Brahmayya Article Trainee Interview Questions and Answers

Depreciation is the allocation of the cost of an asset over its useful life. Journal entry records the financial transaction related to depreciation.

• Depreciation is a non-cash expense that reduces the value of an asset over time.

• It is recorded in the income statement as an expense and in the balance sheet as an accumulated depreciation.

• The journal entry for depreciation involves debiting the depreciation expense accoun...read more

Accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions. The golden rules of accounting are the basic principles that guide the recording of financial transactions.

• Accounting involves recording, classifying, and summarizing financial transactions.

• The golden rules of accounting are the basic principles that guide the r...read more

Internal audit is done by company employees while external audit is done by independent auditors.

• Internal audit is conducted by employees of the company while external audit is conducted by independent auditors.

• Internal audit is a continuous process while external audit is conducted periodically.

• Internal audit is focused on evaluating and improving the effectiveness of internal controls while external audit is focused ...read more

Dealing with challenges of the world requires resilience, adaptability, and a positive mindset.

• Stay informed and educated about current events and issues

• Develop problem-solving skills and seek out resources and support

• Maintain a positive attitude and focus on personal growth and development

• Practice self-care and prioritize mental and physical health

• Collaborate with others and build strong relationships for mutual suppo...read more