Befree Business Resourceing Associate Executive Interview Questions, Process, and Tips

Questions related to basic accounts, GST, MS Excel knowledge, case studies etc

Q1. Basic accounting, GST related questions.
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Q2. Also questions related to the resume
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It consist of Basic accounting questions, GST, Reasoning and Aptitude questions

Q1. 1. what is depreciation
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Depreciation is the allocation of the cost of a tangible asset over its useful life.
• Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.

• It is used to spread out the cost of an asset over its useful life for accounting and tax purposes.

• Common methods of calculating depreciation include straight-line, double declining balance, and units of production.

• Examples of depreciable assets...read more
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Q2. Why would you like to join our company
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Q1. 3 golden rule for accounting
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The 3 golden rules for accounting are the rules of debit and credit, the rule of assets = liabilities + equity, and the revenue recognition principle.
• Rule of Debit and Credit: Every transaction has equal debits and credits, ensuring the accounting equation stays balanced.

• Assets = Liabilities + Equity: This equation must always hold true, representing the financial position of a company.

• Revenue Recognition Principle: Re...read more
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Q2. Difference between accrued and prepaid exp/revenue, and journal entries.
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Accrued expenses/revenue are incurred but not yet paid/received, while prepaid expenses/revenue are paid/received in advance.
• Accrued expenses/revenue are recognized when incurred, regardless of payment/receipt.

• Prepaid expenses/revenue are recognized when paid/received, and then expensed/revenue recognized over time.

• Journal entry for accrued expenses: Debit expense account, Credit accrued liability account.

• Journal entry...read more
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Q3. What is accrual concept
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Accrual concept is an accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.
• Revenue is recognized when it is earned, not when cash is received.

• Expenses are recognized when they are incurred, not when they are paid.

• Accrual accounting provides a more accurate representation of a company's financial position.

• Example: A company records revenue when...read more
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Q4. Questions from your CV
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Q5. Capitalization and revenue exp and there entries
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Q1. In HR round they ask yourself and give information about company policy
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In aptitude test they ask mathematics,E-mail writing, accounting question

Q1. What is bad debt and bad debt recovery entry
Ans. 
Bad debt is an amount owed by a debtor that is unlikely to be paid. Bad debt recovery entry is the process of recovering the amount owed.
• Bad debt is a loss for the company and is written off as an expense

• Bad debt recovery entry is made when the amount is recovered

• The entry is made by debiting the cash account and crediting the bad debt recovery account

• Example: If a customer owes $1000 and is unable to pay, it becomes b...read more
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