Tracks Components Chief Information Officer Interview Questions and Answers

Basic interview questions

Q1. Basic question anout accounts ,economics etc
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Q2. What is accounts
Ans. 
Accounts refer to financial records that track the financial activities of an individual or organization.
• Accounts are used to track income, expenses, assets, and liabilities.

• Examples of accounts include checking accounts, savings accounts, and credit card accounts.

• Accounts are essential for budgeting, financial planning, and tax purposes.
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Q3. 3 golden rules of accounts
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The 3 golden rules of accounts are the fundamental accounting principles that guide the recording of financial transactions.
• 1. Debit what comes in, credit what goes out

• 2. Debit the receiver, credit the giver

• 3. Debit expenses and losses, credit income and gains
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Q4. What is economics
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Economics is the study of how individuals, businesses, and governments allocate resources to satisfy unlimited wants.
• Economics examines how goods and services are produced, distributed, and consumed.

• It analyzes factors such as supply and demand, inflation, unemployment, and economic growth.

• Economics also explores how individuals and societies make decisions about resource allocation.

• Examples include studying the impact...read more
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Q5. Why we should use accounting
Ans. 
Accounting helps in tracking financial transactions, analyzing business performance, and making informed decisions.
• Provides insights into financial health of the organization

• Helps in budgeting and forecasting

• Ensures compliance with regulations and tax laws

• Facilitates decision-making based on financial data

• Helps in evaluating the profitability of products or services
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