Anil Kumar & Co. Audit Assistant Interview Questions and Answers

Accounting is the process of recording, summarizing, and analyzing financial transactions. Auditing is the examination and verification of financial records.

• Accounting involves recording financial transactions, preparing financial statements, and analyzing financial data.

• Auditing involves examining financial records to ensure accuracy and compliance with laws and regulations.

• Accounting helps in decision-making, budgeti...read more

GST stands for Goods and Services Tax, a consumption tax levied on the supply of goods and services.

• GST is a value-added tax levied on most goods and services sold for domestic consumption.

• It is a single tax that replaces multiple indirect taxes like VAT, service tax, etc.

• GST is divided into Central GST (CGST), State GST (SGST), and Integrated GST (IGST) depending on the type of transaction.

• It aims to simplify the tax ...read more

GST stands for Goods and Services Tax, a value-added tax levied on most goods and services sold for domestic consumption.

• GST is a consumption tax that is collected on the value added to goods and services at each stage of the supply chain.

• It replaced multiple indirect taxes in India and aims to simplify the tax structure and reduce tax evasion.

• GST has different rates for different goods and services, such as 5%, 12%, 1...read more

Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions. GST is a value-added tax levied on most goods and services sold for domestic consumption.

• Accounting involves recording financial transactions, preparing financial statements, and analyzing financial information.

• GST stands for Goods and Services Tax, which is a value-added tax levied on the supply of goods and services.

• ...read more