Reliance Nippon Life Insurance Interview Questions and Answers

WM is a waste management company that specializes in collecting, processing, and disposing of waste materials.

• WM offers services such as recycling, landfill management, and hazardous waste disposal.

• They work with businesses, municipalities, and individuals to ensure proper waste management practices.

• WM focuses on sustainability and environmental responsibility in their operations.

• They have a fleet of trucks and facilities for waste collection and processing.

• WM is a leader in ...read more

Golden rules of account refer to the basic principles of accounting that must be followed for accurate financial reporting.

• Maintain accurate records of all financial transactions

• Ensure consistency in accounting methods and practices

• Separate personal and business finances

• Follow the principle of double-entry bookkeeping

• Prepare financial statements regularly

• Adhere to accounting standards and regulations

• Maintain confidentiality of financial information

Bank reconciliation process is the process of comparing and matching the balances in a company's accounting records with the bank's records.

• Bank reconciliation is done to ensure that the company's records are accurate and complete.

• It involves comparing the company's bank statement with its own accounting records.

• Any discrepancies are identified and resolved, such as outstanding checks or deposits in transit.

• The end result is a reconciled balance that matches the bank's balanc...read more

A hauler or vendor is a company or individual that provides transportation services for goods or materials.

• Haulers are responsible for transporting goods from one location to another.

• Vendors may also provide additional services such as packaging, storage, or distribution.

• Examples of haulers or vendors include trucking companies, shipping companies, and courier services.

A trial balance is a list of all the general ledger accounts contained in the ledger of a business.

• It is used to ensure that the total debits equal the total credits in the accounting records.

• It is prepared at the end of an accounting period before the financial statements are prepared.

• Errors in the trial balance indicate that there may be mistakes in the accounting records.

• Example: If the total debits in the trial balance equal $100,000 and the total credits equal $95,000, t...read more

Golden rules of accounts are basic principles that guide the recording of financial transactions.

• The three golden rules of accounts are: Debit what comes in, Credit what goes out, Debit the receiver, Credit the giver, Debit all expenses and losses, Credit all incomes and gains.

• These rules ensure that the accounting equation (Assets = Liabilities + Equity) remains balanced.

• For example, when a company receives cash from a customer, it would debit the cash account (what comes in...read more