Sonalika Group of Companies Account Assistant Interview Questions and Answers

Journal entries of reconciliation involve adjusting entries to ensure the balance in the general ledger matches the bank statement.

• Reconciliation involves comparing the transactions in the bank statement with those in the general ledger.

• Adjusting entries are made to correct any discrepancies between the two records.

• Common adjusting entries include recording bank fees, interest income, outstanding checks, and deposits i...read more

The Father Business refers to the original or founding business of a company or organization.

• The Father Business is typically the first business established by a company before any subsidiaries or spin-off ventures.

• It is often the core business that sets the foundation for the company's growth and expansion.

• For example, if a company started as a small bakery and later expanded into a chain of restaurants, the bakery wo