What is Account?

Answers were Sorted based on User's Feedback



What is Account?..

Answer / chandu

account is the summery of business transaction after classifying them into debit and credit.

Is This Answer Correct ?    5 Yes 0 No

What is Account?..

Answer / t.r.n. sivakumar

Account is a financial record of business transactions in
which maintain according to the principle of double entry.
It also implies that every debit has an equal credit and
every credit has an equal debit. It has two sides in which
classified into debit and credit. On left hand side of the
accont is called as debit side and right hand side of the
account is called as credit side. On debit side of account
use 'To' and credit side of account 'By'.

Is This Answer Correct ?    1 Yes 0 No

Post New Answer

More Accounting AllOther Interview Questions

Dear sir,i have completed M.sc,MBA.STILL I AM NOT GETTING WELL POSITION .I THINK ON LOW BUGET ON COURSE TO IMPROVE MY POSITION IN FINANCE FIELD.

0 Answers  


What Question ask in MARKIT Company?

0 Answers  


What is the 3 basic rules in accounting by account? What is the 3 type in basic rules?

6 Answers  


what is depreciation?

48 Answers   Genpact,


What are liabilities

3 Answers  






intorduse your self ? what to say if iam fresher.

0 Answers   Accenture,


define p&l approprate

2 Answers   Genpact,


How many accounting standards in india

90 Answers   Ashok Leyland, Banking, dscl, Genpact, HSBC, IndiaCom, ITC Infotech, Leighton, MBA, Ramaniyam Real Estates, Shriram, SKA, SVSM,


what is zero base budget?

3 Answers  


​differed revenue expenditure

1 Answers   Capital IQ,


what is the difference between share and debenture

1 Answers  


What is the working formula for Inventory turnover

0 Answers   Genpact,


Categories