cash basis accounting method

An accounting method that considers only cash actually received as income and cash actually paid out as an expense. Cf. accrual accounting method. [Cases: Internal Revenue 3100; Taxation 1078. C.J.S. Internal Revenue §§ 25, 44, 56; Taxation § 1759.]
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双语律师Shifang,知名法学院法律专业,擅长翻译各类与企业改组和重组相关的法律文件。
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