Valuestream Business Solutions CA fresher Interview Questions and Answers

Q1. What type account
Ans. 
The type of account refers to the classification of accounts based on their nature and purpose.
• There are five main types of accounts: assets, liabilities, equity, revenue, and expenses.

• Assets are resources owned by the company, such as cash, inventory, and equipment.

• Liabilities are obligations owed by the company, such as loans and accounts payable.

• Equity represents the owner's stake in the business.

• Revenue is the inco...read more
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Q2. What is bank reconciliation
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Bank reconciliation is the process of comparing and matching the balances in a company's accounting records with the balances on its bank statement.
• Bank reconciliation helps ensure that all transactions are recorded accurately in the company's books.

• It involves comparing the company's records of its bank account with the bank statement to identify any discrepancies.

• Common reasons for discrepancies include outstanding c...read more
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Q3. Any five tangible Assets
Ans. 
Tangible assets are physical assets that can be seen and touched.
• Real estate

• Machinery

• Vehicles

• Inventory

• Furniture and fixtures
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Q4. What is current Assets
Ans. 
Current assets are assets that are expected to be converted into cash or used up within one year.
• Includes cash, accounts receivable, inventory, and prepaid expenses

• Listed on the balance sheet under assets

• Helps determine a company's liquidity and ability to pay off short-term obligations
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Q5. Gold rule of Accounting
Ans. 
The gold rule of accounting states that debits must equal credits in every financial transaction.
• Debits must always equal credits in accounting entries

• It is the foundation of double-entry accounting

• Helps ensure accuracy and balance in financial records
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Q1. Questions about financial statement
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Q2. Depreciation in cash flow statement
Ans. 
Depreciation in cash flow statement is a non-cash expense that reduces net income but does not impact cash flow.
• Depreciation is added back to net income in the cash flow statement because it is a non-cash expense.

• It represents the allocation of the cost of an asset over its useful life.

• Depreciation is important for assessing the true cash flow generated by a business.

• It is typically found in the operating activities se
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Q3. Formulas of excel
Ans. 
Excel formulas are used to perform calculations and manipulate data in Excel spreadsheets.
• Excel formulas start with an equal sign (=) followed by the function or calculation.

• Common Excel functions include SUM, AVERAGE, IF, VLOOKUP, and CONCATENATE.

• Formulas can reference cells, ranges, or other worksheets in the same workbook.

• Excel formulas can be used to perform mathematical operations, logical comparisons, text manipu
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Q1. Tell me about yourself?
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Q2. Strength and weakness
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Aptitude, english, technical

Q1. Self introduction
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Q2. Why do you want to work with our company
Ans. 
I am impressed by your company's reputation for excellence in financial management and I believe my skills and experience align well with your needs.
• I admire your company's commitment to financial transparency and accountability

• I am excited about the opportunity to work with a team of experienced professionals

• I believe my background in financial analysis and reporting will be a valuable asset to your organization
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How to develop business

This will be a written test for freshers

The group discussion will be held among the group of situated students from round 1

Q1. Knowledge is the field is checked
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Q1. Domain knowledge is checked
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Q1. Willing to relocate
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Q1. What do you know about financial statements and how it is important?
Ans. 
Financial statements are reports that provide information about a company's financial performance and position.
• Financial statements include the balance sheet, income statement, and cash flow statement.

• They help investors, creditors, and other stakeholders assess the financial health and stability of a company.

• Balance sheet shows the company's assets, liabilities, and shareholders' equity at a specific point in time.

• Inc...read more
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Q1. About yourself and about career
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Q1. Accounting standards
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Q2. Direct tax and indirect tax
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