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Modern Emergency Services Internal Auditor/ Internal Controls Interview Questions and Answers
12 Interview questions
There are five golden rules of accounting.
The first rule is to maintain a record of all financial transactions.
The second rule is to record transactions in the appropriate account.
The third rule is to ensure that all transactions are recorded at their actual cost.
The fourth rule is to record all transactions in the currency of the country where the transaction occurred.
The fifth rule is to prepare a balance sheet ...
Capital in business refers to the financial resources used to start and operate a business.
Capital can come from various sources such as investors, loans, or personal savings.
It is used to purchase assets, pay for expenses, and invest in growth opportunities.
Capital is essential for businesses to operate and expand.
Examples of capital include cash, equipment, buildings, and inventory.
Effective management of capita...
Book-keeping is the process of recording financial transactions and maintaining financial records.
It involves recording all financial transactions of a business.
It includes maintaining records of purchases, sales, receipts, and payments.
Book-keeping helps in preparing financial statements and tax returns.
It is important for businesses to maintain accurate and up-to-date book-keeping records.
Examples of book-keepin...
Direct expenses are directly related to production while indirect expenses are not. They impact P&L account differently.
Direct expenses are costs that are directly related to the production of goods or services, such as raw materials, labor, and manufacturing overhead.
Indirect expenses are costs that are not directly related to production, such as rent, utilities, and office supplies.
Direct expenses are included i...
Separate Entity system is a concept in accounting where a business is treated as a distinct entity from its owners.
Separate Entity system is also known as Entity Theory.
It means that the business is considered a separate legal entity from its owners.
The business has its own assets, liabilities, and equity, which are separate from those of the owners.
This concept is important in accounting as it helps to ensure tha...
There is no shortcut key to shut any company in Tally ERP.
There is no specific shortcut key to shut any company in Tally ERP.
To shut down a company in Tally ERP, you need to follow a series of steps.
You can use the 'Close Company' option in the Gateway of Tally to shut down a company.
Alternatively, you can use the shortcut key 'Alt+F1' to access the 'Close Company' option.
After selecting the 'Close Company' option...
Expenses budget is a financial plan that outlines the expected costs of a business or individual over a specific period.
It is a projection of expected expenses for a specific period
It helps in managing cash flow and avoiding overspending
It can be used to identify areas where expenses can be reduced
Examples include rent, utilities, salaries, and supplies
The due date of TDS Challan payments varies depending on the type of payment and the month of payment.
The due date for TDS payments made in April is May 7th.
The due date for TDS payments made in May is June 7th.
The due date for TDS payments made in June is July 7th.
The due date for TDS payments made in March is April 30th.
The due date for TDS payments made in September is October 7th.
The due date for TDS payments ...
There are 4 types of GSTR in India.
GSTR-1: Outward supplies made by the taxpayer
GSTR-2: Inward supplies received by the taxpayer
GSTR-3: Monthly return based on GSTR-1 and GSTR-2
GSTR-9: Annual return
Real accounts are accounts that represent assets, liabilities, and equity.
Real accounts are permanent accounts that are not closed at the end of an accounting period.
Examples of real accounts include cash, accounts receivable, accounts payable, inventory, and property, plant, and equipment.
Real accounts are also known as balance sheet accounts.
They are called real accounts because they represent real things that e...
Modern Emergency Services Internal Auditor/ Internal Controls Interview Experiences
1 interview found
Anonymous
Interview Questionnaire
12 Questions
- Q1. 1.How many golden Rules for Accounting.
- Ans.
There are five golden rules of accounting.
The first rule is to maintain a record of all financial transactions.
The second rule is to record transactions in the appropriate account.
The third rule is to ensure that all transactions are recorded at their actual cost.
The fourth rule is to record all transactions in the currency of the country where the transaction occurred.
The fifth rule is to prepare a balance sheet and i...
- Q2. What is expenses budget?
- Ans.
Expenses budget is a financial plan that outlines the expected costs of a business or individual over a specific period.
It is a projection of expected expenses for a specific period
It helps in managing cash flow and avoiding overspending
It can be used to identify areas where expenses can be reduced
Examples include rent, utilities, salaries, and supplies
- Q3. What is the example of real accounts?
- Ans.
Real accounts are accounts that represent assets, liabilities, and equity.
Real accounts are permanent accounts that are not closed at the end of an accounting period.
Examples of real accounts include cash, accounts receivable, accounts payable, inventory, and property, plant, and equipment.
Real accounts are also known as balance sheet accounts.
They are called real accounts because they represent real things that exist ...
- Q4. How many types of GSTR?
- Ans.
There are 4 types of GSTR in India.
GSTR-1: Outward supplies made by the taxpayer
GSTR-2: Inward supplies received by the taxpayer
GSTR-3: Monthly return based on GSTR-1 and GSTR-2
GSTR-9: Annual return
- Q5. What is due date of TDS Challan payments?
- Ans.
The due date of TDS Challan payments varies depending on the type of payment and the month of payment.
The due date for TDS payments made in April is May 7th.
The due date for TDS payments made in May is June 7th.
The due date for TDS payments made in June is July 7th.
The due date for TDS payments made in March is April 30th.
The due date for TDS payments made in September is October 7th.
The due date for TDS payments made ...
- Q6. What you mean by capital in business?
- Ans.
Capital in business refers to the financial resources used to start and operate a business.
Capital can come from various sources such as investors, loans, or personal savings.
It is used to purchase assets, pay for expenses, and invest in growth opportunities.
Capital is essential for businesses to operate and expand.
Examples of capital include cash, equipment, buildings, and inventory.
Effective management of capital is ...
- Q7. What is Separate Entity system ?
- Ans.
Separate Entity system is a concept in accounting where a business is treated as a distinct entity from its owners.
Separate Entity system is also known as Entity Theory.
It means that the business is considered a separate legal entity from its owners.
The business has its own assets, liabilities, and equity, which are separate from those of the owners.
This concept is important in accounting as it helps to ensure that the...
- Q8. What is Direct expenses and Indirect expenses and their impact on P&L Account ?
- Ans.
Direct expenses are directly related to production while indirect expenses are not. They impact P&L account differently.
Direct expenses are costs that are directly related to the production of goods or services, such as raw materials, labor, and manufacturing overhead.
Indirect expenses are costs that are not directly related to production, such as rent, utilities, and office supplies.
Direct expenses are included in the...
- Q9. What's the shortcut key of repeat an accounting entry in Tally ERP software?
- Ans.
The shortcut key to repeat an accounting entry in Tally ERP software is Ctrl+R.
The shortcut key Ctrl+R allows users to quickly repeat the last accounting entry made in Tally ERP software.
This feature is useful when multiple entries need to be made with similar details, saving time and effort.
For example, if a user has entered a sales transaction and wants to repeat the same entry for another customer, they can simply p...
- Q10. What's book-keeping?
- Ans.
Book-keeping is the process of recording financial transactions and maintaining financial records.
It involves recording all financial transactions of a business.
It includes maintaining records of purchases, sales, receipts, and payments.
Book-keeping helps in preparing financial statements and tax returns.
It is important for businesses to maintain accurate and up-to-date book-keeping records.
Examples of book-keeping sof...
- Q11. What is the shortcut key to copy and paste narration in Tally ERP ?
- Ans.
The shortcut key to copy and paste narration in Tally ERP is Ctrl+Alt+C and Ctrl+Alt+V respectively.
The shortcut key for copying narration in Tally ERP is Ctrl+Alt+C.
The shortcut key for pasting narration in Tally ERP is Ctrl+Alt+V.
These shortcuts can be used to quickly copy and paste narration while working in Tally ERP.
For example, if you want to copy a narration from one entry and paste it into another, you can use ...
- Q12. What is shortcut key to shut any company in Tally ERP
- Ans.
There is no shortcut key to shut any company in Tally ERP.
There is no specific shortcut key to shut any company in Tally ERP.
To shut down a company in Tally ERP, you need to follow a series of steps.
You can use the 'Close Company' option in the Gateway of Tally to shut down a company.
Alternatively, you can use the shortcut key 'Alt+F1' to access the 'Close Company' option.
After selecting the 'Close Company' option, you...
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- Q1. After 5 year in which position you will be
- Ans.
In five years, I envision myself as a senior analyst, leading projects and mentoring junior team members while driving impactful data-driven decisions.
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- Ans.
To debug a particular program without affecting others, use breakpoints and step through the code.
Set a breakpoint in the program you want to debug
Step through the code using a debugger to identify the issue
Use logging statements to track the flow of the program
Check the call stack to see which functions are being called
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- Q1. What are the differences between C and C++?
- Q2. Explain the scenarios where If and Switch Case statements are used.
- Ans.
If and Switch Case statements are used for conditional branching in programming.
If statements are used for simple conditional branching.
Switch Case statements are used for multiple conditional branching.
If statements are more flexible than Switch Case statements.
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Yes, algorithms and pseudocodes are still important in IT Services.
Algorithms are used in various fields of IT such as machine learning, data analysis, and cryptography.
Pseudocodes are used to plan and design algorithms before coding them.
Understanding algorithms and pseudocodes is essential for software engineers to write efficient and optimized code.
Examples of algorithms include sorting algorithms, search algorithms...
- Q4. Are you comfortable using Command Line Interfaces (CLIs) or Integrated Development Environments (IDEs) as part of your daily tasks?
- Ans.
Yes, I am comfortable using both CLIs and IDEs for my daily tasks.
I have experience using various CLIs such as Git Bash, Windows Command Prompt, and Terminal on macOS.
I am proficient in using IDEs such as Visual Studio Code, Eclipse, and IntelliJ IDEA.
I understand the benefits and drawbacks of both CLIs and IDEs and can choose the appropriate tool for the task at hand.
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Modern Emergency Services Interview FAQs
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