Reliance Retail Junior Associate Interview Questions and Answers

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• 100 watts is a unit of power, not force.

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The golden rules of accounting are basic principles that guide the recording of financial transactions.

• The first golden rule is the Personal Account rule, which states that debit the receiver and credit the giver.

• The second golden rule is the Real Account rule, which states that debit what comes in and credit what goes out.

• The third golden rule is the Nominal Account rule, which states that debit all expenses and losse

Debtor and creditor are accounting terms used to describe the relationship between two parties in a financial transaction.

• A debtor is a person or entity that owes money to another party.

• A creditor is a person or entity to whom money is owed by another party.

• Debtors are recorded as liabilities on the balance sheet, while creditors are recorded as assets.

• Examples of debtors include customers who have not yet paid for goo...read more