Financial Specialist Question:
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Do you know what is the difference between accounts receivable (AR) and accounts payable (AP)?
Answer:
This is one of many elementary interview questions for accountants that you may be asked to explore your general accounting knowledge. While it’s quite simple to respond with the basic definition that accounts receivable are assets and accounts payable are liabilities, take this question as an opportunity to demonstrate your actual previous work experience with these tasks.
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