CMA CGM General Ledger Accountant Interview Questions and Answers

Fixed assets are long-term tangible assets that are used in the production of goods or services and have a useful life of more than one accounting period.

• Fixed assets are physical assets such as buildings, machinery, vehicles, and equipment.

• They are not intended for sale and are used for the company's operations.

• Fixed assets are recorded on the balance sheet and depreciated over their useful life.

• They are typically cat...read more

General Ledger is a master record of all financial transactions of a company.

• It contains all the accounts and transactions of a company

• It is used to prepare financial statements

• It helps in tracking the financial health of a company

• It is also known as the book of final entry

• Examples of accounts in the general ledger include cash, accounts receivable, accounts payable, and inventory

Depreciation journal entries are used to record the decrease in value of an asset over time.

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

• The journal entry for depreciation includes a debit to Depreciation Expense and a credit to Accumulated Depreciation.

• Depreciation can be calculated using different methods such as straight-line, double-declining balance, or units of produc...read more