Flipkart Executive Accountant Interview Questions and Answers

Journal entries are accounting records that show the financial transactions of a business.

• Journal entries are used to record debits and credits for each transaction.

• They include the date of the transaction, accounts affected, and amounts involved.

• Journal entries are typically recorded in a general ledger.

• Example: Debiting cash and crediting revenue for a sale transaction.

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

• The three golden rules of accounting are: 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 ensure that every transaction is recorded accurately and consistently.

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

A cheque is a written order from an account holder to a bank to pay a specified amount of money to a designated recipient.

• A cheque is a negotiable instrument used to make payments.

• It includes details such as the amount to be paid, the date, the payee's name, and the account holder's signature.

• Cheques are commonly used for business transactions and personal payments.

• They provide a secure and convenient way to transfer f