10+ SheWings Interview Questions and Answers

I would correct the entry by reversing the debit entry in miscellaneous expenses and posting a credit entry in the correct account for purchase of goods.

• Reverse the debit entry in miscellaneous expenses

• Post a credit entry in the correct account for purchase of goods

• Ensure proper documentation and approval for the correction

• Review the accounting records to prevent similar errors in the future

ITC can be taken only if the input tax is reflected in GSTR 2A and meets other conditions specified in the GST law.

• ITC can be taken only if the supplier has uploaded the invoice in GSTR 1 and it is reflected in GSTR 2A of the recipient.

• The recipient must ensure that the supplier has paid the tax to the government before claiming ITC.

• ITC can be claimed in the month following the month in which the invoice was uploaded by the supplier.

• If the input tax is not reflected in GSTR 2...read more

The journal entry for purchase of goods involves debiting the inventory account and crediting the accounts payable or cash account.

• Debit the inventory account to record the increase in inventory value

• Credit the accounts payable account if the purchase is on credit

• Credit the cash account if the purchase is made in cash

• Example: Debit Inventory $1,000, Credit Accounts Payable $1,000

Marginal costing is a costing technique where only variable costs are considered in determining the cost of a product or service.

• Marginal costing is also known as variable costing.

• It helps in decision-making by providing information on the impact of producing additional units on profit.

• Marginal cost is the cost of producing one additional unit of a product or service.

• It includes only variable costs such as direct materials, direct labor, and variable overhead.

• Fixed costs are ...read more

The number of thread teeth in a 1 inch pipe depends on the thread pitch and type of threading used.

• The number of thread teeth can vary depending on the thread pitch, which is the distance between each thread.

• Common thread pitches for 1 inch pipes are 11.5, 14, and 11.5 TPI (threads per inch).

• For example, a 1 inch pipe with a 11.5 TPI thread pitch would have 11.5 thread teeth per inch.

TDS stands for Tax Deducted at Source. The TDS rate for consultancy services is 10%.

• TDS stands for Tax Deducted at Source

• The TDS rate for consultancy services is 10%

• Consultancy services are subject to TDS deduction at the rate of 10%

Accrued income and prepaid expenses are recorded in journals to ensure accurate financial reporting.

• Accrued income is income that has been earned but not yet received, recorded as a debit in the income account and a credit in the accrued income account.

• Prepaid expenses are expenses paid in advance, recorded as a debit in the prepaid expenses account and a credit in the cash account.

• Accrued income and prepaid expenses journals help in matching revenues and expenses to the peri...read more

Big size length pipes are available in the market for various industrial applications.

• Big size length pipes are commonly used in industries such as oil and gas, construction, and manufacturing.

• These pipes are typically made of materials like steel, PVC, or HDPE.

• They are available in different diameters and lengths, ranging from a few inches to several feet.

• Big size length pipes are used for transporting fluids, gases, or solids over long distances.

• Examples of big size length ...read more

The market offers a 20 ft pipe for purchase.

• The 20 ft pipe is readily available in the market.

• It is a standard length for pipes commonly used in various applications.

• The length of the pipe can be cut or adjusted as per the specific requirements of the project.

• Other lengths of pipes may also be available in the market depending on the demand and supplier.

• The 20 ft pipe is typically made of materials like steel, PVC, or copper.

Plumbing is the system of pipes, fixtures, and fittings used to distribute water and remove waste from buildings.

• Plumbing involves the installation and maintenance of water supply systems.

• It also includes the installation and repair of fixtures such as sinks, toilets, and showers.

• Plumbers work with various materials like copper, PVC, and steel pipes.

• They use tools like wrenches, pipe cutters, and soldering torches.

• Plumbing systems can be found in residential, commercial, and ...read more

The question is asking about the number of teeth in 1 inch.

• The question is likely related to measuring or sizing of objects.

• It could be referring to a gear or a saw blade.

• The answer depends on the context of the question.

GI stands for Galvanized Iron.

• GI is a type of iron or steel that has been coated with a layer of zinc to prevent corrosion.

• It is commonly used in plumbing and construction for pipes, fittings, and other components.

• GI pipes are known for their durability and resistance to rust and corrosion.

• Examples of GI fittings include elbows, tees, reducers, and flanges.