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accrual basis
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noun
a method of recording income and expenses in which each item is reported as earned or incurred without regard to when actual payments are received or made.
QUIZ
THINGAMABOB OR THINGUMMY: CAN YOU DISTINGUISH BETWEEN THE US AND UK TERMS IN THIS QUIZ?
Do you know the difference between everyday US and UK terminology? Test yourself with this quiz on words that differ across the Atlantic.
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In the UK, COTTON CANDY is more commonly known as…
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Origin of accrual basis
First recorded in 1930–35
Words nearby accrual basis
accretive, Accrington, accroach, accroides gum, accrual, accrual basis, accrue, accrued, accrued dividend, accrued expense, accrued income
Dictionary.com Unabridged
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023