Colgate Global Business Services Finance Trainee Interview Questions and Answers

Finance aptitude test

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Q1. Golden rules of account Prepaid expenses accounting Accruals and defferals
Ans. 
Golden rules of accounting include prepaid expenses, accruals, and deferrals.
• Prepaid expenses are expenses paid in advance but not yet incurred, recorded as assets until they are used up.

• Accruals are revenues or expenses that have been earned or incurred but not yet recorded.

• Deferrals are revenues or expenses that have been recorded but not yet earned or incurred.

• Prepaid expenses are an example of an asset account, whi...read more
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