Lokmanya Multipurpose Co-op Society Account Assistant Interview Questions and Answers

Q1. Tell About yourself, tell about your home town
Ans. 
I am an Account Assistant with a passion for numbers and financial analysis. I come from a small town called XYZ, known for its rich cultural heritage and scenic beauty.
• XYZ is a picturesque town located in the foothills of the mountains.

• The town is famous for its annual cultural festival, where people from all over the region come to showcase their traditional dances and music.

• One of the main attractions in XYZ is the ...read more
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Q2. Tell about your family background
Ans. 
My family background is diverse and supportive.
• My parents are both professionals, my father is a lawyer and my mother is a doctor.

• I have two siblings, an older brother who is an engineer and a younger sister who is studying business.

• We have always been a close-knit family and support each other in our endeavors.

• Growing up, my parents instilled in us the values of hard work, integrity, and perseverance.

• Our family gather...read more
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Q1. Base accounts, golden rules of accounts, Journal enteries
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Basic questions are asked

Q1. Tell me about yourself
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Q1. Gives us your Introduction
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Q2. What is your family background
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Basic Aptitude Questions.

Q1. Questions about R2R
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Q2. Entry for Sale of Asset.
Ans. 
The entry for the sale of an asset involves recording the sale price, removing the asset's cost and accumulated depreciation from the books, and recognizing any gain or loss.
• Debit the Cash or Accounts Receivable account for the sale price of the asset

• Credit the Asset account to remove the cost of the asset

• Credit the Accumulated Depreciation account to remove the accumulated depreciation

• Recognize any gain or loss by deb...read more
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Q3. Same entry with Profit and Loss.
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Q4. What is W9 form and limit to issue.
Ans. 
W9 form is a tax form used by businesses to collect information from independent contractors or freelancers. There is no limit to the number of W9 forms that can be issued.
• W9 form is used to collect information such as the contractor's name, address, and taxpayer identification number (TIN).

• Businesses use W9 forms to report payments made to independent contractors to the IRS.

• There is no limit to the number of W9 forms ...read more
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Q5. Entry for Deferred Revenue?
Ans. 
Deferred revenue is revenue received in advance for goods or services that have not yet been provided.
• Deferred revenue is recorded as a liability on the balance sheet until the goods or services are delivered.

• The entry for deferred revenue involves debiting cash or accounts receivable and crediting deferred revenue.

• Once the goods or services are provided, the deferred revenue is recognized as revenue on the income stat...read more
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Q1. Tell About yourself, tell about your home town
Ans. 
I am an Account Assistant with a passion for numbers and financial analysis. I come from a small town called XYZ, known for its rich cultural heritage and scenic beauty.
• XYZ is a picturesque town located in the foothills of the mountains.

• The town is famous for its annual cultural festival, where people from all over the region come to showcase their traditional dances and music.

• One of the main attractions in XYZ is the ...read more
Answered by AI
Add your answer
Q2. Tell about your family background
Ans. 
My family background is diverse and supportive.
• My parents are both professionals, my father is a lawyer and my mother is a doctor.

• I have two siblings, an older brother who is an engineer and a younger sister who is studying business.

• We have always been a close-knit family and support each other in our endeavors.

• Growing up, my parents instilled in us the values of hard work, integrity, and perseverance.

• Our family gather...read more
Answered by AI
Add your answer

Q1. Base accounts, golden rules of accounts, Journal enteries
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Q1. What is your name
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Q2. Where do you stay
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