Interested to Buy Any Domain ? << Click Here >> for more details...
what is account opening and account closing??
- 10 Answers
- 13591 Views
- Royal Bank Of Scotland, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 |
Derivative
What is the difference between income and income statement???
Whether we add or not the Insurance policy premium of vehicle in asset value?
why accounting is important in business?
what are examples of non- marketable securities ?
One Institute, after completion of course not issue any certificate to students, they issued certificate from other branded institute with cost (Kindly provide the term of this expenditure to appear in P&L a/c)
what is the meaning of contra, give the example
deduct deperection from land true or false
what is the minimum & maximum amount paid by company per day
What is ROI?
we given watches to Employees how to treat accountability what is the debit and credit, or any provision to be ?
Which of the following are of capital nature? (a) Purchase of a goods (b) Cost of repair (c) Wages paid for installation of machinery (d) Rent of a factory
Audit 
