Abhinandan Autozone Accounts Executive, Accounts Officer Interview Questions and Answers

The journal entry in the vendor account for returning goods is a credit entry to the vendor's account and a debit entry to the purchase return account.

• The journal entry will decrease the vendor's account balance and increase the purchase return account balance.

• The credit entry to the vendor's account represents the reduction in accounts payable.

• The debit entry to the purchase return account represents the increase in t...read more

Depreciation is the decrease in value of an asset over time due to wear and tear, obsolescence or other factors.

• Depreciation is a non-cash expense that reduces the value of an asset on the balance sheet.

• It is calculated based on the useful life of the asset and the method of depreciation chosen.

• Examples of assets that can be depreciated include buildings, vehicles, machinery, and equipment.

• Depreciation can be straight-...read more

Accounts payable is the amount of money a company owes to its vendors or suppliers for goods or services received but not yet paid for.

• Accounts payable is a liability account in the company's balance sheet.

• It represents the amount owed to vendors or suppliers for goods or services received.

• Accounts payable is recorded when the company receives an invoice from the vendor or supplier.

• The payment is usually due within a s...read more

My final year project was on developing a web-based inventory management system using Java and MySQL.

• Developed using Java and MySQL

• Web-based inventory management system

• Implemented basic OOPs concepts

• Used MVC architecture for better code organization

• Included features like user authentication, product management, and order tracking