Branch Commercial Officer

Branch Commercial Officer Interview Questions and Answers

Updated 9 Jul 2021

Q1. WHAT IS THE MAIN RULES OF ACCOUNTING

Ans.

The main rules of accounting are the principles and guidelines that govern the preparation and presentation of financial statements.

  • The principle of consistency

  • The principle of relevance

  • The principle of materiality

  • The principle of conservatism

  • The principle of objectivity

  • The principle of full disclosure

  • The principle of going concern

  • The principle of matching

  • The principle of cost

  • The principle of dual aspect

  • The principle of time period

Q2. WHAT IS RECONCILATION

Ans.

Reconciliation is the process of comparing two sets of records to ensure they are accurate and in agreement.

  • It involves identifying and resolving discrepancies between the two sets of records.

  • Reconciliation is commonly used in accounting to ensure that financial statements are accurate.

  • Examples of reconciliation include bank statement reconciliation, inventory reconciliation, and account reconciliation.

  • The process of reconciliation can be done manually or through automated so...read more

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