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11. The fundamental accounting concept that transactions are accounted for when they occur and not when cash is paid or recei

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B. Accrual

Accrual concept : as per this accounting concept transaction are accounted for when they occur. For an example in business , if any income or revenue which is earned but not received in cash and also any transaction related to expenses are recorded when they incurred but not when they paid. So that accrual concept is the fundamentals Accounting concept and which is based on transaction are accounted for when they occur but not when it's received or paid.

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