Reconciliation Analyst
Reconciliation Analyst Interview Questions and Answers for Freshers
Q1. What is derivatives Types of derivatives What is bond and debentures
Derivatives are financial instruments whose value is derived from an underlying asset. Types include options, futures, swaps. Bonds are debt securities issued by companies or governments, while debentures are a type of bond backed by the issuer's creditworthiness.
Derivatives are financial instruments whose value is based on an underlying asset, such as stocks, bonds, commodities, or currencies
Types of derivatives include options, futures, forwards, and swaps
Options give the h...read more
Q2. Whati the bank reconciliation statement
A bank reconciliation statement is a document that compares the bank statement with the company's records to identify any discrepancies.
It is used to ensure that the company's records match the bank's records.
It lists all the transactions that have been recorded by the company but are not yet reflected in the bank statement.
It also includes any transactions that have been recorded by the bank but are not yet reflected in the company's records.
The purpose of the bank reconcili...read more
Q3. Journal entry for sale on credit
A journal entry for a sale made on credit.
Debit Accounts Receivable and credit Sales for the amount of the sale
Debit Cost of Goods Sold and credit Inventory for the cost of the goods sold
Debit Sales Tax Payable and credit Sales Tax Liability for any applicable sales tax
Debit Cash and credit Accounts Receivable when the payment is received
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