Natalya is confused about the difference between cash-basis and accrual-basis accounting. so you tell

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Question:

Natalya is confused about the difference between cash-basis and accrual-basis accounting. so you tell her that the

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Natalya is confused about the difference between cash-basis and accrual-basis accounting. So you tell her that the point of recognition of revenue and expenses is different. Revenue recognition is a part of the accumulation accounting concept that controls when incomes are recognized in the accounting period. It aims to bout revenues and expenses in the precise accounting period.

Basis and basic​ are two different words.

In English, Basis is used as a noun while basic is used as an adjective. Basis term refers as the base or starting point of any discussion.

For example: Bread is a basic ingredient of cake.

                      On the basis of Mendel's hypothesis.

In chemistry, Basis set is used as a set of functions that represent the electronic wave function in the density-functional theory which forms an  algebraic equations that can be easily implemented on a computer.

While Basic term is used for substances that can accept a hydrogen ion (H+) from another substance and have pH above 7. such as sodium.

So, It is not important that both the terms, basis and basic change their English meaning if used in chemistry, they both can be used with English meaning in chemistry as well. Bases and basic,​ both the terms can be used as either English or Chemistry without affecting the meaning.

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