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Categories >> Accounting >> Accounting General


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 Accounting General interview questions  Accounting General Interview Questions (2833)
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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
Why we Deduct TDS ?   6
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wt is Bank Guarantee?wt the pr0 cedure of BG   1
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what do you mean by accrual & due ? What is the difference between Accrual & due? HCL 4
Accounting golden rules? ACS 3
What is the difference between Target and Budget?   1
How to make balance sheet, please advise me in details... Thankx   1
Hi Everyone, We purchased the Goods from other state, and I am liable for Entry Tax, my entry Tax is deposited in bank before 15th of every month. Now my questtion is : I purchase the Packing Items from other state but I return the same to suplier should it require entry tax deposit or not for this items. please explain   1
9. Fixed Cost assumed to be $ 2,700. Variable Cost is $ 70 per unit. Selling Price is $ 100 per unit. What would be the Breakeven Point in Units?   1
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