what is account opening and account closing??
Answer Posted / 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 |
Post New Answer View All Answers
what is differnce between balance sheet of a bank & a company
sir , i am very confussing enrty for cash receipts in t code fbcj. do the effect on wbs element after selected wbs ?
Difference between depreciation according to cost principle and matching principle
Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass journal entry in the necessary books of accounts?
What is dividend warrants?
what is dmat charges?
What does the financial statement of the company include?
discuss seperate determination concept
can any body tell me the procedure to learn accountancy with easy tips.i.e., layman accounting policy and rules of debit and credit.
Tell me what is the abbreviation for the accounting terms debit and credit?
What qualifications have you achieved?
Can you tell me entry tax will be applicable on Spectacles purchase from u s a
What is balance sheet and off balance sheet?
SIR HOW MANY FORM USE FOR COMMERCIAL TAX & WHAT IS THEIR USES. PLEASE GIVE YOUR SUGGEST
Hai i have completed MBA in HR(major) And Marketing (minor). Now applying FInance if it possible please tell me