Tata Teleservices Account Assistant Interview Questions and Answers

Q1. What do you mean by leases
Ans. 
Leases refer to agreements where one party allows another party to use an asset in exchange for periodic payments.
• Leases involve a lessor (owner of the asset) and a lessee (user of the asset).

• There are two main types of leases: operating leases and finance leases.

• Operating leases are typically short-term and do not transfer ownership of the asset.

• Finance leases are long-term and transfer most of the risks and rewards o...read more
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Q2. What do you meant by financial and operating lease
Ans. 
Financial lease is a long-term lease where the lessee has ownership benefits, while operating lease is a short-term lease where the lessor retains ownership.
• Financial lease is a type of lease where the lessee has the benefits and risks of ownership, typically for the majority of the asset's useful life.

• Operating lease is a type of lease where the lessor retains ownership of the asset and the lessee uses it for a shorte...read more
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Q1. What is capitalization of asset What is lease accounting under ind as Explain depreciation and amortization Golden rules of accounting
Ans. 
Capitalization of asset, lease accounting under IND AS, depreciation and amortization, and golden rules of accounting.
• Capitalization of asset refers to the process of recording an expenditure as an asset rather than an expense.

• Lease accounting under IND AS requires lessees to recognize lease assets and liabilities on their balance sheets.

• Depreciation is the systematic allocation of the cost of a tangible asset over its...read more
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Communication Englisha

Q1. Iwhat is the question I don't know
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Q2. I should i answer I also don'nt know
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Q1. I have not any question
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Q2. Than you will not get any answer
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Q1. Normal standered and GST related questions
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Q2. How to reconcile 3b
Ans. 
Reconciling 3b involves comparing financial records to ensure accuracy and consistency.
• Review all transactions related to 3b in the financial statements

• Check for any discrepancies or errors in the records

• Ensure that all entries are properly classified and accounted for

• Compare the 3b balance to supporting documentation or previous periods for consistency
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Q3. How to reconcile returns
Ans. 
Returns reconciliation involves comparing sales records with returned items to ensure accuracy.
• Compare sales records with return records to identify discrepancies

• Investigate reasons for returns and ensure proper documentation

• Adjust inventory and financial records accordingly

• Communicate with customers and vendors to resolve any issues

• Use accounting software to streamline the reconciliation process
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Q4. Account principle
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Q5. Other normal slandered related question
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Sql test based on knowledge general and matha communication

Q1. About your self
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Q2. Previous experience
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Q1. Salary discussion
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Q2. Privevious experience
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Q1. What are your strengths and weaknesses
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Q2. How do you tackle contingent liability
Ans. 
Contingent liabilities are potential liabilities that may arise in the future, such as lawsuits or warranties.
• Identify and assess the likelihood of the contingent liability occurring

• Estimate the potential financial impact of the liability

• Disclose the contingent liability in the financial statements

• Monitor and reassess the liability regularly
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Q1. Where do you see 5 years from know
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Q2. What leadership qualities do you hold
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Not tough for any experienced employee .

Q1. What is COCP , IOIP,COIP
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