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r-ruslan [8.4K]
3 years ago
12

During 2022, Skysong Corp. entered into the following transactions.

Business
1 answer:
Neko [114]3 years ago
7 0

Answer:

4,890

Explanation:

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Different accounting principles are used to capture these various types of accountability. Fiscal responsibility is achieved by means of the adjusted accrual accounting system where the revenue is recognised in the period measured and available for revenues and expenditures (not expenses) are accepted as needing to be charged out of existing financial capital.

Operational accountability in accounting rules is captured. The emphasis of accrual accounting is on the transfer of economic resources, which allows the identification of revenues and expenses when there is an exchange in economic resources.

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