Varsity Education Management Accounts Payable Executive Interview Questions and Answers for Freshers

Q1. About yourself, Your current profile
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Q2. About yourself Your current profile
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Q3. Your current profile
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Q1. Golden rules of accounting
Ans. 
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• There are three golden rules of accounting: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains.

• These rules help maintain the balance in the accounting equation: Assets = Liabilities + Equity.

• For example, when a company receives cash f...read more
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Q2. Journal entries
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Q1. Past experiences
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Q2. Reason for leaving
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Q1. Achievements in previous organisation
Ans. 
Led a team to increase sales by 30% and implemented cost-saving measures resulting in 20% reduction in expenses.
• Led a team to achieve a 30% increase in sales

• Implemented cost-saving measures resulting in a 20% reduction in expenses

• Received recognition for exceeding quarterly targets
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Q2. Are you willing to work for extra hours?
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Q3. Future goals or where would you see yourself in another 10years
Ans. 
In 10 years, I see myself leading a team of professionals in a successful company, making a positive impact in the industry.
• Continuing to advance in my career and taking on more leadership roles

• Building strong relationships with colleagues and clients

• Contributing to the growth and success of the company through innovative ideas and strategies
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Basic accounting questions
Basic journal entries and accounts

Q1. What is tds and how much percentage should be deducted?
Ans. 
TDS stands for Tax Deducted at Source. It is a tax collected by the government at the time of payment.
• TDS is a tax collected by the government at the time of payment.

• It is deducted from the income of the recipient.

• The percentage of TDS varies depending on the type of payment and the income of the recipient.

• For example, the TDS rate for salary income can range from 5% to 30% depending on the income slab.

• For rent payment...read more
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