WizCommerce Interview Questions and Answers

Accounting is the process of recording, summarizing, and analyzing financial transactions of a business.

• Accounting involves the recording of financial transactions.

• It includes summarizing and analyzing financial data.

• Accounting helps in preparing financial statements and reports.

• It ensures compliance with financial regulations and tax laws.

• Examples of accounting tasks include bookkeeping, budgeting, and financial analysis.

Direct taxes are paid directly to the government by the taxpayer, while indirect taxes are paid indirectly through goods and services.

• Direct taxes are progressive in nature and are based on the income of the taxpayer.

• Examples of direct taxes include income tax, corporate tax, and wealth tax.

• Indirect taxes are regressive in nature and are based on consumption.

• Examples of indirect taxes include sales tax, excise duty, and service tax.

• Indirect taxes are often passed on to the en...read more

BRS stands for Bank Reconciliation Statement.

• BRS is a statement that compares the bank balance as per the bank statement with the balance as per the company's books.

• It helps in identifying any discrepancies or errors in the bank transactions.

• The process involves matching the transactions in the bank statement with the transactions in the company's books.

• Any outstanding checks or deposits are also taken into consideration while preparing the BRS.

• The ultimate goal of BRS is to ...read more

Sales is the process of selling products or services, while marketing is the broader strategy of promoting and creating awareness about those products or services.

• Sales involves direct interaction with customers to generate revenue.

• Marketing focuses on market research, advertising, branding, and creating customer demand.

• Sales is a subset of marketing, as it is one of the tactics used to achieve marketing goals.

• Sales is more transactional, while marketing is more relationship-...read more

Milk is a nutrient-rich liquid produced by mammals. Homogenisation is a process of breaking down fat globules to create a uniform texture.

• Milk is a source of calcium, protein, and other nutrients.

• It is produced by mammals such as cows, goats, and sheep.

• Homogenisation is a process of breaking down fat globules in milk to create a uniform texture.

• This process involves forcing milk through a small opening at high pressure.

• Homogenised milk has a longer shelf life and a smoother t...read more