Balance sheet interview questions and answers
What is a Balance Sheet? Why is it prepared?
Balance Sheet is a Statement showing financial position of the business on a particular date…
List the type of items which appear under the liability side of a balance sheet….
Items which appear under the liability side of Balance Sheet are:…
What types of items appear under the assets side?
Items which appear under the assets side of Balance Sheet are:…
What are adjustment entries? Why are they passed?
Adjustment entries are the entries which are passed at the end of each accounting period to adjust the nominal..
What are the entries to be passed for Preparing final accounts?
Preparing final accounts - a.) Closing Stock , b.) Depreciation ,c.) Outstanding Expenses , d.) Prepaid Expenses, e.) Accrued Income etc.
Profit and Loss
Rectification of Errors
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