20+ ZS Interview Questions and Answers

The HSN code for an annual turnover of more than 1.5 cr is required for tax purposes.

• HSN code stands for Harmonized System of Nomenclature code.

• It is a code used to classify goods and services for taxation purposes.

• The specific HSN code for an annual turnover of more than 1.5 cr may vary depending on the nature of the business.

• It is important to consult the relevant tax authorities or seek professional advice to determine the correct HSN code.

The shortcut key for repeat last action in Excel is Ctrl + Y.

• The shortcut key for repeat last action in Excel is Ctrl + Y.

• This shortcut allows you to quickly repeat the last action you performed in Excel.

• For example, if you just formatted a cell and want to apply the same formatting to another cell, you can use Ctrl + Y to repeat the formatting action.

• This shortcut can save time and improve efficiency when working with repetitive tasks in Excel.

The process to consider extension time of contract period involves several steps.

• Review the terms and conditions of the contract

• Identify the reason for the extension request

• Assess the impact of the extension on project timeline and budget

• Negotiate new terms and conditions if necessary

• Obtain approval from all relevant stakeholders

• Amend the contract to reflect the extension

• Communicate the extension to all parties involved

The process to issue shares in a private limited company involves several steps.

• Determine the number of shares to be issued

• Prepare the necessary documents, including the prospectus or offer letter

• Obtain approval from the board of directors and shareholders

• File the necessary forms and documents with the regulatory authorities

• Issue the shares to the subscribers and collect the subscription money

• Update the company's share register and issue share certificates

• Comply with any addi...read more

The maximum number of partners in a business depends on the type of business entity.

• For a sole proprietorship, there can only be one owner.

• For a partnership, the maximum number of partners varies by state and can range from 2 to 100.

• For a limited liability company (LLC), there is no limit on the number of members.

• For a corporation, there is no limit on the number of shareholders.

• The maximum number of partners can also be limited by the business's operating agreement or bylaws...read more

The vendor should be given a clear scope of work, timeline, budget, and any necessary resources.

• Scope of work document

• Timeline with milestones

• Budget allocation

• Necessary resources such as equipment or software

• Communication plan

The process to recover Mobilization advance

• Review the contract to determine the terms of the mobilization advance

• Ensure that the mobilization work has been completed as per the contract

• Submit a request for the recovery of the mobilization advance

• Provide supporting documentation to justify the request

• Negotiate with the client if there are any disputes or issues

• Receive the recovered mobilization advance

The process to consider extra items involves identifying the need, evaluating the impact, obtaining approval, and incorporating into the project plan.

• Identify the need for the extra item

• Evaluate the impact on the project timeline, budget, and resources

• Obtain approval from stakeholders or change control board

• Incorporate the extra item into the project plan and adjust accordingly

Arbitration is a legal process of resolving disputes between parties outside of court.

• Arbitration involves a neutral third party who listens to both sides and makes a decision.

• It is often used in business and commercial disputes.

• Arbitration can be binding or non-binding, depending on the agreement of the parties involved.

• It is typically faster and less expensive than going to court.

• Examples of organizations that offer arbitration services include the American Arbitration Asso...read more

Industrial machines use different types of needles depending on the fabric and stitch type.

• The most common needle types are universal, ballpoint, and sharp needles.

• Universal needles are used for general sewing on woven fabrics.

• Ballpoint needles are used for knit fabrics to prevent snagging or damaging the fabric.

• Sharp needles are used for heavy fabrics like denim or leather.

• Needle size is also important and varies depending on the fabric thickness.

• A smaller needle size is use...read more

GST is Goods and Services Tax, Tally is an accounting software, and Levy Accounting Standards refer to specific regulations for accounting practices.

• GST is a value-added tax levied on most goods and services sold for domestic consumption.

• Tally is a popular accounting software used for recording financial transactions and generating reports.

• Levy Accounting Standards are specific guidelines and regulations that companies must follow when preparing financial statements.

• Examples ...read more

PMC stands for Project Management Consultancy.

• PMC refers to the services provided by a third-party consultant to manage a project on behalf of the client.

• PMC involves planning, organizing, and overseeing the project from start to finish.

• PMC ensures that the project is completed on time, within budget, and meets the client's requirements.

• PMC is commonly used in construction, infrastructure, and engineering projects.

• Examples of PMC companies include AECOM, Bechtel, and Jacobs E...read more

Mobilization advance is an upfront payment made to a contractor to cover initial expenses.

• It is a payment made to a contractor before the start of a project

• It is meant to cover initial expenses such as equipment, materials, and labor

• The amount of mobilization advance is usually a percentage of the total contract value

• It is typically paid back to the client through deductions from future payments

• Example: A construction company may receive a mobilization advance to cover the co...read more

The parties involved in a dispute can appoint an arbitrator.

• Arbitrator can be appointed by mutual agreement of the parties involved in a dispute.

• In some cases, the appointment of an arbitrator may be specified in a contract or agreement.

• If the parties cannot agree on an arbitrator, a court may appoint one.

• The arbitrator must be impartial and independent.

• The arbitrator's decision is binding and enforceable.

The tender process is a formal process of inviting bids from potential suppliers to provide goods or services.

• The process starts with the organization issuing a request for tender (RFT) or request for proposal (RFP).

• Potential suppliers then submit their bids, which are evaluated based on criteria such as price, quality, and delivery time.

• The organization may then shortlist the bidders and invite them to make a presentation or negotiate further.

• Finally, the organization select...read more

Concurrent Sales Audit is a process of auditing sales transactions in real-time to ensure accuracy and prevent fraud.

• Concurrent Sales Audit involves monitoring sales transactions as they occur to detect any discrepancies or irregularities.

• It helps in identifying potential errors, fraud, or theft in sales transactions before they escalate.

• This process can involve using software systems to track sales data in real-time and generate reports for analysis.

• Concurrent Sales Audit is...read more

The industrial machine is a device used in manufacturing and production processes.

• Industrial machines are used in various industries such as automotive, food and beverage, and pharmaceuticals.

• Examples of industrial machines include conveyor belts, assembly lines, and packaging machines.

• These machines are designed to increase efficiency and productivity in manufacturing processes.

• They can be operated manually or through automation.

• Regular maintenance and safety checks are nece...read more

A cost sheet is a document that shows the detailed breakdown of all costs incurred in the production of a product or service.

• Includes direct costs (e.g. raw materials, labor) and indirect costs (e.g. overhead)

• Helps in determining the total cost per unit of production

• Used for cost control and decision-making

• Example: A manufacturing company preparing a cost sheet to analyze the cost of producing a new product

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

• Debit the receiver, Credit the giver: When an asset or expense increases, it is debited. When a liability, equity, or revenue increases, it is credited.

• Debit what comes in, Credit what goes out: Debit the account that receives something and credit the account that gives something.

• Debit expenses and losses...read more

The type of VRV system used in the HVAC system is [insert type here].

• The VRV system used in the HVAC system is [insert type here].

• The type of VRV system used in the HVAC system is important to know for maintenance purposes.

• Examples of VRV systems include Daikin, Mitsubishi, and LG.

• It is important to have knowledge of the specific VRV system in order to troubleshoot and repair any issues that may arise.

NetSuite is a cloud-based business management software suite that includes accounting, enterprise resource planning (ERP), and customer relationship management (CRM) functionalities.

• NetSuite is a cloud-based software suite used for business management.

• It includes accounting, ERP, and CRM functionalities.

• NetSuite helps businesses streamline their operations and improve efficiency.

• It offers real-time visibility into key business metrics and processes.

• NetSuite is often used by s...read more