AEREN IT Solutions Accountant Interview Questions and Answers

Bad debt is an amount owed by a debtor that is unlikely to be paid and is considered a loss for the creditor.

• Bad debt is a debt that is uncollectible and cannot be recovered.

• It is usually the result of a debtor's financial difficulties or bankruptcy.

• Bad debt is written off as an expense on the creditor's income statement.

• Examples of bad debt include unpaid credit card bills, defaulted loans, and unpaid invoices.

• It is i...read more

Taxable value of a bike purchased for Rs. 25000 with 12.5% GST.

• The taxable value is the cost of the bike minus the GST amount.

• GST value is calculated by multiplying the taxable value with the GST rate.

• Taxable value = Rs. 25000 / (1 + 12.5/100) = Rs. 22222.22

• GST value = Rs. 25000 - Rs. 22222.22 = Rs. 2777.78