Accountant Interview Questions and Answers Basic Accounts

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💡 Simplifying Accounting Fundamentals

Accounting doesn’t have to be complicated! At Skillshort, we make it easy to grasp essential concepts like:

🔹 Liabilities: Debts & obligations requiring resource outflows.
🔹 Income: Economic benefits gained during an accounting period.
🔹 Assets: Resources with future benefits like cash, property, or investments.
🔹 Expenses: Costs incurred to generate revenue (e.g., salaries, rent).

⚖️ Rule of Accounting (Debit/Credit):

Salary Paid ➡️ Debit: Salary Expense, Credit: Cash

Capital Introduced ➡️ Debit: Cash, Credit: Capital


📊 Master the journey from Journal Entries ➡️ Profit & Loss Statements ➡️ Balance Sheets to build financial clarity and confidence.

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