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  5. The two recognised a...

The two recognised accounting bases are

Accounts - Principles of Accounts
JAMB 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 Answer: Option C
Explanation

Accounting bases are the totality of method adopted by an enterprises for applying fundamental accounting concepts to its Financial transactions. However, the two bases are cash and Accrual basis

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