10+ Hygienic Research Institute Interview Questions and Answers

PV ratio is the ratio of contribution to sales. Accrual expenses are recognized but not yet paid, while prepaid expenses are paid but not yet recognized.

• PV ratio is calculated by dividing contribution by sales.

• It helps in determining the break-even point and the impact of changes in sales volume on profit.

• Accrual expenses are expenses that have been incurred but not yet paid, such as salaries or interest.

• Prepaid expenses are expenses that have been paid in advance but not yet...read more

The law of diminishing marginal utility does not hold in the case of addictive substances.

• Addictive substances, such as drugs or alcohol, can lead to an increase in utility with each additional unit consumed.

• The initial consumption of an addictive substance may provide a high level of utility, but subsequent consumption may not provide the same level of satisfaction.

• For example, a person addicted to nicotine may experience increasing satisfaction with each cigarette smoked, d...read more

General accounting principles and practices refer to the basic rules and guidelines that govern the field of accounting.

• These principles include the accrual basis of accounting, the matching principle, and the consistency principle.

• They also involve the use of financial statements, such as the balance sheet, income statement, and cash flow statement.

• Other practices include the use of double-entry bookkeeping, the recording of transactions, and the preparation of financial rep...read more

Differed revenue is revenue received in advance but not yet earned.

• Differed revenue is also known as unearned revenue.

• It is a liability on the balance sheet until the goods or services are delivered.

• Examples include magazine subscriptions, prepaid rent, and gift cards.

• Once the revenue is earned, it is recognized on the income statement.

• Differed revenue is common in industries such as software, consulting, and real estate.

Prepaid expenses are expenses paid in advance but not yet incurred or used.

• Prepaid expenses are recorded as assets on the balance sheet.

• They are gradually expensed over time as they are used or incurred.

• Examples include prepaid rent, insurance premiums, and subscriptions.

• Prepaid expenses are common in industries such as real estate and insurance.

Provision for income tax entry is an accounting entry made to account for future tax liabilities.

• Provision for income tax is made to account for future tax liabilities.

• It is based on estimated tax rates and taxable income.

• It is recorded as a liability on the balance sheet.

• It is adjusted periodically based on actual tax liabilities.

• Example: If a company estimates that it will owe $10,000 in taxes for the year, it will make a provision entry to record the liability.

• Example: If ...read more

Goods in transit entry refers to the accounting treatment of goods that are in transit from one location to another.

• Goods in transit are recorded as inventory on the balance sheet until they reach their final destination.

• The cost of goods in transit is included in the cost of goods sold when the goods are sold.

• Goods in transit can be tracked using shipping documents such as bills of lading or delivery receipts.

• The entry for goods in transit depends on the accounting method us...read more

Communication level can be tested through various methods.

• One can conduct verbal and written communication tests.

• Observing body language and non-verbal cues can also help.

• Group discussions and role-playing exercises can be used to assess communication skills.

• Feedback from colleagues and superiors can provide valuable insights.

• Language proficiency tests can also be used to evaluate communication level.

Golden rules of accounting are basic principles that guide the process of recording financial transactions.

• The three golden rules of accounting are: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit all expenses and losses, Credit all incomes and gains.

• These rules help maintain the balance in the accounting equation: Assets = Liabilities + Equity.

• For example, when a company receives cash from a customer, it would debit the cash account (wh...read more