Solutions GST Consultant Interview Questions and Answers

Numerical verbal abstracts and logical reasoning questions.

Q1. Can you tell me about yourself? What are your strengths? Where do you see yourself in five years? Why are you interested in this job?
Ans. 
Experienced accountant with strong analytical skills and a passion for financial management. Goal-oriented and dedicated to continuous learning and growth.
• Strengths include attention to detail, problem-solving skills, and proficiency in financial software

• In five years, I see myself as a senior accountant or financial manager, leading a team and contributing to the strategic growth of the organization

• I am interested in ...read more
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Q2. What are your weaknesses?
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One of my weaknesses is that I can be overly critical of my own work.
• I tend to be a perfectionist and can spend too much time on a task to ensure it is flawless

• I sometimes struggle with delegating tasks to others because I want to make sure they are done correctly

• I am working on improving my time management skills to prioritize tasks more effectively
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Q1. Knowledge and skills
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Q2. Confidence and communcation
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Q3. Problem solving skills
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Q1. Accounts related questions? What is the cash application cycle. Cash application cycle is the process of business taking incoming customer payment, Matching them to the corresponding to invoice.It hels to ...read more
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Q2. What is P2P Accounting P2P stands for Procure to Pay is the processing of acquiring goods or services for a business. It's knowns as purchase to pay.
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Q3. What is R2R in Accounting Record to report is the process of financial and accounting that involves processing,collecting and reporting financial data. It helps to ensure that companies financial statement...read more
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Q4. Cash sales journal entry with discount. Cash ac dr To sales
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Q5. What is the 10 concept of Ms excel. Business analyzies People management Managing Operation Performance Reporting Office administration Strategic Analysis Project management Managing Program Contr...read more
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I had applied for the Canada Tax Consultant Role and the first round was the Versant and Aptitude test. First, HR called me for a basic discussion and informed me about the test rounds. The Versant round tested my English speaking, listening, and reading skills. After the Versant round, I took the aptitude test which had three sections - Logical reasoning, Accounting (including journal entries and B.Com related questions), and Excel-related questions.

Q1. Tell me about yourself, and your family
Ans. 
I am a tax consultant with a passion for helping clients navigate complex tax laws. My family is supportive and close-knit.
• I have been working as a tax consultant for the past 5 years

• I specialize in corporate tax planning and compliance

• My family consists of my parents, my spouse, and two children

• We enjoy spending quality time together on weekends
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Q2. Asked about my job roles in my previous company
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Q3. How did you cope with the previous tax season, and how many hours did you work last tax season?
Ans. 
I coped with the previous tax season by managing my time effectively and working long hours when necessary.
• I prioritized tasks and created a schedule to ensure all deadlines were met

• I communicated effectively with clients to gather necessary information in a timely manner

• I worked an average of 60 hours per week during the tax season

• I made sure to take breaks and practice self-care to avoid burnout
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Q4. Why are you leaving your current company
Ans. 
Seeking new opportunities for professional growth and development.
• Looking for new challenges and opportunities to expand my skills

• Interested in exploring different areas of tax consulting

• Seeking a company with better career advancement opportunities
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Q1. Tell me about yourself and your family and also about your friends.
Ans. 
I am a tax consultant with a loving family and a close-knit group of friends.
• I am a tax consultant by profession

• I have a supportive and loving family

• I have a close group of friends who I enjoy spending time with
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Q2. Have you done any extracurricular activities during your college
Ans. 
Yes, I was actively involved in the finance club and volunteered for tax preparation workshops.
• Participated in finance club activities

• Volunteered for tax preparation workshops

• Organized fundraising events for charity

• Attended seminars on tax laws and regulations
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Q3. What is your Hobby?
Ans. 
My hobby is photography. I love capturing moments and exploring different perspectives through my camera lens.
• I enjoy experimenting with different lighting techniques

• I like to explore new locations and find unique angles for my shots

• I often participate in photography contests and exhibitions
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Q1. Explain budgeting
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Q2. Explain forecasting
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Q3. Explain revenue recognition
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Q4. Rent accured ledger entry
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Q5. Why is asset recognised or depreciated in balance sheet
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Q1. Account related
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Q2. GST
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Q3. TDS
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Q1. What is account
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Q2. GSTR-1 AND GSTR 3B
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Q1. What is Accounts payable
Ans. 
Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.
• Accounts payable is a liability on the balance sheet

• It represents the amount of money owed by a company to its suppliers or vendors

• It is typically recorded when goods or services are received but payment has not yet been made

• Accounts payable is an important part of a company's working capital man
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Q2. What is Bank reconcilation statment
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Bank reconciliation statement is a document that compares the bank's records with the company's records to ensure they match.
• It is used to identify any discrepancies between the two sets of records.

• It includes items such as deposits in transit, outstanding checks, bank errors, and service charges.

• The goal is to ensure the accuracy of the company's financial records and the bank's records.

• Once discrepancies are identifi...read more
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Q1. Account payable?
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Q2. Difference between Profit & Revenue
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Q1. What is bad bebt
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Bad debt refers to money owed to a company that is unlikely to be paid by the debtor.
• Bad debt is a financial loss for the company.

• It is usually the result of customers who are unable or unwilling to pay their debts.

• Companies often have to write off bad debts as uncollectible.

• Bad debt can negatively impact a company's financial statements and cash flow.

• Examples include unpaid invoices, defaulted loans, and overdue payme
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Q2. What is accounts
Ans. 
Accounts refer to financial records that track the financial activities of a business or individual.
• Accounts are used to record transactions such as income, expenses, assets, and liabilities.

• They help in analyzing the financial health of an entity and making informed decisions.

• Examples of accounts include cash account, accounts receivable, accounts payable, and equity accounts.
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