Assistant Accountant Question:
Download Questions PDF

Explain me what is double entry Bookkeeping? What are its rules?

Answer:

Double entry bookkeeping follows the principle according to which every debit has a corresponding credit; hence total of all debits is always equal to the total of all credits. In this system, one account is debited and at the same time another account is credited by the similar amount.

Download Assistant Accountant Interview Questions And Answers PDF

Previous QuestionNext Question
Tell me do you think you can provide the highest possible attention to detail as an accounting clerk in our company?Tell me what is the difference between a trial balance and a balance sheet?