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Home Interview Accounting and Finance Comments

  • Question
  • What is 3 Way Matching?


  • Correct Answer
  • 3 way matching is to compare three documents ie, 1 Purchase order 2 Receipt of Items/Packing slip 3 Invoice For example, if we Order for 50 Items in purchase order and received 40 Items only instead of 50 items But we received invoice for 50 items After comparing the three documents we pay for only 40 Items 


  • Accounting and Finance problems


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    • 1. What do you understand by Intercompany Settlement?
    • Discuss
    • 2. How does the payment mechanism work?
    • Discuss
    • 3. What is meant by liabilities ?
    • Discuss
    • 4. What is the meaning of invoice?
    • Discuss
    • 5. what is the job description of a payroll officer?
    • Discuss
    • 6. what is the difference between the terms 'credit' and 'debit' from the customer point of view?
    • Discuss
    • 7. What is reconciliation ?
    • Discuss
    • 8. What is the Debit Balance recovery? How we can recover if we won?t have any future transactions from supplier ?
    • Discuss
    • 9. Liabilities are defined as
    • Discuss
    • 10. Which of these is an example of eminent domain?

    • Options
    • A. a corporator forces public for sell their lands to him
    • B. a state forces people to sell their fields for building highway
    • C. Both A & B
    • D. None of the above
    • Discuss


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