MATRIX GLOBAL SERVICES Accounts Executive, Accounts Officer Interview Questions and Answers

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 based on the useful life of the asset and the method of depreciation chosen.

• Examples of assets that can be depreciated include buildings, vehicles, machinery, and equipment.

• Depreciation can be straight-...read more

Accounts payable is the amount of money a company owes to its vendors or suppliers for goods or services received but not yet paid for.

• Accounts payable is a liability account in the company's balance sheet.

• It represents the amount owed to vendors or suppliers for goods or services received.

• Accounts payable is recorded when the company receives an invoice from the vendor or supplier.

• The payment is usually due within a s...read more