As per the accrual concept of accounting financial or business transaction is recorded ........

General Accounting Principles Concepts of Accounting

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As per the accrual concept of accounting, financial or business transaction is recorded:

when balance sheet is prepared

when profit is computed

when transaction occurs

when cash is received or paid

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Explanation:

c) when transaction occurs
It is based on the matching principle, where revenues are recorded for the period when goods and services are delivered, and expenses are recorded when goods and services are purchased (thereby matching revenues earned against expenses incurred during the same accounting period).