Deputy Manager Accounts Interview Questions and Answers

The PAN Card number can indicate whether it belongs to a company, firm, or individual.

• The fourth character of the PAN Card number indicates the type of holder (P for individual, F for firm, C for company, etc.)

• The fifth character of the PAN Card number indicates the first letter of the PAN holder's last name or surname.

• For example, if the PAN Card number is ABCDE1234F, the 'F' in the fourth position indicates it belongs to a firm.

Capital expenditures are investments in long-term assets, while revenue expenditures are expenses incurred for day-to-day operations.

• Capital expenditures are investments in assets that provide benefits over multiple accounting periods.

• Examples of capital expenditures include purchasing machinery, equipment, or buildings.

• Revenue expenditures are expenses incurred for day-to-day operations and are typically expensed in the period they are incurred.

• Examples of revenue expenditur...read more

In a purchase order, I check for accuracy, completeness, authorization, and adherence to company policies.

• Check for accuracy of items, quantities, prices, and terms

• Ensure completeness of information such as vendor details, delivery dates, and payment terms

• Verify authorization by checking for approval signatures or electronic approvals

• Ensure adherence to company policies and procedures regarding procurement

Project Costing of DRI is determined through a systematic process.

• Project Costing of DRI is determined by analyzing various cost elements such as labor, materials, equipment, and overhead expenses.

• The cost estimation process involves identifying the scope of the project, breaking it down into tasks, and assigning costs to each task.

• Costing methods like bottom-up estimating, parametric estimating, and analogous estimating can be used to determine project costs.

• Project managers...read more

Unadjusted time period refers to a time period that has not been modified or corrected for any specific factors or variables.

• Unadjusted time period is the original time period without any adjustments.

• It does not take into account any specific factors or variables that may affect the time period.

• For example, in accounting, unadjusted time period refers to a financial statement that has not been adjusted for any accruals or deferrals.

• Unadjusted time period is often used as a st...read more

TDS rates and limits are the rates at which tax is deducted at source on various types of income.

• TDS rates vary depending on the type of income and the recipient

• For example, TDS on salary income ranges from 5% to 30% depending on the income slab

• TDS on interest income is usually deducted at 10% for individuals

• There are different TDS rates for different types of payments like rent, commission, etc.

• TDS limits specify the threshold beyond which TDS is applicable

GST input criteria include valid tax invoice, receipt of goods or services, payment made, and goods or services received.

• Valid tax invoice is required for claiming input tax credit.

• Receipt of goods or services must be received.

• Payment for the goods or services must be made.

• Goods or services must be received.