Kumbakonam Mutual Benefit Fund Nidhi CA fresher Interview Questions, Process, and Tips

Owner's capital refers to the total amount of money invested by the owner(s) into a business.

• Owner's capital represents the owner's equity in the business.

• It includes the initial investment made by the owner(s) as well as any additional investments made over time.

• Owner's capital can also be affected by profits or losses generated by the business.

• It is reported on the balance sheet under the equity section.

• Example: If t...read more

IOB Bank stands for Indian Overseas Bank, a major public sector bank in India.

• Indian Overseas Bank (IOB) is a public sector bank headquartered in Chennai, India.

• It was founded in 1937 and nationalized in 1969.

• IOB offers a wide range of banking products and services including loans, deposits, and online banking.

• The bank has branches in India as well as overseas locations.

• IOB is known for its strong presence in South Ind...read more

Sales tax deposit is a payment made by a business to the government for the sales tax collected from customers.

• Sales tax deposit is a mandatory payment made by businesses to the government on a regular basis.

• It is calculated based on the sales tax collected from customers during a specific period.

• The purpose of the sales tax deposit is to ensure that businesses do not use the collected sales tax for their own purposes.

• ...read more

Interest received refers to the income earned by an individual or entity from investments or deposits.

• Interest received is typically earned on savings accounts, fixed deposits, bonds, or other investments.

• It is calculated as a percentage of the principal amount and is paid by the borrower or issuer of the investment.

• For example, if you have a savings account with a 2% interest rate and $1,000 in the account, you would

Telephone deposit is a payment made over the phone to secure a reservation or service.

• Telephone deposit is a form of prepayment made over the phone.

• It is commonly used to secure hotel reservations, event bookings, or service appointments.

• The deposit amount is usually a percentage of the total cost and is non-refundable in case of cancellation.

• Customers may provide credit card information or make a bank transfer to comp...read more