when we say we recognize income when it is accrued. here does it mean when we have got the right to recieve income.. so in nutshell can we conclude accrue= right to recieve has vested with me
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There may be accrued expenses so we cannot say that if accrued means right to receive.
I think this will help.
Accrued income represents future benefit to co.
It is money which is earned but yet to be received