Question on: JAMB Accounting - 2019
The two recognised accounting bases are
A
cash and credit
B
personal and impersonal
C
Accrual and Cash
D
Drawings and Private
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Correct Option: C
Accounting bases are the possible ways in which accounting concepts may be applied to financial transactions, e.g. the methods used to depreciate assets, how intangible assets or work in progress are dealt with.
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