Manipal Business Solutions Channel Development Manager Interview Questions and Answers

An account is a record of financial transactions related to a specific entity or individual.

• An account is used to track financial activities such as purchases, sales, payments, and receipts.

• It helps in organizing and summarizing financial information for reporting and analysis.

• Examples of accounts include bank accounts, credit card accounts, and investment accounts.

Realised in account in golden rules refers to recognizing revenue when it is earned and expenses when they are incurred.

• Recognize revenue when it is earned, not when cash is received

• Recognize expenses when they are incurred, not when they are paid

• Follow the principle of matching revenue with expenses

• Ensure accurate financial reporting by adhering to these rules

Real account refers to accounts that represent assets, liabilities, and equity, and are not temporary in nature.

• Real accounts are permanent accounts that do not close at the end of an accounting period.

• They include assets like cash, accounts receivable, and property; liabilities like accounts payable and loans; and equity accounts.

• Real accounts are also known as balance sheet accounts.

• Examples of real accounts include ...read more

Tax credits vary depending on the specific tax laws and regulations in each country.

• Tax credits are determined by the government based on various factors such as income level, expenses, and investments.

• Tax credits can be for specific purposes such as education, healthcare, or energy efficiency.

• Examples of tax credits include the Earned Income Tax Credit (EITC), Child Tax Credit, and American Opportunity Tax Credit.

Marketing is the process of promoting and selling products or services by understanding customer needs and creating value.

• Identifying target market and customer needs

• Creating and communicating value propositions

• Developing pricing and distribution strategies

• Implementing promotional activities

• Analyzing market trends and competition

• Building and maintaining customer relationships