Hiralal Industrial Technologies Assistant Manager Finance & Accounts Interview Questions and Answers

US corporation taxation process involves filing tax returns and paying taxes to the Internal Revenue Service (IRS).

• US corporations must file their tax returns using Form 1120

• The tax rate for corporations is a flat 21%

• Corporations may also be subject to state and local taxes

• Tax payments are typically made quarterly throughout the year

• Corporations may also need to file other forms such as Form 5471 for foreign subsidiari...read more

Deferred tax liability is a balance sheet item representing taxes that will be paid in the future due to temporary differences in accounting and tax rules.

• Deferred tax liability arises when a company's taxable income is greater than its accounting income, resulting in taxes being paid in the future.

• It is calculated by multiplying the temporary difference between taxable income and accounting income by the tax rate.

• Exam...read more

A swap is a financial agreement between two parties to exchange cash flows or other financial instruments.

• A swap involves two parties exchanging cash flows or other financial instruments based on a predetermined set of terms.

• Common types of swaps include interest rate swaps, currency swaps, and commodity swaps.

• The dividend growth model is a method used to value a company's stock based on the expected future dividends i...read more