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Categories >> Accounting >> Audit


 Audit interview questions  Audit Interview Questions (428)
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 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4369)
Whether the term loan which was long term as on Mar-11, but
now it is short term due to its repayment within one year
from the reporting period. Whether it should be classified
as short term borrowings or other current liabilities as per
Revised schedule VI.
 Question Submitted By :: Audit
I also faced this Question!!     Answer Posted By  
# 1
it should be classified as short term borrowings 
Is This Answer Correct ?    10 Yes 4 No
Monika Khandelwal
# 2
nature of long term and short term depond upon the date of the amount is taken instead of remaining period of the loan amount 
Is This Answer Correct ?    1 Yes 2 No
Dhiraj Kumar

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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
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i need to pay around $90000 to Mr.R and the agreement clause says that any amount payable as tax are not included in the amount.So how much i need to deduct TDS...?? Caretel 1
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