INCA INFOTECH TECHNOLOGIES Accountant Interview Questions and Answers

Numerical verbal abstracts and logical reasoning questions.

Q1. Can you tell me about yourself? What are your strengths? Where do you see yourself in five years? Why are you interested in this job?
Ans. 
Experienced accountant with strong analytical skills and a passion for financial management. Goal-oriented and dedicated to continuous learning and growth.
• Strengths include attention to detail, problem-solving skills, and proficiency in financial software

• In five years, I see myself as a senior accountant or financial manager, leading a team and contributing to the strategic growth of the organization

• I am interested in ...read more
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Q2. What are your weaknesses?
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One of my weaknesses is that I can be overly critical of my own work.
• I tend to be a perfectionist and can spend too much time on a task to ensure it is flawless

• I sometimes struggle with delegating tasks to others because I want to make sure they are done correctly

• I am working on improving my time management skills to prioritize tasks more effectively
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Q1. Knowledge and skills
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Q2. Confidence and communcation
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Q3. Problem solving skills
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Q1. Account related
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Q2. GST
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Q3. TDS
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Q1. What is account
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Q2. GSTR-1 AND GSTR 3B
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Q1. What is bad bebt
Ans. 
Bad debt refers to money owed to a company that is unlikely to be paid by the debtor.
• Bad debt is a financial loss for the company.

• It is usually the result of customers who are unable or unwilling to pay their debts.

• Companies often have to write off bad debts as uncollectible.

• Bad debt can negatively impact a company's financial statements and cash flow.

• Examples include unpaid invoices, defaulted loans, and overdue payme
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Q2. What is accounts
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Accounts refer to financial records that track the financial activities of a business or individual.
• Accounts are used to record transactions such as income, expenses, assets, and liabilities.

• They help in analyzing the financial health of an entity and making informed decisions.

• Examples of accounts include cash account, accounts receivable, accounts payable, and equity accounts.
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Position or post calling for specified duties to which an employee is assigned for a definite or indefinite period of time but which has not been designated as a work classification.

Q1. What is tha accounts?
Ans. 
Accounts refer to the records of financial transactions of a business or organization.
• Accounts are used to track income, expenses, assets, and liabilities.

• They help in analyzing the financial health of a company.

• Examples of accounts include cash, accounts receivable, inventory, and accounts payable.
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Q2. What is tha payable and receivable
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Payable and receivable refer to amounts owed by a company (payable) and amounts owed to a company (receivable).
• Payable refers to money owed by a company to its suppliers or vendors

• Receivable refers to money owed to a company by its customers or clients

• Payable and receivable are recorded on a company's balance sheet

• Examples: Accounts payable, accounts receivable
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Q3. What is TDS ?
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TDS stands for Tax Deducted at Source, which is a system where tax is deducted by the payer at the time of making payment.
• TDS is a form of advance tax which ensures that the government receives tax revenue in advance.

• It is applicable to various payments such as salary, interest, commission, rent, etc.

• The deducted TDS amount is then deposited with the government on behalf of the recipient.

• TDS rates vary depending on the...read more
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Q4. What is tally used for ?
Ans. 
Tally is a software used for accounting and financial management.
• Tally is used for recording financial transactions.

• It helps in managing accounts, generating reports, and analyzing data.

• Tally is commonly used by businesses for bookkeeping and tax compliance.

• It can also be used for inventory management and payroll processing.
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Q5. What is tally skills?
Ans. 
Tally skills refer to proficiency in using Tally software for accounting purposes.
• Tally skills involve knowledge of creating and managing accounts, generating financial reports, and performing audits.

• Proficiency in data entry, reconciliation, and inventory management using Tally is essential.

• Examples of Tally skills include creating ledgers, recording transactions, and generating balance sheets.

• Knowledge of shortcuts a...read more
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Q1. Self introduction
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Q2. Why do you left your previous company
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Q1. How many types of financial statements
Ans. 
There are three main types of financial statements: balance sheet, income statement, and cash flow statement.
• Balance sheet shows a company's assets, liabilities, and shareholders' equity at a specific point in time.

• Income statement shows a company's revenues, expenses, and profits over a period of time.

• Cash flow statement shows how changes in balance sheet and income statement affect cash and cash equivalents.
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Q2. Difference between trial balance and balance sheet
Ans. 
Trial balance is a list of all ledger accounts with their closing balances, while balance sheet is a financial statement showing assets, liabilities, and equity at a specific point in time.
• Trial balance is an internal document used to ensure the debits and credits are equal before preparing financial statements.

• Balance sheet is a financial statement that shows the company's financial position at a specific point in tim...read more
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Q1. Journal entry for prepaid expenses
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Journal entry for prepaid expenses involves debiting an asset account and crediting a prepaid expense account.
• Prepaid expenses are expenses paid in advance but not yet incurred.

• To record prepaid expenses, debit the Prepaid Expense account and credit the Cash/Bank account.

• As the prepaid expense is incurred, it is transferred from the Prepaid Expense account to the Expense account.

• Example: Payment of insurance premium in...read more
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Q2. Journal entry for purchase return
Ans. 
Journal entry for purchase return involves debiting accounts payable and crediting inventory account.
• Debit accounts payable to reduce liability

• Credit inventory account to reduce inventory on hand

• Example: Debit Accounts Payable $500, Credit Inventory $500
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Q1. Journal entry for prepaid expenses
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Journal entry for prepaid expenses involves debiting Prepaid Expense account and crediting Cash or Bank account.
• Debit Prepaid Expense account to record the expense paid in advance

• Credit Cash or Bank account to show the decrease in cash due to prepayment

• Prepaid expenses are considered assets until they are used up or expire

• Example: Journal entry for prepaid rent - Debit Prepaid Rent, Credit Cash/Bank
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Q2. What is bank reconciliation
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Bank reconciliation is the process of comparing a company's records with those of its bank to ensure they match.
• Bank reconciliation involves comparing the company's records of its financial transactions with the bank's records.

• It helps identify any discrepancies such as missing transactions, errors, or fraudulent activity.

• The process involves adjusting the company's records to match the bank's records by reconciling an...read more
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Q1. About your self
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Q2. Your highest study
Ans. 
Bachelor's degree in Accounting from XYZ University
• Graduated with honors

• Completed coursework in financial accounting, managerial accounting, auditing, and taxation

• Participated in internship at a local accounting firm

• Completed a senior thesis on the impact of tax reform on small businesses
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Q3. Why you working in tcs company
Ans. 
TCS company in my lively company and this company is top company I work to top company in my life
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Q4. Experience and how many company experience in how year
Ans. 
3 company in 2 year experience in auto mobile company
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Q5. Family back ground asked
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Father is farmer and mother house wife
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