Nalsoft Consultant Interview Questions and Answers

The golden rule of accounting is to maintain accurate and complete records of all financial transactions.

• Maintain accurate and complete records of all financial transactions

• Ensure all transactions are properly classified and recorded

• Regularly reconcile accounts to ensure accuracy

• Follow generally accepted accounting principles (GAAP)

• Be transparent and honest in financial reporting

Accounts refer to financial records that track the transactions of a business or individual. They differ based on their purpose and type of transactions.

• Accounts can be classified into various types such as asset, liability, equity, revenue, and expense accounts.

• Asset accounts track the resources owned by a business or individual, such as cash, inventory, and property.

• Liability accounts track the debts owed by a busine...read more