SRBC & Co Executive Interview Questions and Answers

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 company's balance sheet.

• It represents the short-term debt that a company owes to its creditors.

• Examples of Accounts Payable include invoices from suppliers for inventory purchases or services rendered.

• Accounts Payable is typically paid within a specified per
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Q2. Explain TDS sec 194j and its limit?
Ans. 
TDS sec 194j is a section of the Income Tax Act that deals with TDS on fees for professional or technical services.
• TDS sec 194j requires deduction of tax at source at the rate of 10% on fees for professional or technical services.

• The limit for TDS under sec 194j is Rs. 30,000 for a single payment or Rs. 1,00,000 in aggregate during the financial year.

• If the payment is made to an individual or HUF, the TDS rate is 10%. ...read more
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Q1. Difference between GSTR-2A and GSTR-2B?
Ans. 
GSTR-2A is auto-populated with data from suppliers, while GSTR-2B is a static statement generated by the taxpayer.
• GSTR-2A is generated by the GST system based on the data uploaded by suppliers.

• GSTR-2B is a static statement generated by the taxpayer after considering amendments, credit notes, etc.

• Taxpayers can make changes to GSTR-2B before filing, but not to GSTR-2A.

• GSTR-2A helps in reconciliation of input tax credit, ...read more
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Excellent Communication Skills, Interpersonal Skills, Leadership Skills, Team Player, Confident, Self-motivated, Dynamic, Disciplined
and Positive thinker.

Q1. Good Knowledge Computer Skills
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Q2. Good Knowledge MS Office, Word, PowerPoint, Excel sheet
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Q3. Good Knowledge Documention Pdf copy and Excel sheet data maintained, Good Knowledge Contract NDA, Addendum Deed of Adherence PO manual created
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Q4. Good Knowledge oracle by PO and PR created
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Q5. Good Knowledge legal compliance and Audit supporting the team lead.
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Q1. Materiality and sa
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Q2. Standards, opinions
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Q1. Ind As 115 vs AS9 Ind as 116 vs Ind as 17 & its Transition provisions Audit done and area of concern
Ans. 
Comparison of Ind AS 115 and AS 9, Ind AS 116 and Ind AS 17 with transition provisions and audit concerns.
• Ind AS 115 and AS 9 are accounting standards related to revenue recognition.

• Ind AS 116 and Ind AS 17 are accounting standards related to leases.

• Transition provisions for Ind AS 116 and Ind AS 17 require retrospective application.

• Audit concerns for these standards include ensuring proper implementation and disclosur
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Q1. Can you brief me through your corporate career
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Q2. Can you briefly tell duties you perform while you are at work
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