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Accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions.
Basic principles of accounting include the accounting equation, double-entry accounting, and the accrual basis of accounting.
The accounting equation states that assets must equal liabilities plus equity.
Double-entry accounting requires that every transaction have...
I applied via Naukri.com and was interviewed before Aug 2020. There was 1 interview round.
A type of obligation that a company or individual owes to another party.
Liability refers to the legal obligation to pay debts or fulfill other obligations.
It can be classified as current or long-term, depending on the time frame for repayment.
Examples include accounts payable, loans, and taxes owed.
Liabilities are listed on a company's balance sheet and are an important factor in determining financial health.
Debit represents incoming funds while credit represents outgoing funds.
Debit is used to record an increase in assets or a decrease in liabilities or equity.
Credit is used to record a decrease in assets or an increase in liabilities or equity.
For example, when a company receives cash from a customer, it would debit cash and credit accounts receivable.
Conversely, when a company pays a supplier, it would credit cash and d
I applied via Referral and was interviewed before Mar 2021. There was 1 interview round.
I applied via Referral and was interviewed before Dec 2016. There were 3 interview rounds.
I applied via Naukri.com and was interviewed in Feb 2022. There were 3 interview rounds.
TCS is Tax Collected at Source. TAN is Tax Deduction and Collection Account Number. E-way challan is an electronic waybill for transportation of goods. SLA is Service Level Agreement. One time vendor is a vendor who is used only once for a specific transaction.
TCS is a tax collected by the seller from the buyer at the time of sale.
TAN is a 10-digit alphanumeric number used as an identification number for persons deduct...
SAP,EXCEL
I applied via Walk-in and was interviewed in Apr 2023. There were 2 interview rounds.
I applied via Naukri.com and was interviewed in Apr 2023. There were 2 interview rounds.
The three golden rules of accounting are the 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 l
GST is an indirect tax on the supply of goods and services in India.
GST stands for Goods and Services Tax.
It is a comprehensive tax levied on the supply of goods and services in India.
It is a destination-based tax, which means that it is levied at the point of consumption.
GST has replaced multiple indirect taxes like excise duty, service tax, VAT, etc.
It has simplified the tax structure and made it easier for businesse
Income tax is a direct tax levied on an individual's or entity's income by the government.
It is calculated as a percentage of the income earned by an individual or entity.
The tax rates vary depending on the income bracket and the tax laws of the country.
The tax collected is used by the government to fund public services and infrastructure.
Examples of income that are subject to income tax include salaries, wages, rental...
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I applied via Campus Placement and was interviewed in Sep 2021. There was 1 interview round.
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