of Accountancy, Yes it is
The mercantile system was a system in which a country's main goal was to procure as much money as possible and often exploit her colonies to achieve this end.
The French economist most associated with the mercantile economic system was Colbert.
The Mercantile System used American colonies to supply England's needs for resources.
The mercantile system was still strongA+
all correct
mercantile system
the system of mercantilism was an extension of the policy of salutary neglect...
Under the mercantile system, the colonies were required to develop trade with other nations, produce manufactured goods, and supply raw materials.