CA fresher
20+ CA fresher Interview Questions and Answers
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Q1. Define IRR Define MIRR What is deferred revenue Define Npv and formula Deffered tax asset and liability
Definition of IRR, MIRR, deferred revenue, NPV and formula, deferred tax asset and liability.
IRR (Internal Rate of Return) is the rate at which the net present value of cash flows equals zero.
MIRR (Modified Internal Rate of Return) is a variation of IRR that assumes cash flows are reinvested at a different rate.
Deferred revenue is a liability that arises when a company receives payment for goods or services that have not yet been delivered.
NPV (Net Present Value) is the diffe...read more
Q2. No of EY offices in India and revenue of EY
EY has 16 offices in India and reported a revenue of INR 3,045 crore in FY 2020.
EY has a presence in 16 cities across India including Mumbai, Delhi, Bangalore, Chennai, Kolkata, Hyderabad, and Pune.
In FY 2020, EY reported a revenue of INR 3,045 crore in India.
EY India has over 50,000 employees.
EY India offers services in assurance, tax, advisory, and transaction advisory services.
EY India has been recognized as the Best Employer in India by the Great Place to Work Institute f...read more
CA fresher Interview Questions and Answers for Freshers
Q3. What is ITI and what is Fitter
ITI stands for Industrial Training Institute, and Fitter is a trade under ITI which focuses on fitting and assembling parts.
ITI stands for Industrial Training Institute, which is a training institute focused on providing technical education in various trades.
Fitter is a trade under ITI which involves fitting and assembling parts to create machinery or structures.
Fitters work with tools like wrenches, hammers, and drills to ensure parts fit together correctly.
They may work in ...read more
Q4. what is the capital of india
The capital of India is New Delhi.
New Delhi is the capital city of India
It is a union territory and the seat of the Government of India
New Delhi is known for its historical landmarks like India Gate and Red Fort
Q5. Difference between margin vs markup
Margin is the difference between cost and selling price, while markup is the percentage added to cost to determine selling price.
Margin is calculated as (selling price - cost)
Markup is calculated as (profit/cost) * 100
Margin is a dollar value, while markup is a percentage
Margin is used to determine the profit earned on a product, while markup is used to determine the selling price of a product
Example: If a product costs $50 and is sold for $75, the margin is $25 and the marku...read more
Q6. What is the update job update
The job update is a notification or information about the current status or progress of a job or task.
Job updates provide updates on the progress, completion, or any changes in a job or task.
They can be communicated through various means such as emails, phone calls, or project management tools.
Job updates help in keeping stakeholders informed and ensuring smooth coordination and collaboration.
Examples of job updates include notifying the team about the completion of a milesto...read more
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Q7. What is Lathe Machine
A lathe machine is a tool that rotates a workpiece on its axis to perform various operations such as cutting, sanding, drilling, or deformation.
Used for shaping materials like metal, wood, or plastic
Consists of a rotating spindle that holds the workpiece
Different types include engine lathe, turret lathe, and CNC lathe
Common operations include turning, facing, drilling, and threading
Q8. How to confirm shortlist
To confirm a shortlist, one can follow a systematic process of evaluation and selection.
Review the criteria and qualifications required for the position
Assess the resumes and applications received
Conduct initial screening based on the specified criteria
Shortlist candidates who meet the minimum requirements
Schedule interviews or assessments to further evaluate shortlisted candidates
Evaluate candidates' performance during interviews or assessments
Consider additional factors lik...read more
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Q9. what is interst received?
Interest received refers to the income earned by an individual or entity from investments or deposits.
Interest received is typically earned on savings accounts, fixed deposits, bonds, or other investments.
It is calculated as a percentage of the principal amount and is paid by the borrower or issuer of the investment.
For example, if you have a savings account with a 2% interest rate and $1,000 in the account, you would receive $20 in interest annually.
Q10. what is sales tax deposit?
Sales tax deposit is a payment made by a business to the government for the sales tax collected from customers.
Sales tax deposit is a mandatory payment made by businesses to the government on a regular basis.
It is calculated based on the sales tax collected from customers during a specific period.
The purpose of the sales tax deposit is to ensure that businesses do not use the collected sales tax for their own purposes.
Failure to make timely sales tax deposits can result in pe...read more
Q11. what is telephone deposit?
Telephone deposit is a payment made over the phone to secure a reservation or service.
Telephone deposit is a form of prepayment made over the phone.
It is commonly used to secure hotel reservations, event bookings, or service appointments.
The deposit amount is usually a percentage of the total cost and is non-refundable in case of cancellation.
Customers may provide credit card information or make a bank transfer to complete the deposit.
Telephone deposits help businesses ensure...read more
Q12. what is the iob bank?
IOB Bank stands for Indian Overseas Bank, a major public sector bank in India.
Indian Overseas Bank (IOB) is a public sector bank headquartered in Chennai, India.
It was founded in 1937 and nationalized in 1969.
IOB offers a wide range of banking products and services including loans, deposits, and online banking.
The bank has branches in India as well as overseas locations.
IOB is known for its strong presence in South India.
It is one of the leading banks in India with a large cu...read more
Q13. what is the owners capital?
Owner's capital refers to the total amount of money invested by the owner(s) into a business.
Owner's capital represents the owner's equity in the business.
It includes the initial investment made by the owner(s) as well as any additional investments made over time.
Owner's capital can also be affected by profits or losses generated by the business.
It is reported on the balance sheet under the equity section.
Example: If the owner invests $100,000 in their business, the owner's c...read more
Q14. What is Die Fitter
A die fitter is a skilled worker who assembles and fits together metal parts to create dies used in manufacturing processes.
Die fitters work with precision tools to ensure the proper fit and function of dies.
They may also be responsible for maintaining and repairing dies to prolong their lifespan.
Examples of dies include those used in stamping, forging, and extrusion processes.
Q15. B r in for members family
B r in for members family
The question seems to be asking about the role of a Chartered Accountant (CA) in managing finances for a family
CA can provide financial planning and investment advice to help family members achieve their financial goals
CA can also assist in tax planning and compliance to ensure the family's financial health
CA can help in estate planning and wealth management for future generations
Q16. Golden rules of accounts
Golden rules of accounts are basic principles used in accounting to prepare financial statements.
Debit what comes in, credit what goes out
Debit the receiver, credit the giver
Debit expenses and losses, credit income and gains
Q17. Tell me about GAAR
GAAR stands for General Anti-Avoidance Rules, which are measures to prevent tax avoidance through abusive practices.
GAAR is a set of rules designed to counter aggressive tax planning strategies.
It allows tax authorities to deny tax benefits if the main purpose of a transaction is to obtain a tax benefit.
GAAR provisions are present in many countries' tax laws to ensure fair taxation.
Examples of abusive practices include round-tripping of funds, treaty shopping, and artificial ...read more
Q18. what is maser file
A maser file is a file that contains information about the master data in a system.
Maser file stores essential data that is used as a reference point for other files.
It typically includes information such as customer details, product information, and pricing.
Maser files are crucial for maintaining data integrity and consistency in a system.
Examples of maser files include customer master file, product master file, and vendor master file.
Q19. What is queue gtefvn
Queue is a data structure that follows the First In First Out (FIFO) principle.
Queue is a linear data structure where elements are inserted at the rear and removed from the front.
Common operations on a queue include enqueue (inserting an element) and dequeue (removing an element).
Example: A queue of people waiting in line at a ticket counter.
Q20. Opps cons is imp
Understanding the disadvantages of Object-oriented programming is important for a comprehensive knowledge of programming concepts.
Encapsulation can lead to increased complexity and difficulty in debugging
Inheritance can result in tight coupling between classes, making it harder to maintain and modify code
Polymorphism can sometimes make code harder to understand and follow
Object-oriented programming may not be the best choice for all types of projects, such as those requiring ...read more
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