Accountant&dataentryoperator Interview Questions and Answers

An account is a record of financial transactions, and accountants perform functions such as financial reporting, auditing, and tax preparation.

• An account is a record of financial transactions, including assets, liabilities, income, and expenses.

• Accountants analyze financial information to ensure accuracy and compliance with laws and regulations.

• Functions of an accountant include financial reporting, auditing, tax preparation, and advising on financial decisions.

• Examples of ta...read more

Accounting involves recording financial transactions and preparing financial statements. Taxation involves complying with tax laws and regulations.

• Maintain accurate records of financial transactions

• Prepare financial statements such as balance sheets and income statements

• Comply with tax laws and regulations

• Maintain item wise stock by using inventory management software

• Record the quantity and value of each item in stock

• Update stock records regularly to ensure accuracy

Sale purchase with GST entry involves recording transactions with GST component.

• Create a GST invoice for sale or purchase

• Record the GST component separately in the books of accounts

• Claim input tax credit for GST paid on purchases

• File GST returns on time to avoid penalties

• Maintain proper documentation for GST transactions