Accrual concept implies (a) Showing only such income and expense which have been paid in cash. (b)
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Accrual concept implies
(a) Showing only such income and expense which have been paid in cash.
(b) Showing all the income and expenses that relate to the current accounting year, whether dealt in cash or not.
(c) All the fixed assets are shown at the historical cost, whereas the current assets are shown at the market price.
(d) None of these.
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