Virtuoso Executive Accountant Interview Questions and Answers

Yes

Nothing

On the subjective mode of applied for

On various aspects of business related topics

Q1. What is Accounts payable
Ans. 
Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.
• Accounts payable is a liability on the balance sheet

• It represents the amount of money owed by a company to its suppliers or vendors

• It is typically recorded when goods or services are received but payment has not yet been made

• Accounts payable is an important part of a company's working capital man
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Q2. What is Bank reconcilation statment
Ans. 
Bank reconciliation statement is a document that compares the bank's records with the company's records to ensure they match.
• It is used to identify any discrepancies between the two sets of records.

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

• The goal is to ensure the accuracy of the company's financial records and the bank's records.

• Once discrepancies are identifi...read more
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Q1. (1).What does Tally accounting mean? Ans :Tally accounting is an ERP software that is used by small as well as large businesses for business functionalities like accounting,finance,inventory,payroll,etc.....read more
Ans. 
Tally accounting is an ERP software used for business functionalities like accounting, finance, inventory, payroll, etc.
• Tally accounting is an ERP software

• Used by small and large businesses

• Handles accounting, finance, inventory, payroll, etc.

• Helps in managing financial transactions

• Generates financial reports

• Provides real-time data

• Increases efficiency and accuracy

• Premises in accounting refer to fixed assets shown in the
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Q2. (3).what is the difference between capital and revenue transaction? Ans :accounting involves two types of business transactions. Capital and Revenue Revenue transactions refers to the transactions relati...read more
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