Under UK accounting rules, which accounting basis is required for most businesses

date：2026-04-06 11:46:54 author：admin browse： time View comments Add Collection

Under UK accounting rules, which accounting basis is required for most businesses

Under UK accounting rules, which accounting basis is required for most businesses?

A. Cash basis

B. Accrual basis

C. Tax basis

D. Single entry basis

Answer: B

Explanation: The accrual basis is mandatory under UK GAAP for most companies, recording income when earned and expenses when incurred, not when cash is received or paid.