10+ WePay Interview Questions and Answers

Outstanding entries are shown in the liabilities section of the balance sheet.

• Outstanding entries represent amounts owed by the company to its creditors or other parties.

• These entries are typically recorded as accounts payable or accrued expenses.

• Liabilities section of the balance sheet includes accounts payable, accrued expenses, and other outstanding obligations.

• Examples of outstanding entries include unpaid invoices, salaries payable, and taxes payable.

Outstanding rent is recorded as a liability in the books of accounts.

• Outstanding rent is the rent that is due but not yet paid by the tenant.

• It is recorded as a liability in the books of accounts.

• The entry for outstanding rent is: Debit Rent Receivable and Credit Rent Income.

• For example, if the rent due for the month of January is not paid by the tenant, it will be recorded as outstanding rent.

• The outstanding rent will be shown as a liability in the balance sheet until it is ...read more

There are three main types of accounting: financial accounting, management accounting, and tax accounting.

• Financial accounting focuses on preparing financial statements for external stakeholders.

• Management accounting involves providing information to help internal management make decisions.

• Tax accounting deals with tax-related matters such as tax planning and compliance.

• Other specialized areas of accounting include forensic accounting, cost accounting, and auditing.

TNA stands for Training Needs Analysis. It is a process to identify gaps between current and desired employee skills and knowledge.

• TNA helps in determining training requirements for individuals or groups.

• It involves collecting data through surveys, interviews, and observations.

• Analysis of the collected data helps in identifying skill gaps and training needs.

• TNA can be conducted through various methods like questionnaires, focus groups, and performance evaluations.

• Examples of ...read more

It depends on the content and purpose of the presentation, but I would estimate around 1-2 hours.

• The time required to make a presentation depends on various factors such as the complexity of the content, the purpose of the presentation, the audience, and the level of detail required.

• If the presentation requires extensive research and data analysis, it may take longer to prepare.

• If the presentation is for a familiar topic and the slides are already prepared, it may take less t...read more

The 7 sutras of a village organization are principles for effective community management.

• Sthapana - establishment of the organization

• Sampatti - wealth management

• Swarajya - self-governance

• Samanvaya - coordination and cooperation

• Sakshamata - capacity building

• Sahabhagita - community participation

• Samanata - equality and social justice

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

• Accounting involves recording financial transactions such as sales, purchases, and expenses.

• It also includes summarizing and analyzing the financial data to prepare financial statements like balance sheets and income statements.

• Accounting helps in providing insights into the financial health of a business and making informed decisions.

• There are different branches...read more

Valuation of agriculture goods involves determining the fair market value of crops, livestock, and other agricultural products.

• Factors that affect valuation include supply and demand, quality, and market conditions.

• Valuation methods may include cost approach, market approach, and income approach.

• Examples of agricultural products that may require valuation include corn, wheat, soybeans, cattle, and dairy products.

0/1 and 1/0 are mathematical expressions representing division by zero.

• 0/1 is equal to 0

• 1/0 is undefined

• Division by zero is not allowed in mathematics

Tools for training include visual aids, simulations, e-learning, lectures, and hands-on activities.

• Visual aids such as PowerPoint presentations and videos

• Simulations like role-playing exercises and case studies

• E-learning modules and online courses

• Lectures and classroom instruction

• Hands-on activities like workshops and on-the-job training

Livelihood refers to the means of supporting oneself and one's family through work or income.

• It includes all the activities and resources that people use to earn a living.

• Examples include farming, fishing, trading, and wage labor.

• Livelihood can be affected by factors such as economic conditions, natural disasters, and government policies.

• Sustainable livelihoods aim to ensure that people have access to the resources and opportunities they need to support themselves over the lo...read more

SHG is a self-help group that works towards poverty alleviation through various means like goatry, poultry, beekeeping, etc. It also uses Tally ERP 9.0, TDS, GST, and journal entries.

• SHG is a group of people who come together to help each other financially and socially

• It provides microfinance to its members to start small businesses like goatry, poultry, beekeeping, etc.

• Tally ERP 9.0 is used for accounting and bookkeeping purposes

• TDS is deducted on payments made to contractor...read more