30+ AXIS SERVICES Interview Questions and Answers

Remove duplicate data in pivot table

• Identify the duplicate data in the pivot table

• Delete or filter out the duplicate data

• Refresh the pivot table to reflect the changes

• Use conditional formatting to highlight duplicate data

• Merge the duplicate data if necessary

Interest on capital is shown as an expense in the profit and loss statement, not in the balance sheet.

• Interest on capital is a cost incurred by a business for using borrowed funds or the capital invested by the owners.

• It is considered as an expense and is deducted from the revenue in the profit and loss statement.

• The balance sheet shows the financial position of a company at a specific point in time and does not include interest on capital.

• Examples of items shown in the balan...read more

Cash flow is the movement of money in and out of a business. Operating, investing, and financing activities affect cash flow.

• Operating activities involve cash inflows and outflows related to the company's core business operations, such as sales and expenses.

• Investing activities involve cash inflows and outflows related to the purchase or sale of long-term assets, such as property or equipment.

• Financing activities involve cash inflows and outflows related to the company's fina...read more

To speak fluently in English, one needs to practice regularly and focus on improving pronunciation, grammar, and vocabulary.

• Practice speaking English regularly with native speakers or language partners

• Listen to English podcasts, news, and movies to improve pronunciation and vocabulary

• Read English books and articles to improve grammar and vocabulary

• Join English speaking clubs or classes to get feedback and guidance

• Don't be afraid to make mistakes and learn from them

• Use online ...read more

Life insurance policies offer various products to cater to different needs.

• Term life insurance

• Whole life insurance

• Universal life insurance

• Variable life insurance

• Endowment policies

• Money-back policies

• Child plans

• Retirement plans

Reserve is set aside for a specific purpose, while provision is set aside for a potential future expense.

• Reserve is a part of profits retained by a company for specific purposes, such as expansion or investment.

• Provision is an amount set aside to cover a potential future expense or liability, such as bad debts or legal claims.

• Reserve is not shown as an expense on the income statement, while provision is deducted as an expense.

• Reserve is a voluntary allocation of profits, whil...read more

Capital is liability because it represents the amount of money that a company owes to its owners or shareholders.

• Capital is the money invested by the owners or shareholders in the company.

• It is considered a liability because the company owes this money to its owners.

• If the company goes bankrupt, the owners or shareholders have the first claim on the assets, but only after all other liabilities have been paid off.

• For example, if a company has $100,000 in capital and $50,000 in...read more

Customer service refers to the assistance and support provided to customers before, during, and after a purchase.

• Customer service involves addressing customer inquiries, concerns, and complaints in a timely and professional manner.

• It includes providing product information, troubleshooting issues, and ensuring customer satisfaction.

• Examples of customer service channels include phone support, live chat, email support, and in-person assistance.

• Good customer service can lead to c...read more

Yes, I am comfortable with rotating night shifts.

• I have previous experience working night shifts and have no issues with adjusting my schedule.

• I understand the importance of flexibility in shift work and am willing to adapt to different schedules.

• I am aware of the potential challenges of working night shifts, such as sleep disruption, and have strategies in place to manage them.

Biotechnology offers diverse career opportunities in research, development, production, quality control, sales, and marketing.

• Career growth in biotechnology can involve moving up the ranks from entry-level positions to management roles.

• Specializing in a specific area of biotechnology, such as genetic engineering or pharmaceuticals, can lead to advanced career opportunities.

• Networking and gaining experience through internships or research projects can help in career advancemen...read more

Audit is a systematic and independent examination of books, accounts, documents, and vouchers of an organization.

• Audit is conducted to ensure accuracy, completeness, and validity of financial statements.

• It helps in identifying errors, frauds, and irregularities in financial transactions.

• Auditors provide an opinion on the financial statements of the organization.

• Types of audits include internal audit, external audit, and forensic audit.

• Examples of audit firms include Deloitte,...read more

Basic excel shortcuts include Ctrl+C for copy, Ctrl+V for paste, Ctrl+X for cut, Ctrl+S for save, and Ctrl+Z for undo.

• Ctrl+C - Copy

• Ctrl+V - Paste

• Ctrl+X - Cut

• Ctrl+S - Save

• Ctrl+Z - Undo

The golden rule of accounting states that debit what comes in and credit what goes out.

• Debit what comes in and credit what goes out

• Assets = Liabilities + Equity

• Helps maintain the balance in financial transactions

Three important statements for a company are: clear mission and vision, strong leadership, and effective communication.

• A clear mission and vision helps employees understand the company's goals and purpose.

• Strong leadership ensures that the company is guided towards success.

• Effective communication fosters collaboration and ensures that everyone is on the same page.

• Example: Apple's mission is to design innovative products that enrich people's lives. This statement guides their ...read more

Yes, I am comfortable with rotational shifts as I understand the nature of the job requires flexibility.

• I am open to working in different shifts to accommodate the needs of the job.

• I understand the importance of being adaptable in a dynamic work environment.

• I have previous experience working in rotational shifts and have successfully managed my schedule.

• I prioritize work-life balance and am willing to adjust my schedule as needed.

Cockroach belongs to the phylum Arthropoda.

• Cockroaches have a hard exoskeleton and jointed legs, which are characteristics of the phylum Arthropoda.

• Other examples of organisms in the phylum Arthropoda include insects, spiders, and crustaceans.

My expected CTC is in line with industry standards and commensurate with my skills and experience.

• I have researched the industry standards for this role and have a realistic expectation

• My expected CTC is based on my skills, experience, and the value I can bring to the company

• I am open to negotiation based on the company's offer and benefits package

Accrual refers to the recognition of revenues and expenses when they are incurred, regardless of when cash is exchanged.

• Accrual accounting matches revenues with expenses in the same accounting period

• It provides a more accurate representation of a company's financial position

• Examples include recognizing revenue when services are provided, even if payment has not been received yet

Yes, I am comfortable with rotational and night shifts.

• I have previous experience working in rotational shifts and night shifts.

• I am adaptable and can easily adjust my schedule to accommodate different shifts.

• I understand the importance of being flexible in a fast-paced work environment.

• I am willing to work any shift required to meet the needs of the job.

Financial terms refer to the vocabulary used in the world of finance and economics.

• Financial terms include words and phrases related to investments, banking, accounting, and more.

• Examples of financial terms include assets, liabilities, interest rates, dividends, and capital gains.

• Understanding financial terms is important for making informed financial decisions and communicating effectively with financial professionals.

KYC stands for Know Your Customer, it is a process used by financial institutions to verify the identity of their clients.

• KYC is a regulatory requirement to prevent money laundering, terrorist financing, and other illegal activities.

• It involves collecting personal information such as name, address, date of birth, and identification documents.

• Financial institutions use KYC to assess the risk of doing business with a particular client.

• KYC also helps in building trust between th...read more

Depreciation is the allocation of the cost of a tangible asset over its useful life.

• Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.

• It is used to spread the cost of an asset over its useful life for accounting and tax purposes.

• Common methods of calculating depreciation include straight-line, double declining balance, and units of production.

• Examples of depreciable assets include buildings, vehicles, machinery, and equipment.

Bigfour companies are the four largest professional services firms in the world.

• Deloitte

• PricewaterhouseCoopers (PwC)

• Ernst & Young (EY)

• KPMG

Fictitious assets are assets that do not have a physical existence or intrinsic value.

• Fictitious assets are intangible assets that appear on a company's balance sheet but do not actually exist in reality.

• Examples of fictitious assets include goodwill, patents, trademarks, and copyrights.

• These assets are created by accounting practices and represent potential future benefits for the company.

• Fictitious assets are not tangible assets like buildings or equipment, but they still h...read more

Current ratio is a financial metric used to evaluate a company's ability to pay off its short-term liabilities with its short-term assets.

• Current ratio is calculated by dividing current assets by current liabilities.

• A current ratio of 1 or higher indicates that a company has enough current assets to cover its current liabilities.

• A current ratio below 1 may indicate financial trouble as the company may not be able to pay off its short-term debts.

• For example, if a company has $...read more

Bank reconciliation is the process of comparing a company's records with those of its bank to ensure they match.

• Bank reconciliation involves comparing the company's internal financial records with the bank statement to identify any discrepancies.

• It helps in ensuring that all transactions are recorded accurately and that the company's financial statements are reliable.

• Common reasons for discrepancies include outstanding checks, deposits in transit, bank fees, and errors in rec...read more

My highest failure was not being able to secure a job after graduation.

• I struggled to find a job after graduation

• I realized I lacked certain skills and experience

• I took steps to improve myself and gain more experience

• Eventually, I was able to secure a job in my desired field

Insurance provides financial protection against specified risks, while assurance guarantees a certain outcome or event will occur.

• Insurance is a contract between the insurer and the insured to provide financial protection against specified risks.

• Assurance is a guarantee that a certain event will occur, such as death or maturity of a policy.

• Insurance is typically for a specified period of time, while assurance is usually for the entire life of the insured.

• Examples of insurance...read more

My strength lies in my ability to effectively prioritize tasks, work efficiently under pressure, and communicate effectively with team members.

• Effective task prioritization

• Efficient work under pressure

• Strong communication skills with team members

P2P cycle refers to the Procure-to-Pay cycle, which involves the process of obtaining goods or services from a supplier to making payment for them.

• The cycle starts with the need for a product or service, followed by identifying a supplier and creating a purchase order.

• Upon receiving the goods or services, the invoice is matched with the purchase order and goods receipt.

• The invoice is then approved for payment and processed for payment to the supplier.

• Finally, the payment is m...read more

Top cloud providers in market are AWS, Microsoft Azure, Google Cloud Platform, IBM Cloud, and Oracle Cloud.

• AWS

• Microsoft Azure

• Google Cloud Platform

• IBM Cloud

• Oracle Cloud

Golden rules in Accounting

• Debit the receiver, credit the giver

• Debit what comes in, credit what goes out

• Debit expenses and losses, credit income and gains

• Maintain consistency in accounting methods

• Record all transactions accurately and timely

We learnt various skills including communication, problem-solving, time management, and attention to detail.

• Communication: We improved our verbal and written communication skills through regular interactions with team members and clients.

• Problem-solving: We developed the ability to analyze complex situations and find effective solutions by brainstorming and collaborating with colleagues.

• Time management: We learned to prioritize tasks, set deadlines, and efficiently manage our...read more

Golden rules of accounting are basic principles that guide the process of recording financial transactions.

• There are three golden rules of accounting: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• For example, when a company receives cash from a customer, the cash account is debited (increased) and the accounts receivable account is credited (decreased).

• Similarly, when a company pays for exp...read more

I have a Bachelor's degree in Business Administration.

• Bachelor's degree in Business Administration

• Graduated from XYZ University in 2018

• Took courses in accounting, marketing, and management

• Completed a capstone project on market research

3 way match is a process used in accounting to ensure that the purchase order, invoice, and receiving report all match.

• Match purchase order to invoice

• Match invoice to receiving report

• Match receiving report to purchase order

• Helps in detecting errors or discrepancies in the purchasing process

• Ensures accurate payment to vendors