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Accounting General Interview Questions
Questions Answers Views Company eMail

Explain some of the accrued expenses and the accounts in which you would record them?

142

Tell me what is “deposit in transit”?

158

Explain dual aspect term in accounting?

166

Do you know what is a cpa?

148

Do you know offset accounting?

158

Do you know overhead in terms of accounting?

158

Tell us depreciation and its types?

159

Do you know balancing in accounting?

155

Tell me what is reversing journal entries?

153

Tell me what a deferred asset is and give an example?

150

Explain have you ever prepared mis reports and what are these?

158

Tell me how you can adjust entries into account?

139

Tell me what is trial balance in accounting?

183

Explain me what makes a successful account manager?

151

Do you know company's payable cycle?

174


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Un-Answered Questions { Accounting General }

bookkeeping, and accountancy,purchase procedure , Educational institutions ;, secretarial practices, Administratire and Academic rules and regulations in Government offices, Academic institutional , computer skils. etc

2031


What is the difference between trial balance and general ledger?

164


What is book profit? How it was calculated

4750


Explain me do you think accounting standards are mandatory and why?

171


Cheque Received From Customer What is accounting entry and in which vocher. coustomer order is 100 items . 5 items given to customer cost rs 2000 5 items Total 2000 and remaing 95 items not deliveried 100000 Cheque Received

1244






Mention whether the account "cash" will be credited or debited when a company pays a bill?

200


Is there any circumstance where an accountant is allowed to depart from accounting standards while preparing financial statements? If yes explain why, if no explain no.

1183


Tell me under the accrual basis of accounting, when revenues are reported in the accounting period?

1756


why we multiply no. of purchasing year with average profit

1071


Expenses which are incured during the manufacturing are direct expenses.In that case,what are the direct expense in a trading firm where there is no production.Like salary, rent, electricity etc in a trading firm

1483


As an importer of goods through letter of credit, (payment is done through indian bank to foreign back), my question is who is liable to pay with holding tax when the payment is remitted to foreign bank, whether the buyer(importer) or the seller and why?

1058


Sir, I want to know about Entry Tax. I purchased the Packing Box from other state.the entry tax on the packing items is 5 %.but now sale tax deptt. close the entry tax on barrier. the tax will be deposited with return. sir we want to know can i deposit this entry taxon on CST challan or not. if not then how can i deposit, or which cloumn in return shown this amount. please send the return format my mail ID is happynlg@gmail.com

1177


What is the general classification of accounts that usually ledger account involve?

184


What is project implementation?

166


Case Study: Deepak Hand tools Private Limited DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?

4332