Special Tools Interview Questions and Answers

TDS stands for Tax Deducted at Source. It is a tax collected by the government at the time of payment.

• TDS is a tax collected by the government at the time of payment.

• It is deducted from the income of the recipient.

• The person making the payment is responsible for deducting TDS and depositing it with the government.

• TDS is applicable on various types of payments such as salary, rent, commission, etc.

• The rate of TDS varies...read more

Aarushi return is not a commonly known term. It is unclear what it refers to.

• There is no clear definition or explanation of Aarushi return.

• It is possible that the term is specific to a certain industry or company.

• Without more context, it is difficult to provide a meaningful answer.

Journal entry is a record of a financial transaction entered into a company's accounting system.

• It includes the date of the transaction, the accounts involved, and the amount of the transaction.

• Journal entries are used to create the general ledger, which is the foundation of a company's financial statements.

• There are two types of journal entries: debit and credit.

• Debit entries increase assets and decrease liabilities, ...read more

Bank reconciliation is the process of comparing and matching the balance in an organization's bank statement with its own accounting records.

• Bank reconciliation helps to identify any discrepancies between the two records.

• It involves checking for errors, omissions, and timing differences.

• Bank reconciliation ensures that the organization's financial records are accurate and up-to-date.

• Examples of items that may cause dis...read more