Accounting Interview Questions and Answers



1. If we withdraw cash from OD account, is it contra entry or receipt entry ?

Answer : The withdrawal of cash from OD account is a contra entry...



2. What is accounting standard ?

Answer : An accounting standard is a common set of principles...



3. What is the difference between Revenue and Income ?

Answer : Revenue is the total turnover or transactions of the firm...



4. What is ratio analysis ? Explain the different kinds of ratios in detail ?

Answer : Ratio Analysis is a powerful tool...



5. What is the differences among issued, paid up, authorised,subscribed capitals ?

Answer : It means the capital elevated by the issue of shares...



6. What is the Difference Between Retail Invoice & Tax Invoice ?

Answer : Retail Invoice is the normal invoice which does’t contain...



7. What is Sense and Nifty ? Difference between these two ?

Answer : Sensex is Sensitive Index. People are happy when the Sensex...



8. What is Vendor Reconciliation and how is it done ?

Answer : Vendor reconciliation means statement showing difference of Company...



9. What is the benefit you gain from financial service ?

Answer : Careers in financial services pay a great deal more than most other fields, with some of the highest...



10. What is Tax ?

Answer : Tax is nothing but it is a charge made by government on the goods...



11. What happen if employer not deducts TDS on salary paid up to December ?

Answer : When TDS isn't deducted at source, the deductor shall be at risk of interest and penalty...




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