PwC Tax Associate Interview Questions, Process, and Tips

Aptitude test comprises 3 section. Quant, accounting & English. Overall level of all the three sections were very basic. In Quant basic questions came from arithmetic portion, accounting we had journal entries, golden rules, all the tax related question like income slabs, five sources of income etc, ,in English questions were from grammar, tenses etc.

Q1. From Basics of accounting and taxation
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Q1. What is the accounting procedure for Bad debts
Ans. 
Bad debts are recorded as an expense in the income statement and as a reduction in accounts receivable in the balance sheet.
• Bad debts are debts that are unlikely to be collected from customers.

• The accounting procedure for bad debts involves estimating the amount of bad debts and recording them as an expense in the income statement.

• The allowance method is commonly used to estimate bad debts.

• Under the allowance method, a...read more
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