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A demat account is similar to a saving bank account with a difference that instead of money shares are held electronically in this acc ...
Latest Job Interview Questions » Accounting Interview Questions
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An ‘account’ is the most basic concept of accounting. Accounts are maintained to record information. It is a specific location whe ...
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Accounting equation is the basic equation that keeps all the accounts of the business in a balance. When a business is started, the ow ...
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A trial balance is an accounting worksheet in which the balances from all ledgers maintained in the business are compiled under the he ...
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A trial balance only enters the totals of credits against the total of debits. The fact that a trial balance tallies is only a basic a ...
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Also known as ‘profit and loss statement’, ‘statement of revenue and expenses’ it is one of the three major financial statemen ...
Define cash and accrual methods of accounting, what are the advantages/disadvantages of each method?
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There are two methods of accounting - Cash Based Accounting and Accrual Method of Accounting. The main difference between the two meth ...
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The term GAAP – Generally Accepted Accounting Principles refers to the common principles, standards that companies resort to for com ...
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