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Categories >> Accounting >> Audit


 Audit interview questions  Audit Interview Questions (428)
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 Accounting General interview questions  Accounting General Interview Questions (2826)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4368)
What is difference between provisional and projected 
balance sheet of the company??
 Question Submitted By :: Audit
I also faced this Question!!     Answer Posted By  
# 1
Provisional Balance Sheet is the one prepared as at the end
an accounting period as per the books of accounts before
statutory audit. In other words it's an un-audited Balance
Sheet, which may be subject to change during the course of
statutory audit.
Where as the a Projected Balance sheet, is a Balance Sheet
as at the end of a future accounting period, which is
prepared to present the Financial position as per the
present plans. Generally projected Accounts Statements are
prepared for 3, 5, 7 or longer future years to present to
banks, financial institutions, venture capitalists or any
one who is a potential investor in or a lender to the company.
Here Financial Statemetns means Profit & loss Account &
balance Sheet. it may also include Cash-Flow Statements,
Funds-Flow Statements, Explanatory Notes, Assumptions, etc.
Is This Answer Correct ?    264 Yes 19 No
H.r. Sreepada Bhagi

Other Audit Interview Questions
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What is the difference between compliance testing and substantive testing?   3
Classify the following accounts into Personal Account, Real Account & Nominal Account. Questions Answers 1. Furniture Account 2. Salaries Account 3. Outstanding Wages Account 4. National Trading Co. Ltd’s Account 5. Stationery Account 6. Prepaid Insurance Account 7. Capital Account 8. Interest Account 9. Building Account 10. Purchase Account 11. Cash Account 12. Bank Account 13. Sales Account 14. Commission received in Advance Account 15. Discount Account 16. Drawing Account 17. Loan Account 18. Mysore Store’s Account 19. Repairs to Machinery Account 20. Stock Account 21. Investment Account 22. Loose Tools Account 23. Bangalore Sports Club’s Account 24. Loss of Goods by Fire Account 25. Motor Vans Account 26. International Trader’s Account 27. Goodwill Account 28. Depreciation Account 29. Bad Debts Account 30. Bad Debts Recovered Account 31. Bank Overdraft Account 32. Book Debts Account 33. Purchases Returns Account 34. Sales Returns Account 35. Postage Account 36. Charity Account 37. Carriage Account 38. Rent Account 39. National College’s Account 40. Bills receivable Account 41. Bills Payable Account Bisleri 6
plz tell me what is the rules of audit how we audit the a/cs book.   4
what is the difference between cash discount and trade discount. what is the journal entry for purchase of 100000 giving (a) 5% trade discount (b) 5% cash discount. TCS 19
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