Answer to Question #91359 in Accounting for Kalley bahi

Question #91359
why is it important to state the assets and liabilities at their correct accrual basis amounts at start of the accounting cycle
1
Expert's answer
2019-07-05T14:38:10-0400

Assets and liabilities should be recorded at the start of an accounting cycle in their accrual basis because although monies for a certain asset may be received within a certain accounting cycle while the transaction itself may have been from a different period. 


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS