Thar Worx Accounts Receivable Executive Interview Questions and Answers

A 30-minute aptitude test.

Q1. Current experience
Add your answer
Q2. Exposure
Add your answer

Q1. How should depreciation and loss on the sale of assets be accounted for?
Ans. 
Depreciation is allocated over the useful life of an asset, while loss on sale of assets is recognized in the period of sale.
• Depreciation is a systematic allocation of the cost of an asset over its useful life to reflect its consumption, wear and tear, or obsolescence.

• Loss on the sale of assets occurs when the selling price of an asset is less than its carrying amount on the balance sheet.

• Depreciation expense is record...read more
Answered by AI
Add your answer
Q2. Divison 7A Loans
Add your answer

Q1. Tell me about yourself
Add your answer
Q2. Tell me about your Work experience
Add your answer

General to overall

Q1. What are your salary expectations?
Add your answer

Q1. Can you tell me about yourself?
Add your answer
Q2. Are you comfortable working night shifts?
Ans. 
Yes, I am comfortable working night shifts as I have prior experience and can adapt to different schedules.
• I have previous experience working night shifts in my previous job.

• I am able to adapt to different schedules and have no issues with working during the night.

• I understand the importance of maintaining accuracy and focus during night shifts.

• I am willing to work night shifts if required to meet deadlines or client n
Answered by AI
Add your answer

Q1. Golden rule of accounting?
Ans. 
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 statements
Answered by AI
Add your answer
Q2. What are the journal entries for purchases?
Ans. 
Journal entries for purchases involve debiting the inventory account and crediting the accounts payable or cash account.
• Debit the inventory account to record the increase in inventory due to the purchase

• Credit the accounts payable account if the purchase was made on credit

• Credit the cash account if the purchase was made with cash

• Example: Debit Inventory $1,000, Credit Accounts Payable $1,000
Answered by AI
Add your answer
Q3. What is the process of bank reconciliation?
Ans. 
Bank reconciliation is the process of comparing the balances in a company's accounting records to the balances on its bank statement.
• Gather bank statements and accounting records

• Compare deposits and withdrawals between the two

• Identify and investigate any discrepancies

• Adjust the accounting records to match the bank statement

• Prepare a bank reconciliation statement to document the process
Answered by AI
Add your answer

Q1. What are your salary expectations?
Add your answer

Q1. Self induction with personal
Add your answer

Q1. Manger asked for work with previous organotin
Add your answer

Q1. About your self
Add your answer
Q2. Process Explanation of previous experience
Add your answer

Q1. Journal Entries
Add your answer
Q2. P2P, Bank Reconciliation, RTR
Add your answer
Q3. Previous Process Explanation
Ans. 
I will explain the previous process I followed in my accounting role.
• I maintained accurate financial records by recording transactions in the general ledger.

• I prepared financial statements such as balance sheets and income statements.

• I reconciled bank statements and ensured all accounts were balanced.

• I communicated with clients and vendors to resolve any discrepancies or issues.

• I followed company policies and procedure
Answered by AI
Add your answer

Q1. Meaning of Rules of accounting
Ans. 
Rules of accounting are guidelines and principles that govern the preparation of financial statements.
• Rules of accounting ensure consistency and accuracy in financial reporting

• They help in standardizing financial statements for comparability

• Examples include the matching principle, revenue recognition principle, and historical cost principle
Answered by AI
Add your answer
Q2. Accounting standard s
Add your answer

Q1. What is accrual
Ans. 
Accrual refers to the recognition of revenue 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 a service is performed, even if payment is not received yet
Answered by AI
Add your answer
Q2. What is golden rules
Ans. 
Golden rules are basic principles of accounting that serve as the foundation for recording financial transactions.
• Golden rules include the principles of Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; and Debit expenses and losses, Credit income and gains.

• These rules help ensure accurate and consistent recording of financial transactions in accounting.

• For example, when a business receiv...read more
Answered by AI
Add your answer
Q3. Prepaid expenses journal entry
Add your answer