Consero Global Solutions Management Trainee Interview Questions, Process, and Tips

Communication test , essay writing , aptitude , english grammer

Q1. Golden rules of accounting
Ans. 
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 all expenses and losses, Credit all incomes and gains.

• These rules help maintain the balance in the accounting equation: Assets = Liabilities + Equity.

• For example, when a company receiv...read more
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Q2. Credit purchase journal entry
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Q3. Credit sales journal entry
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Q4. Prepaid expenses journal entry
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Q5. Current liability meaning
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Current liabilities are debts or obligations that are due within one year or the operating cycle of a business.
• Current liabilities are obligations that must be settled within one year or the normal operating cycle of the business.

• Examples include accounts payable, short-term loans, accrued expenses, and taxes payable.

• They are listed on the balance sheet and are important for assessing a company's liquidity and financia
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Typing speed required and communication skills required

Accounting questions, journal entry Introduction
Resume
Why finance
Why consero
Strength and weakness
Hobbies
Certifications

Accounting concepts and convention
Golden rules
Journal entry
Balance sheet
Profit and loss

Q1. Journal entry for Purchase and sales
Ans. 
Journal entry for Purchase and sales
• Purchase journal entry involves debiting purchases account and crediting accounts payable or cash account

• Sales journal entry involves debiting accounts receivable or cash account and crediting sales account

• Both entries are recorded in the general ledger to track transactions
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Q2. Journal entry for baddebt and provision for baddebt
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Journal entry for bad debt and provision for bad debt
• Bad debt journal entry involves debiting bad debt expense and crediting accounts receivable

• Provision for bad debt journal entry involves debiting bad debt expense and crediting provision for bad debt

• Bad debt is recognized when a customer fails to pay their outstanding balance

• Provision for bad debt is an estimated amount set aside to cover potential future bad debts
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Q3. Basic accounting questions
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Q4. Journal entries for prepaid and accuals
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Q1. About accounting and golden rules
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Q2. About baddebt and journal entries
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