Amvotech Solutions Procurement Officer Interview Questions and Answers

The process to pay cycle involves the steps taken to initiate, authorize, and complete a payment.

• The process begins with the initiation of a payment request.

• The request is then authorized by the appropriate parties.

• Once authorized, the payment is processed and completed.

• The cycle may involve multiple steps and parties depending on the payment method and system used.

• Examples include electronic fund transfers, credit car

Debit credit golden rules are principles that guide the recording of financial transactions in accounting.

• Debit the receiver, credit the giver: When an asset is received, it is debited, and when an asset is given, it is credited.

• Debit what comes in, credit what goes out: When there is an increase in assets, it is debited, and when there is a decrease in assets, it is credited.

• Debit expenses and losses, credit income an...read more