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100% true.
True in Accrual Accounting System.
Yes, the expenses should be recorded as and when incurred that is on accrual basis; the IFRS require any entity to record expenses based on accrual system.
True. Expenses have to be accounted as and when they are incurred under accrual system of accounting unlike cash system where they are accounted when paid.
True accrual accounts has greatly increased the amount of information on accounting statements. Before using accural only cash transactions are recorded in statements.
Answer is TRUE.
True in accrual system of accounting.
True because when an expence will be acurd we will be record it and than will be called accural expence
Yes, True.. The expenses as well as Incomes should be included regardless of the time they are paid or recieved, except that the income should be earned. This is based on the Accrual system of accounting... Thx.
According to accrual based accounting principle, a transaction should be recorded as soon as it has taken place irrespective of time of exchange of cash
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