10+ Accutest Research Laboratories Interview Questions and Answers

GST and TDS compliance are essential in an AP position to ensure accurate tax reporting and adherence to government regulations.

• Ensuring accurate calculation and timely payment of GST on vendor invoices

• Deducting TDS as per government regulations on payments made to vendors

• Maintaining proper documentation and records for GST and TDS compliance audits

• Reconciling GST and TDS amounts with financial statements for reporting purposes

The process of Accounts Payable involves receiving, verifying, and processing invoices for payment.

• Receiving invoices from vendors

• Verifying the accuracy of invoices against purchase orders and receipts

• Obtaining approval for payment

• Processing payments through the company's accounting system

• Reconciling accounts payable sub-ledger with general ledger

The P2P cycle refers to the process of procuring goods or services from a vendor, receiving and approving the invoice, and making payment.

• The cycle starts with the procurement of goods or services from a vendor.

• Once the goods or services are received, the invoice is generated and sent to the accounts payable department for approval.

• After the invoice is approved, payment is made to the vendor.

• The cycle ends with reconciliation of the payment with the invoice and recording the ...read more

Provisions are made to account for potential future expenses or losses that are uncertain but probable.

• To account for potential future expenses or losses that are uncertain but probable

• To ensure accurate financial reporting

• To comply with accounting standards and regulations

• To prevent understating liabilities or overestimating profits

• To reflect a true and fair view of the company's financial position

• Examples: Provision for bad debts, provision for warranty expenses

The golden rule of accounting states that debit what comes in and credit what goes out.

• Debit what comes in and credit what goes out

• Assets = Liabilities + Equity

• Revenue = Expenses + Net Income

Customers facing issues need clear communication and step-by-step guidance to resolve them.

• Listen actively to understand the issue

• Provide clear instructions or guidance on how to resolve the issue

• Offer support and follow up to ensure the issue is resolved satisfactorily

Reverse osmosis is a process that reduces the total dissolved solids (TDS) in water.

• Reverse osmosis uses a semi-permeable membrane to remove impurities from water.

• The membrane allows water molecules to pass through, but blocks larger molecules like minerals and contaminants.

• As a result, the TDS level in the water is reduced.

• Reverse osmosis is commonly used in water treatment systems to improve water quality.

• TDS levels can be measured using a TDS meter before and after the rev...read more

RO stands for Reverse Osmosis, a water purification technology that removes impurities from water.

• RO is a water purification technology that uses a semi-permeable membrane to remove impurities from water.

• It works by applying pressure to the water, forcing it through the membrane and leaving behind contaminants.

• RO is commonly used in households, industries, and even in desalination plants to produce clean drinking water.

• RO systems require regular maintenance and replacement of...read more

Refrigeration cycle is a process of removing heat from a space or substance and transferring it to another space or substance.

• The cycle involves four main components: compressor, condenser, expansion valve, and evaporator.

• The refrigerant is compressed by the compressor and then condensed in the condenser, releasing heat.

• The high-pressure liquid refrigerant then passes through the expansion valve, where it expands and becomes a low-pressure gas.

• This low-pressure gas then absor...read more

Service parameters are the measurable aspects of a service that determine its quality and effectiveness.

• Service parameters are the specific criteria used to evaluate the performance of a service.

• They can include factors such as response time, customer satisfaction, and service availability.

• Service parameters are often used to set goals and benchmarks for service providers.

• Examples of service parameters include average hold time for customer support calls, percentage of uptime...read more

Our water purifier ensures clean and safe drinking water for you and your family.

• Removes harmful contaminants and bacteria from water

• Easy to install and use

• Saves money compared to buying bottled water

• Long-lasting and durable

• Improves taste and odor of water