Interview Questions Answers in Taxation, Accounting General

Questions / { chetan mandhare }

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Answers / { chetan mandhare }

IF the turnover of assessee is below Rs 50 lacs but profit
declared is less than 5% of turnover . IS he subject to tax
audit?

Answer

turnover crossing 40 lacs so it will attract tax audit

Is This Answer Correct ?

1 Yes

1 No

Question { 10870 }

What is Inter branch accounts reconciliation

Answer

between two branches

Is This Answer Correct ?

4 Yes

0 No

Question { 4673 }

what is deferred income & deferred revenue expenses

Answer

deferred expenses is the expenses the benefit of which will
carry for more than one financial year.

Is This Answer Correct ?

8 Yes

0 No

Question { 5601 }

what is depreciation

Answer

Depreciatation is reduction in tangible assets value over
period of time

Is This Answer Correct ?

10 Yes

0 No

Question { 3906 }

what is monthly final accounts and analysis

Answer

Preparation of Monthly expenses & losses statements for
monthly reporting.

Is This Answer Correct ?

1 Yes

0 No

Question { ABC, 13050 }

what is Inward & outward remittances

Answer

Inward remittance is foreign receipt
Outward remittance is import payment

Is This Answer Correct ?

21 Yes

7 No

Question { 5182 }

what is Debtors & Creditors management

Answer

Once received money we will pay creditors.

Is This Answer Correct ?

0 Yes

4 No

Question { 8137 }

what is MIS Report

Answer

Manager information system

Is This Answer Correct ?

6 Yes

17 No

Question { 6530 }

what is mean by DDU SHIPMENT AND DDP SHIPMENT

Answer

Delivery duty unpaid
delivery duty paid

Is This Answer Correct ?

0 Yes

1 No

Question { Nandan, 18233 }

how can we make a TDS entry in tally 9?
Rent EXp : 10000
TDS on rent : 10%
Party name : Mr, X
Bank : SBI

Answer

X bank Dr 1000
to Tds on Rent Cr 1000

Is This Answer Correct ?

14 Yes

6 No