Aarti Industries Executive Accountant Interview Questions and Answers

Q1. Tell me about yourself
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Q2. Questions and general questions
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Q3. Accounts related questions
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Q4. Golden rules of Accounts
Ans. 
Golden rules of Accounts are basic principles to record financial transactions accurately.
• Debit what comes in, credit what goes out

• Debit the receiver, credit the giver

• Debit expenses and losses, credit income and gains
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Q5. Excel formulas that used in accounts
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Excel formulas commonly used in accounting include SUM, VLOOKUP, IF, and CONCATENATE.
• SUM: Adds up a range of cells

• VLOOKUP: Searches for a value in the first column of a table and returns a value in the same row from another column

• IF: Performs a logical test and returns one value if the test is true and another if it's false

• CONCATENATE: Joins two or more text strings into one
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Accounting MCQ Question

Q1. Basic Accountig Question
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Q2. What is journal entryy of prepaid expense
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Prepaid expenses are assets that represent payments made for goods or services that have not yet been received.
• Prepaid expenses are recorded as assets on the balance sheet

• The journal entry for prepaid expenses involves debiting the prepaid expense account and crediting the cash or bank account

• As the prepaid expense is used up, it is recognized as an expense on the income statement

• Example: If a company pays $1,200 for i...read more
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