what is account opening and account closing??
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Answer / ravi harjai
THE ACCOUNT WHICH ARE BALANCES EVERY FINANCIAL YEAR
AT THE BEGNING OF THE FINANCIAL YEAR ACCOUNT CALLED
OPENING ACCOUNT AND AT THE LAST DAY OF FINANCIL YEAR
WHEN THE ACCOUNT ARE CLOSED IS CALL CLOSING ACCOUNT>>>>>
| Is This Answer Correct ? | 29 Yes | 1 No |
IF YOUR COMPANY IS NOT NEW AND IT IS RUNNIG FROM LAST YEAR.
END OF FINANCIAL YEAR BALANCE OF THE LEDGER IS CALLED
CLOSING BALACE AND NEXT FINANCIAL IT WILL CALLED OPENING
BALANCE.
| Is This Answer Correct ? | 9 Yes | 2 No |
Answer / sir anjam khan
account opening mean the new financial year opening. and
account closing means at last of financial year the closing
of all accounts
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / vijay gombi
account opening mean the begining of financial year or
carry farward of last year closing balance or open a new
account on particular day. and
account closing means at last of financial year the closing
of all accounts or closing of particular transaction.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / parmod
account open is when we check the clients details how much
payment withdrawl and diposit payment submit finaly update
statuse.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / udaya bhaskar
Recording a Transaction of its own king/new person/new
party for the first time in your books is called account
opening and settling of the such transaction by way of
transfer/payment is called account closing. Account closed
would not appear in the balance sheet.
| Is This Answer Correct ? | 1 Yes | 1 No |
As per Accounting procedure Account opening Means previous
year closing balance current year Opening balance.
Other wise New person intended the company that time
opening the New Account. All transaction entred in full
year after closing the transaction that is closing of
accounting.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / parmod
account open is when we check the clients details how much
payment withdrawl and diposit payment submit finaly update
statuse.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mohammad kausar
1- Following the going concern concept, what is the closing of last year becomes the opening of next year.
2-Carrying forward balances from one year to immediate next succeeding year is called account opening.
and netting of an account at month/quarter/year is called account closing.
| Is This Answer Correct ? | 0 Yes | 0 No |
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