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Categories  >>  Accounting  >>  Audit
 
 


 

 
 Audit interview questions  Audit Interview Questions
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 Accounting General interview questions  Accounting General Interview Questions
 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question
what is monthly closings.
 Question Submitted By :: Guest
I also faced this Question!!     Rank Answer Posted By  
 
  Re: what is monthly closings.
Answer
# 1
in the fileds of accounting all the transaction take place 
during the 1st day of month and ending the 30th or 31st 
last day of the month accounts are closing and posting them 
to their revelent or respective account.
for e.g.like petty cash expness day to day expness are 
maintained and at the end of the month balance are positng 
to cash account.

whether it is purchase day book or sales book or purchase 
return book or sales return book peridically or monthly 
posting to respective account.
 
Is This Answer Correct ?    2 Yes 1 No
Ratnesh Shukla
 

 
 
 
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