Datamatics Business Solutions Accountant Interview Questions and Answers

Q1. Difference Between forward and future contracts
Ans. 
Forward contracts are private agreements, while futures are standardized and traded on exchanges.
• Forward contracts are customized agreements between two parties, while futures are standardized contracts traded on exchanges.

• Futures contracts have daily settlement and margin requirements, whereas forward contracts settle at the end of the contract period.

• Example: A farmer may enter a forward contract to sell wheat at a s...read more
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Q2. Explain what are swaps
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Swaps are financial derivatives where two parties exchange cash flows or liabilities to manage risk or speculate.
• Types of swaps include interest rate swaps, currency swaps, and commodity swaps.

• In an interest rate swap, one party pays a fixed interest rate while receiving a variable rate, and vice versa.

• Currency swaps involve exchanging principal and interest payments in different currencies, useful for hedging foreign ...read more
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Q1. General HE questions such as previous work experience and expected salary
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Some technical questions regarding the role such as journal entries and definition of terms

Q1. What is CMMI expand and what is sweep account. What is marginal cost what js expense nd expenditure
Ans. 
CMMI is a process improvement model. Sweep account is a bank account. Marginal cost is the cost of producing one additional unit. Expense is a cost incurred in the normal course of business. Expenditure is a payment made for goods or services.
• CMMI stands for Capability Maturity Model Integration and is a process improvement model used in software development.

• Sweep account is a bank account that automatically transfers ...read more
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Q2. What is depreciation what is fixed assets some eg. What is capital gains
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Depreciation is the decrease in value of an asset over time. Fixed assets are long-term assets that are not easily converted to cash. Capital gains are profits from the sale of an asset.
• Depreciation is the allocation of the cost of an asset over its useful life

• Fixed assets are tangible assets that are expected to provide economic benefits for more than one year

• Examples of fixed assets include buildings, machinery, and ...read more
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Q3. What is capital exp .what is the abbreviation for debtors
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Capital exp refers to expenses incurred for acquiring or improving fixed assets. Abbreviation for debtors is DR.
• Capital exp is a long-term investment in assets that will benefit the company for many years.

• Examples of capital exp include purchasing a new building or machinery.

• Debtors are customers who owe money to the company for goods or services provided.

• The abbreviation for debtors is DR, which is used in accounting
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Q4. What is the abbreviations for creditor
Ans. 
The abbreviation for creditor is CR.
• CR stands for creditor

• CR is used in accounting and finance

• CR is the opposite of debtor (DR)
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Reasoning, Aptitude, English, finance

Q1. What are your salary expectations?
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Q2. What is your family background?
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Q3. Why should we hire you?
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Q4. Tell me about yourself.
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