Coal India Accountant Interview Questions and Answers

Golden rules of accounting are basic principles that guide the process of recording financial transactions.

• There are three golden rules of accounting: Debit what comes in, Credit what goes out, Debit the receiver, Credit the giver, Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified.

• For example, when a company receives cash from a...read more

Golden rules of accounting are basic principles that guide the process of recording financial transactions.

• There are three golden rules of accounting: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a com...read more

The golden rules of accounting are basic principles that guide the process of recording financial transactions.

• The three golden rules are: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules ensure that the accounting equation (Assets = Liabilities + Equity) remains balanced.

• For example, when a company receives cash from a custo...read more

There is no known meaning for the acronym fbpb.

• There is no context provided for the acronym fbpb, making it impossible to determine its meaning.

• It is important to provide context when using acronyms to avoid confusion.

• If the acronym fbpb is specific to a certain industry or organization, it may have a unique meaning within that context.

Two way invoice matching is a process where the invoice is matched with the purchase order and the receiving report.

• Two way invoice matching involves comparing the invoice with the purchase order to ensure the prices and quantities match.

• It also involves comparing the invoice with the receiving report to confirm that the goods or services were received.

• Any discrepancies found during the matching process need to be reso...read more

TDS stands for Tax Deducted at Source. It is a tax deduction made by the payer while making payments.

• TDS is deducted as per the rates specified by the Income Tax Department.

• Different sections of the Income Tax Act specify different rates for TDS deduction.

• For example, TDS on salary income is deducted under section 192 at the applicable slab rates.

• TDS on interest income is deducted under section 194A at the rate of 10%.

Golden rules of accounting are basic principles that guide the process of recording financial transactions.

• There are three golden rules of accounting: Debit what comes in, Credit what goes out, Debit the receiver, Credit the giver, Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified.

• For example, when a company receives cash from a...read more

Golden rules of accounting are basic principles that guide the process of recording financial transactions.

• There are three golden rules of accounting: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a com...read more

The golden rules of accounting are basic principles that guide the process of recording financial transactions.

• The three golden rules are: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules ensure that the accounting equation (Assets = Liabilities + Equity) remains balanced.

• For example, when a company receives cash from a custo...read more

There is no known meaning for the acronym fbpb.

• There is no context provided for the acronym fbpb, making it impossible to determine its meaning.

• It is important to provide context when using acronyms to avoid confusion.

• If the acronym fbpb is specific to a certain industry or organization, it may have a unique meaning within that context.