Avanti Accounting Services Accountant Interview Questions and Answers

Written Test in the Subject like Accounting, Audit, Taxation and English. No time limit

Q1. Trail Balance adjustment
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Q2. True and Fair Presentation
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Q3. Audit Documentation and Audit Evidence
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Q4. Capital vs Revenue Expenditure
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Capital expenditure is for long-term assets while revenue expenditure is for day-to-day expenses.
• Capital expenditure is for acquiring long-term assets like property, plant, and equipment.

• Revenue expenditure is for day-to-day expenses like salaries, rent, and utilities.

• Capital expenditure is recorded as an asset on the balance sheet and depreciated over time.

• Revenue expenditure is recorded as an expense on the income st...read more
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Q5. Concept of Tax Deducted at Source
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Tax Deducted at Source (TDS) is a system of collecting tax at the source of income.
• TDS is applicable to various types of income such as salary, interest, commission, rent, etc.

• The person making the payment deducts a certain percentage of tax before making the payment to the recipient.

• The deducted tax is then deposited with the government on behalf of the recipient.

• TDS helps in the regular collection of taxes and preven...read more
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