Ahuja Continental Accountant Interview Questions and Answers

Q1. Rules of accounting
Ans. 
Rules of accounting refer to the principles and guidelines that govern the recording, reporting, and analysis of financial transactions.
• The rules of accounting include the Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS)

• These rules ensure consistency and accuracy in financial reporting

• Examples of rules include the matching principle, revenue recognition principle, a...read more
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Q2. Financial reporting
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Q1. Tell me about yourself and Process flow.
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Q2. Current CTC, Expectations.
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Q3. Are you able to work in 3.30 shift.
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Q4. What is your notice period.
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Q1. What is management fees and Performance fees.
Ans. 
Management fees are fees paid by investors to the fund manager for managing the fund's investments. Performance fees are fees paid based on the fund's performance.
• Management fees are typically calculated as a percentage of the fund's assets under management.

• Performance fees are usually calculated as a percentage of the fund's profits above a certain benchmark.

• Management fees are paid regardless of the fund's performanc...read more
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Q2. Tell me about Derivatives in full details.
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Derivatives are financial instruments whose value is derived from an underlying asset or group of assets.
• Derivatives can be used for hedging, speculation, or arbitrage.

• Common types of derivatives include options, futures, forwards, and swaps.

• Options give the holder the right, but not the obligation, to buy or sell an asset at a specified price before a certain date.

• Futures are contracts to buy or sell an asset at a fut...read more
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Q3. What is Option.
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An option is a financial derivative that gives the holder the right, but not the obligation, to buy or sell an underlying asset at a specified price within a specific time period.
• Options can be used for hedging, speculation, or generating income.

• There are two types of options: call options (the right to buy) and put options (the right to sell).

• The price at which the underlying asset can be bought or sold is called the ...read more
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MCQ questions on GK, Reasoning, Maths, English

Q1. Previous knowledge on the same field
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Q1. What do you mean by Accounting
Ans. 
Accounting is the process of recording, summarizing, and analyzing financial transactions of a business.
• Accounting involves the systematic recording of financial transactions.

• It includes summarizing and organizing financial data into financial statements.

• Accounting also involves analyzing financial information to provide insights and make informed decisions.

• Examples of accounting tasks include bookkeeping, preparing fi...read more
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Q2. What is Real Account of Golden Rule
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Real Account of Golden Rule is a principle in accounting that states all assets have a debit balance and all liabilities have a credit balance.
• Real Account of Golden Rule is based on the principle of double-entry bookkeeping.

• Under this rule, all assets are recorded on the debit side of the balance sheet.

• Liabilities, on the other hand, are recorded on the credit side of the balance sheet.

• This rule helps maintain the fun...read more
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Q3. What is contra Entry
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A contra entry is a bookkeeping entry that offsets the effect of a previous entry in order to correct errors or adjust balances.
• Contra entries are used to reverse or cancel out a previous entry in the accounting records.

• They are typically used to correct errors, adjust balances, or record transactions that involve internal transfers.

• Contra entries are recorded in the opposite account to the original entry, effectively ...read more
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Q1. Only Accounts related
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Q1. Accounts related entries
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Q1. Introduction about one self. Knowledge about accounts
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Q1. Tell me about your favorite film in hindi and what you learnt?
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Q1. Journal entries
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Q2. Direct and indirect taxation
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Q3. Salary discussion
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