Wiz Tracks Accountant & Audit Interview Questions and Answers

Q1. Basic accounting/ TDS/ Deductions in income tax
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Understanding basic accounting principles, TDS, and deductions in income tax is essential for accountants and auditors.
• Basic accounting principles include concepts like double-entry accounting, accruals, and matching principle.

• TDS (Tax Deducted at Source) is a system where tax is deducted at the time of payment.

• Deductions in income tax can include expenses like home loan interest, medical insurance premiums, and donati...read more
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Q2. What are most Routine sections of TDS? What deductions are allowed under chp vi a of income tax.
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Routine sections of TDS include salary, interest on securities, interest other than interest on securities, winnings from lotteries, crossword puzzles, card games, and other games of any sort, and winnings from horse races.
• Salary

• Interest on securities

• Interest other than interest on securities

• Winnings from lotteries

• Winnings from crossword puzzles, card games, and other games of any sort

• Winnings from horse races
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An aptitude test is beneficial for assessing knowledge.

Q1. What is the process for preparing a balance sheet and a profit and loss account?
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Q2. What is the process for preparing a revenue account?
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Q1. Communication skills. Learning can always be made enjoyable and interesting. 4-letter words can be taught to kids in a fun and playful way as well. They can be involved in various activities which will enh...read more
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Q2. Every day, we come across a lot of words. Check out the below list of words and try to identify how many of them you already know. Also, learn the meanings of the words that are new to you and add them to ...read more
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Learning new words is crucial for kids to improve their communication, vocabulary, and language skills. It helps in developing language fluency, reading comprehension, and confidence.
• Developing a strong vocabulary enhances communication skills and the ability to express thoughts effectively.

• Improving vocabulary aids in better reading comprehension of academic and non-academic texts.

• Learning new words boosts confidence ...read more
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A careful study of some social unit (as a corporation or division within a corporation) that attempts to determine what factors led to its success or failure

Q1. Account related
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Q2. GST
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Q3. TDS
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Q1. What is account
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Q2. GSTR-1 AND GSTR 3B
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About work of that company

About work of that company

Q1. Self introduction
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Q2. My strength and weakness
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Q1. About family background
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Q2. Long term short term goal
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My long-term goal is to become a Certified Public Accountant and eventually work my way up to a senior financial management position within a reputable company.
• Obtain CPA certification within the next 3-5 years

• Gain experience in financial analysis and reporting

• Attend leadership development programs to enhance management skills

• Work towards a promotion to a senior financial management role
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Q1. Introduction about my self
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Q2. Intrest about my self
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Q1. What is bad bebt
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Q2. What is accounts
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Q1. Introduction About our self
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I am a dedicated and experienced Executive Accountant with a strong background in financial management and strategic planning.
• I have over 10 years of experience in accounting and finance

• I have a proven track record of successfully managing budgets and financial reporting

• I am skilled in financial analysis and forecasting

• I have a strong understanding of GAAP and financial regulations

• I have excellent communication and lea
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Q2. What is Accounting Types of Accounts
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Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business.
• Accounting involves recording financial transactions of a business.

• Types of accounts include assets, liabilities, equity, revenue, and expenses.

• Assets are resources owned by the business, like cash and inventory.

• Liabilities are obligations of the business, such as loans and accounts payable.

• Equity represen...read more
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