Dandelion Technologies Interview Questions and Answers

Q1. What are zero rated supplies? If they are already Zero Rated, why we won't call them exempt?
Ans. 
Zero rated supplies are goods or services that are subject to a 0% value-added tax (VAT) rate.
• Zero rated supplies are still subject to VAT, but at a 0% rate.

• Unlike exempt supplies, zero rated supplies are eligible for VAT input tax recovery.

• Examples of zero rated supplies include basic food items, prescription drugs, and exports of goods and services.
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Q2. In an organisation where standard costing is implemented, why is it wrong to use Standard Cost instead of FIFO ?
Ans. 
Using Standard Cost instead of FIFO in an organization with standard costing is wrong because it does not accurately reflect the actual cost of inventory.
• Standard costing assumes that all units of inventory are valued at the same cost, regardless of when they were purchased or produced.

• FIFO (First-In, First-Out) method, on the other hand, values inventory based on the assumption that the first units purchased or produc...read more
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Questions accounting standards, practices, policies, complex accounting entries.
Questions on direct and indirect taxes which mostly operational rather than theoretical.

A 0-1 ERP product development and GTM was case was given. User we're defined in the case. Constraints was time and resources.