CONCEPT IN ADJUSTMENT
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Haslina Kamaruddin
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24 Slides • 12 Questions
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ADJUSTMENT AT THE END OF ACCOUNTING PERIOD
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CASH BASIS
Cash basis refers to a major accounting method that recognizes revenues and expenses at the time cash is received or paid out.
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ACCRUAL BASIS
Accrual basis is a method of recording accounting transactions for revenue when earned and expenses when incurred
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Multiple Choice
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Multiple Choice
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REVENUE
Acquisition of business through the sale of goods or services
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EXPENSES
cost that has expired or been taken up by activities that help generate revenue.
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Multiple Choice
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Multiple Choice
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Multiple Choice
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Poll
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CAPITAL EXPENDITURE
funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment
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REVENUE EXPENDITURE
Cost that will be an expense in the accounting period when the expenditure takes place.
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Multiple Choice
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Multiple Choice
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Multiple Choice
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Multiple Choice
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Multiple Choice
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Multiple Choice
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ADJUSTMENT AT THE END OF ACCOUNTING PERIOD
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