Central Government Defence Account Dept Accountant Interview Questions and Answers

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Q1. What is trial balance?
Ans. 
Trial balance is a financial statement that lists the ending balances of all general ledger accounts at a certain point in time.
• Trial balance is prepared to ensure that the total debits equal total credits in the accounting records.

• It helps in detecting errors in the accounting process.

• It is usually prepared at the end of an accounting period before the financial statements are prepared.

• Example: If the total debits in ...read more
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Q2. What do you understand by BRS?
Ans. 
BRS stands for Bank Reconciliation Statement, which is a statement prepared to reconcile the balance as per company's books with the bank statement.
• BRS is used to ensure that the company's records match the bank's records.

• It helps in identifying any discrepancies or errors in recording transactions.

• Common items in BRS include outstanding checks, deposits in transit, bank charges, and interest.

• The goal of BRS is to ensu...read more
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