Pristine Ingredients Interview Questions and Answers

Case study is to he given some problems please solve it, he said

Q1. What is journal, ledger?
Ans. 
Journal is a record of all financial transactions in chronological order. Ledger is a collection of accounts with their balances.
• Journal is the first step in the accounting process where all transactions are recorded in chronological order.

• Ledger is a collection of accounts with their balances, which are updated from the journal entries.

• Journal and ledger are important tools for maintaining accurate financial records a...read more
Answered by AI
Add your answer
Q2. What is Trial balance?
Ans. 
Trial balance is a list of all the general ledger accounts and their balances at a specific point in time.
• Prepared at the end of an accounting period

• Used to ensure that the total debits equal the total credits

• Identifies errors in the accounting records

• Does not guarantee that the financial statements are accurate

• Example: If the company has a $10,000 balance in the accounts receivable account, the trial balance will show
Answered by AI
Add your answer
Q3. What is liabilities?
Ans. 
Liabilities are debts or obligations that a company owes to others.
• Liabilities are recorded on the balance sheet of a company.

• They can be short-term (due within a year) or long-term (due after a year).

• Examples of liabilities include loans, accounts payable, and accrued expenses.

• Liabilities are important to track as they affect a company's financial health and ability to pay off debts.
Answered by AI
Add your answer

Basic details introduce self

Q1. What experience you have
Add your answer
Q2. How much expect salary
Add your answer