What are Basic Accounting Interview Questions

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Walk me through the three main financial statements

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What is the difference between debit and credit?

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Can you define some common accounting errors?

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What is the abbreviation for Generally Accepted Accounting Principles (GAAP)?

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Explain the basic accounting equation (Assets = Liabilities + Equity).

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When do you capitalize rather than expense a purchase?

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What is working capital?

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How do you record accounts receivable and sales taxes?

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What is the difference between deferred revenue and accounts receivable?

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Why is maintaining accurate and up-to-date accounting records important?

[{"selector":"#anim-e36daab8-52b0-4210-a608-02ec4181d8b7","keyframes":{"opacity":[0,1]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-15f82691-d751-41dd-9cde-415e659a80a2","keyframes":{"transform":["translate3d(-152.1739%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-de7aad06-0d8f-4e4e-a518-9c019eab0fe4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-efd2a27b-6cbc-4a11-aa02-6a67aa97a85b","keyframes":{"transform":["translate3d(119.73683%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0b87078c-f46c-46fe-8afa-7849d773c68e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3e3e5426-0a4d-4a62-983e-fb3a121496fc","keyframes":{"transform":["translate3d(-115.78948%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7eb7f721-bd1e-45e1-bcb1-ddffe691b80d","keyframes":{"opacity":[0,1]},"delay":50,"duration":1600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b4653191-9833-4c76-a3e7-6c90373c776a","keyframes":{"transform":["translate3d(1921.05277%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":50,"duration":1600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1eaae4de-472b-41f8-aea5-cd10bccbddca [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] 10 This assesses your appreciation of the role of accounting. Earn While You Learn