:: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Categories >> Accounting >> Accounting General


 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1906)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4371)
What do you mean by the term Accounts Payables/ Receivables?
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
# 1
Both are exist when transactions made on credit instead of

Accounts Payable: Company/customer owes to the supplier
when goods or servies purchased on credit.

Accounts Receivable:money owed by the customer to another
entity in exchange of goods or services that have been
delivered or used, but not yet paid for. this will occur on
credit sales.
Is This Answer Correct ?    32 Yes 1 No
# 2
the term accounts payables means sundry creditors. including creditors and trade creditor, the term is used in balance sheet but not individual.
the term accounts receivables means sundry debtors, sundry debtors includes both debtors and trade debtors the term is used in balance sheet but not individual.
Is This Answer Correct ?    13 Yes 3 No
# 3
Accounts Payables = you purchased from them on credit.
Accounts receivable= you sold them on credit
Is This Answer Correct ?    10 Yes 0 No
# 4
The Total Credit purchases is Accounts payable / Sundry
Creditors, which appear in Liabilities side.

The Total Credit Sales is Accounts Receivables / Sundry
Debtors, which appear in Assets side.
Is This Answer Correct ?    8 Yes 0 No

Other Accounting General Interview Questions
  Question Asked @ Answers
In what circumstance month end liability wil increase ? FIC 1
whcich difference between tally version 4.5, 6.5, 9.0, erp 9 Capital-IQ 9
What are the rules of Account?   7
What do you mean about TDS And Sale tax retrun   1
what is the effect of surplus in p&l account? or what is its significance   1
4. Operating Assets: $ 100,000 Operating Income: $ 18,000 What would be the rate of Return on Investment (ROI)?   1
what is the difference between accrued and due   1
what is tax invoices   1
If vendor is deducting TDS amt while paying, how to pass entry inbooks. Will it be TDS recoverable/TDS payable a/c. kindly clarify   3
how to enter ATM withdrawal transaction in tally   7
cupboard chairs are assets or indirect epenses ?   2
For more Accounting General Interview Questions Click Here 

Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
Copyright 2013  All Rights Reserved.   ::