Conduent Associate Accountant Interview Questions and Answers

The Golden Rules of Accounting are the basic principles that guide the accounting process.

• The first rule is the Debit and Credit rule, which states that for every debit entry, there must be a corresponding credit entry.

• The second rule is the Real Account rule, which states that all assets and liabilities have a debit and credit balance respectively.

• The third rule is the Nominal Account rule, which states that all reven...read more

Prepaid expense is an asset paid in advance for goods or services that will be received in the future.

• Prepaid expenses are recorded as assets on the balance sheet

• They are gradually expensed over time as the goods or services are received

• Examples include prepaid rent, insurance premiums, and subscriptions

• Prepaid expenses are commonly found in industries such as real estate and insurance

Depreciation is the decrease in value of an asset over time due to wear and tear, obsolescence, or other factors.

• Depreciation is a non-cash expense that reduces the value of an asset on the balance sheet.

• It is calculated by dividing the cost of the asset by its useful life.

• There are different methods of calculating depreciation, such as straight-line, declining balance, and sum-of-the-years-digits.

• Examples of assets th...read more