Accounts & Audit Executive Interview Questions and Answers for Freshers

The Profit and Loss account can be obtained by analyzing the company's financial statements.

• The Profit and Loss account is prepared by analyzing the company's income statement.

• It shows the company's revenues, expenses, and net profit or loss for a specific period.

• To obtain the Profit and Loss account, one needs to gather financial data such as sales, cost of goods sold, operating expenses, and other income or expenses.

• These data are then organized and presented in a structure...read more

I prefer credit notes to be issued in a timely manner and with accurate information.

• Credit notes should be issued promptly to avoid any delays in resolving billing discrepancies.

• The credit note should clearly state the reason for the credit and provide detailed information about the transaction it relates to.

• It is important to ensure that the credit note is accurate and reflects the correct amount to be credited.

• Maintaining proper documentation and records of credit notes is ...read more