Accounting WAEC

The two recognized accounting bases are?

A. cash and credit
B. personal and impersonal
C. Accrual and Cash
D. Drawings and Private

Correct Answer: Option C

C. Accrual and Cash

Explanation

Accounting bases are the totality of method adopted by enterprises for applying fundamental accounting concepts to its Financial transactions. However, the two bases are cash and Accrual basis

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