Interview Questions Answers in Accounting AllOther, Audit, Taxation, Accounting General, Banking Finance

Questions / { ravi }

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This question mainly related to pay rolls in excel could i get the formulae for this an employee is working 8 hours in the company the excess of eight hours will be treated as o.t

2 Accounting AllOther 3841

THIS QUESTION IS RELATED TO PAY ROLLS IF ANY BODY HAS THE FORMULAES IN EXCEL ABOUT PAYROLLS CALUCULATIONS PLS HELP ME OUT

Audit 2071

Hellow this is ravindra wanted to know about excise duty rates pls suggest

Taxation 1938

ambar became insolvent a dividend of 50 paise in rupee is received required journal entry for this transaction

1 Accounting General 10565

Question { ABN AMRO, 40797 }

What is the difference between debt and equity?

Answer

debt means agreeing to pay the amount for which we have taken
loan but where as in the case of debenture the company has
to pay to the debenture holder irrespective of profits where
as they get fixed rate of intrest as they dont nhave voting
rights at the time of liquidation they will be giving the
first preference

equity are the owners of the company where the dividend will
be declared out of profits they has right to participate in
the meetings having voting rights at the time of liquidation
they will be getting last preference

Is This Answer Correct ?

1 Yes

6 No

Question { Joint Stock Company, 20812 }

What is a share?

Answer

A share in the profit given to share holder out of profits
is called share

Is This Answer Correct ?

0 Yes

1 No

Question { Mphasis, 16967 }

what is long term capital gains & short term capital gains ?

Answer

long term capital gain for land, house, e.t.c the
minimum duration is three or more then three years

short term caital gain forland, house, e.t.c the
minimum duration is up to three years

but where as in securities

after 1year it will become long term capital asset
up to i year it will be treated as short term

Is This Answer Correct ?

2 Yes

4 No

Question { 71412 }

what r the deductions from salary ?

Answer

ESI
PF
PT
ANY LOAN TAKEN
LIC
TDS

Is This Answer Correct ?

1 Yes

1 No

Question { 71412 }

what r the deductions from salary ?

Answer

provident fund
professional tax
employee state insurance
lic premium

Is This Answer Correct ?

1 Yes

1 No

Question { 9352 }

What is the mode of payment of Entry Tax?

Answer

ENTRY TAX IS THE TAX WHICH IS LEIVED AT THE TIME OF
PURCHASING OF SECURITIES

Is This Answer Correct ?

1 Yes

5 No

Question { Accenture, 38874 }

What is the present rate of T.D.S and what is the tax for
person salary at present

Answer

THE meaning of t.d.s is tax deducted at source it is the
tax which is deducted at source onthe income earned
there are different types of rates generally rate is 3%

Is This Answer Correct ?

13 Yes

12 No

Question { Accenture, 45003 }

What is the difference between income year, financial year
and FBT year?

Answer

income year means the income which is earned in ayear is
called as income year

financial year generally strts from apri-1 &closes by march-
31st

fbt year means the benefit which was received in particular
year is called fbt year

Is This Answer Correct ?

5 Yes

1 No

Question { 54721 }

what is business entity concept?

Answer

Business& owner are seperate

Is This Answer Correct ?

0 Yes

2 No

Question { 54721 }

what is business entity concept?

Answer

business entity concept explains business and owner are seperate

Is This Answer Correct ?

0 Yes

0 No

Question { IIM, 108987 }

Why profit is a liability and loss is an assets

Answer

al through profit is an asset to the company but it is
shown in the balance sheet liabilities side because
the company should pay to the equity share holders or
partners from the earned profit hence it is liability as
loss on assets as the assets get depriciated every year
for usuage of particular asset

Is This Answer Correct ?

1 Yes

2 No

Question { 20513 }

Distinguish between Piece rate and Time rate?

Answer

peice rate in the sense the company decides to pay certain
price for the peices they produced as to encourag the
workers by paying the scale as decided per peace

time rate generally means the working hours in the company
as the working hours exceeds the additional hours will be
treated as o.t

Is This Answer Correct ?

9 Yes

12 No

Question { ADP, 39176 }

what is break even point?

Answer

break even point means no profit no loss position it is the point where fixed exps are recovered

Is This Answer Correct ?

0 Yes

0 No

Question { NBP, 6100 }

What do you know about the historical background of
Development Financial Institutions (DFIs)?

Answer

cdfi community development financial institutional works
for the development of banking sectors as it is playing a
very imp role in welfare of the banking as the technology
has been vastly developed the banking sectors has become the
growing sectors for the welfare of the custoumers and safety
for the money they invested

Is This Answer Correct ?

1 Yes

0 No

Question { 16251 }

What is operating profit ? how is it different from Gross
profit ?

Answer

operating profit is the profit which is derived from
operating expenses means all indirect expenses which
were incurred durin the operation

gross profit is the profit which is derived before
deduction of tax then it will be treated as gross profit

formulaes- sales - cost of goods sold =gross profit
c.o.g.s = op stock + purchases + all direct exp
gross profit - op exp = op profit

Is This Answer Correct ?

7 Yes

5 No