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 Audit interview questions  Audit Interview Questions
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 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question
What is the significance of Journal entry
 Question Submitted By :: Saran Kumar
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is the significance of Journal entry
Answer
# 1
Since we are accounting in double entry system. our assets 
equals to liabilities. There is two side of Journal entry 
one is dr & other is cr.and accounting is done on three 
basis rule.

Personal A/c Dr the receiver & Cr the giver
Nominal A/c debit all expenses & loses & credit all income 
& gains

Real A/c Dr what comes in, Cr what goes out.
 
Is This Answer Correct ?    3 Yes 1 No
Kamal
 

 
 
 
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what is ledger,journal,voucher.  2
Expand H U F  3
 
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