Ryan Tax Assistant Interview Questions and Answers

Q1. Golden rules of accounting
Ans. 
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The three golden rules of accounting are: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a compa...read more
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Q2. Journal entry in basic
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A journal entry is a record of a financial transaction in a company's accounting system.
• Journal entries consist of a debit and credit entry to different accounts

• Debits are recorded on the left side and credits on the right side

• The total debits must equal the total credits in a journal entry
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Basic accounting problems and concepts with simple logical reasoning questions.

Q1. If the clients annual income is Rs. 1400000 what is their tax liability?
Ans. 
Tax liability for a client with an annual income of Rs. 1400000.
• Calculate the tax liability based on the income tax slabs applicable in the country.

• Consider any deductions or exemptions that the client may be eligible for.

• Consult a tax professional or use an online tax calculator for accurate results.
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Test of 30 minutes of the field you choice proper paper no mcq

Q1. Basics of tax explain from basic
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Q1. Every tds sextion and rate you know
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Q1. Basic accounting
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US Tax Related Question

Q1. Accounting definitions
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Q2. Principles of Accounting & Some journal entries
Ans. 
Understanding principles of accounting and journal entries is essential for a Tax Associate role.
• Principles of accounting include matching principle, revenue recognition principle, and cost principle

• Journal entries are used to record financial transactions in the accounting system

• Examples of journal entries include recording revenue, expenses, and asset purchases
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Q3. Self introducing
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Q1. Salary discussion
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Q2. Self introduction
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Q1. Tell me about yourself?
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I am a dedicated and hardworking individual with a passion for learning and growth.
• Graduate in Accounting from XYZ University

• Completed internship at ABC Accounting Firm

• Proficient in MS Excel and QuickBooks

• Strong analytical and problem-solving skills

• Excellent communication and teamwork abilities
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Q2. Why you want to join in Statutory audit?
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Q1. Basic Knowledge of Forms
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Q2. Federal and state taxes
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