what is account opening and account closing??
Answer Posted / ankur
whenever a transaction took place, the entry is very first
entered in a book called journal is accounting opening.
and whenever any entry passed to cancel its effect is
called accounting closing.
Is This Answer Correct ? | 8 Yes | 14 No |
Post New Answer View All Answers
Do you know compound journal entry?
What do you think is a bank reconciliation statement?
What a deferred asset is and give an example?
shares convert into share capital what is the journal entry? how many ledgers need to create?
Other accounting interview questions to expect when you interview for an accountancy job include:
Explain a time when you have not met your goal?
Tell us why did you select accounting as your profession?
what is special purpose ledger in SAP.. is it required to configure in ECC 6.0 since New GL concept is active?
Can you differentiate accounting and auditing?
What is meaning of invoice?
What do you mean by material facts in accounting?
What is the difference between lc and bg(letter of credit
WHAT IS MIS REPORT IN ACCOUNTS ? WHAT IS ITS USE IN ACCOUNTS & GIVE WITH AN EXAMPLE ?
What are mis reports and how do you prepare it?
What is the difference between trial balance and general ledger?