Universal Education Group IT Executive Interview Questions and Answers

Q1. Introduce yourself and your work profile
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Q2. How you reconcile bank statements ?
Ans. 
I reconcile bank statements by comparing the transactions on the statement with my records.
• Obtain the bank statement and compare it with your records

• Check for any discrepancies or errors

• Adjust your records accordingly

• Ensure that the ending balance on the statement matches your records

• Document the reconciliation process for future reference
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Q3. What you now about TDS ?
Ans. 
TDS stands for Tax Deducted at Source, which is a tax collection mechanism in India.
• TDS is a tax collection mechanism in India where the payer deducts a certain percentage of tax from the payment made to the payee.

• The deducted tax is then deposited with the government on behalf of the payee.

• TDS is applicable to various types of payments such as salary, rent, commission, interest, etc.

• The rate of TDS varies depending on...read more
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Q4. ESI and epf return related questions
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Q1. Tell me about your self ?
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Q2. What is your current job role ?
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Q1. Tell me little your introduction
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Q2. Why should hire you Company
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Q3. What is the balance sheet
Ans. 
The balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time.
• It provides a snapshot of a company's financial position

• Assets are listed first, followed by liabilities and equity

• The equation Assets = Liabilities + Equity must always balance

• It is used by investors, creditors, and management to assess a company's financial health
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Q4. What is the bank reconciliation statement
Ans. 
Bank reconciliation statement is a document that compares the bank statement with the company's records.
• It helps to identify any discrepancies between the two records.

• It includes items such as deposits in transit, outstanding checks, and bank errors.

• The goal is to ensure that the company's records match the bank's records.

• It is an important tool for detecting fraud or errors in accounting.

• Example: If a company records ...read more
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Q5. What is the GST and component
Ans. 
GST stands for Goods and Services Tax, a value-added tax levied on the supply of goods and services in India.
• GST is a comprehensive indirect tax that replaced multiple indirect taxes in India.

• It is levied on the value addition at each stage of production or distribution.

• There are four components of GST: CGST, SGST, IGST, and UTGST.

• CGST and SGST are levied by the central and state governments, respectively, on intra-sta...read more
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Q6. What is a TDS and who is liable
Ans. 
TDS stands for Tax Deducted at Source. It is a tax collection mechanism in India.
• TDS is a system where tax is deducted at the source of income itself.

• It is applicable to various types of income such as salary, interest, commission, rent, etc.

• The person who is making the payment is liable to deduct TDS and deposit it with the government.

• The rate of TDS varies depending on the type of income and the amount being paid.

• The...read more
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Q7. What is account receivable and account payable
Ans. 
Accounts receivable is money owed to a company by its customers, while accounts payable is money a company owes to its suppliers.
• Accounts receivable is an asset on a company's balance sheet

• Accounts payable is a liability on a company's balance sheet

• Accounts receivable represents sales that have been made but not yet collected

• Accounts payable represents purchases that have been made but not yet paid for

• Examples of accou...read more
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Q8. What is the life goals
Ans. 
My life goal is to continuously learn, grow, and make a positive impact on the world.
• To continuously learn and grow in my personal and professional life

• To make a positive impact on the world through my work and actions

• To build meaningful relationships with family, friends, and colleagues

• To achieve financial stability and security

• To travel and experience different cultures

• To maintain a healthy and active lifestyle
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Q9. What is a depreciation
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Depreciation is the decrease in value of an asset over time due to wear and tear, obsolescence or other factors.
• Depreciation is a non-cash expense that reduces the value of an asset on the balance sheet

• It is calculated based on the useful life of the asset and the method of depreciation chosen

• Examples of assets that are subject to depreciation include buildings, vehicles, and machinery
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Q10. What is the bookkeeping and accountancy
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Bookkeeping is the recording of financial transactions, while accountancy involves analyzing and interpreting financial data.
• Bookkeeping involves recording financial transactions such as sales, purchases, and payments.

• Accountancy involves analyzing and interpreting financial data to provide insights and make informed decisions.

• Bookkeeping is the foundation of accountancy, providing the data needed for analysis and inte...read more
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Q11. And tell me your family background
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Q1. General question
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Written exam on basic and advance level

Q1. Will ask techical question about work profile
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Writing assignment; fairly easy