20+ Account Executive 1 Interview Questions and Answers

Google AdWords has different types of objectives that help in campaign creation. Negative keywords are used to exclude irrelevant searches.

• Types of objectives in Google AdWords include sales, leads, website traffic, brand awareness, and app promotion.

• Objectives help in selecting the right campaign type, bidding strategy, and ad format.

• Negative keywords are used to prevent ads from showing up for irrelevant searches.

• For example, if a company sells only new cars, they can add '...read more

AP Account Payable refers to the amount owed by a company to its suppliers or vendors for goods or services received.

• AP Account Payable is a liability on the company's balance sheet.

• It represents the company's short-term obligations to pay its creditors.

• AP is recorded when a company receives goods or services on credit.

• It is an important component of working capital management.

• Examples of AP include invoices from suppliers, utility bills, and employee expenses.

2 way match is a comparison of the invoice and the purchase order, while 3 way match involves comparing the invoice, purchase order, and the receiving report.

• 2 way match compares the invoice and the purchase order to ensure they match in terms of quantity, price, and terms.

• 3 way match adds an additional step of comparing the invoice, purchase order, and the receiving report to ensure all three documents align.

• The purpose of these matches is to prevent errors, fraud, and discr...read more

Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.

• Depreciation is a systematic allocation of the cost of an asset over its useful life

• It is a non-cash expense because it does not involve an outflow of cash

• Depreciation is recorded on the income statement to reflect the wear and tear of an asset

P2P cycle refers to the Procure-to-Pay cycle which involves the entire process of purchasing goods or services.

• The cycle starts with identifying the need for a product or service

• Then, a purchase order is created and sent to the supplier

• The supplier delivers the product or service and an invoice is generated

• The invoice is verified and approved for payment

• Finally, payment is made to the supplier

• The cycle ends with recording the transaction in the accounting system

A profit and loss account is a financial statement that summarizes the revenues, costs, and expenses incurred during a specific period.

• It shows the company's financial performance over a period of time.

• Revenues and gains are listed on the credit side, while expenses and losses are listed on the debit side.

• The difference between the total revenue and total expenses represents the net profit or loss for the period.

• It helps in evaluating the profitability and financial health of...read more

TDS stands for Tax Deducted at Source. The last date for TDS filing is typically the 7th of the following month.

• TDS is a tax deducted by the payer at the time of making payment.

• It is deducted on various types of income such as salary, interest, commission, etc.

• The last date for TDS filing is usually the 7th of the following month in which TDS was deducted.

• Late filing of TDS can result in penalties and interest charges.

Accruals are expenses incurred but not yet paid, while bank reconciliation is the process of comparing the bank statement with the company's records.

• Accruals are expenses that have been incurred but not yet paid for.

• Accruals are recorded in the financial statements to match revenues and expenses in the same accounting period.

• Bank reconciliation is the process of comparing the company's records with the bank statement to ensure they match.

• Bank reconciliation helps identify any...read more

Yes, I am familiar with filing GST and have experience in completing and submitting GST returns.

• I have experience in preparing and submitting GST returns for clients

• I am familiar with the GST filing process and requirements

• I have knowledge of GST laws and regulations

• I am proficient in using GST filing software and tools

The golden rules of account include building trust, communication, understanding client needs, providing value, and maintaining relationships.

• Build trust with clients through honesty and transparency

• Communicate effectively and regularly with clients to keep them informed

• Understand the needs and goals of each client to tailor your approach

• Provide value through your products or services to meet client expectations

• Maintain relationships by following up, showing appreciation, and...read more

Tally is an accounting software used to manage financial transactions and generate reports.

• Tally is operated through a user-friendly interface.

• To start, open Tally and create a company profile.

• Enter financial transactions like sales, purchases, and expenses.

• Use Tally's features to generate reports like balance sheets and profit & loss statements.

• Tally also allows for inventory management and payroll processing.

GST stands for Goods and Services Tax. It is a value-added tax levied on the supply of goods and services in a country.

• GST is a tax system implemented in many countries to replace multiple indirect taxes.

• It is designed to simplify the tax structure and reduce tax evasion.

• GST is levied at each stage of the supply chain, from the manufacturer to the consumer.

• It is a consumption-based tax, meaning it is ultimately borne by the end consumer.

• GST rates can vary for different goods ...read more

The targets and components for an Account Executive 1

• Targets include achieving sales quotas and revenue goals

• Components may include prospecting, lead generation, client meetings, and closing deals

• Examples of targets could be to increase sales by 10% in the first quarter or to acquire 20 new clients

• Components may vary depending on the industry and company

The golden rules of accounting are fundamental principles that guide the recording and reporting of financial transactions.

• The first golden rule is the Personal Account rule, which states that debit the receiver and credit the giver.

• The second golden rule is the Real Account rule, which states that debit what comes in and credit what goes out.

• The third golden rule is the Nominal Account rule, which states that debit all expenses and losses and credit all incomes and gains.

I have 3 years of accounting experience in a corporate setting.

• Managed accounts payable and receivable processes

• Prepared financial statements and reports

• Assisted with budgeting and forecasting

• Experience with auditing and compliance

Sections of TDS include salary, non-salary, and other sources.

• Salary TDS includes tax deducted from salary income

• Non-salary TDS includes tax deducted from income other than salary

• Other sources TDS includes tax deducted from sources like interest, rent, etc.

GST stands for Goods and Services Tax, a type of indirect tax levied on the supply of goods and services.

• GST is categorized into three types: CGST (Central Goods and Services Tax), SGST (State Goods and Services Tax), and IGST (Integrated Goods and Services Tax).

• CGST is collected by the Central Government, SGST by the State Government, and IGST on inter-state transactions.

• For example, if a product is sold within the same state, both CGST and SGST will be applicable. If sold b...read more