Tally Accountant Interview Questions and Answers for Freshers

The 3 golden rules of Accounting are: Debit the receiver, Credit the giver, and Account for all transactions.

• Debit the receiver: Increase in assets and decrease in liabilities are debited.

• Credit the giver: Increase in liabilities and decrease in assets are credited.

• Account for all transactions: Every transaction should be recorded in the books of accounts.

The question is unclear and lacks necessary information.

• The question is poorly worded and difficult to understand.

• It is unclear what is meant by 'accountant section within purshed and celling'.

• The term 'per day celling total' is ambiguous and needs clarification.

• Without more information, it is impossible to provide a meaningful answer.

Debtor is a person or entity who owes money to another person or entity. Creditor is a person or entity to whom money is owed.

• Debtor is the one who has taken a loan or credit from a creditor.

• Creditor is the one who has given the loan or credit to the debtor.

• Debtor owes money to the creditor and is liable to pay it back.

• Creditor has the right to collect the money owed by the debtor.

• Examples of debtors include individuals who have taken a personal loan, businesses that have tak...read more

Bank Reconciliation is the process of matching and comparing the balance in the bank statement with the company's own records.

• It helps to identify any discrepancies between the two records.

• It ensures that all transactions are recorded accurately.

• It helps to detect any errors or fraud in the bank statement.

• It helps to maintain the accuracy of financial statements.

• Examples: checks that have not cleared the bank, bank fees, interest earned, etc.

Debit and Credit are the two fundamental concepts in accounting used to record financial transactions.

• Debit refers to the left side of an account and represents an increase in assets or a decrease in liabilities or equity.

• Credit refers to the right side of an account and represents a decrease in assets or an increase in liabilities or equity.

• Every transaction must have an equal debit and credit amount to maintain the balance sheet equation.

• For example, when a company purchase...read more

Book-keeping is the process of recording financial transactions and maintaining financial records.

• It involves recording all financial transactions of a business

• It helps in maintaining accurate financial records

• It includes tasks like recording sales, purchases, payments, receipts, etc.

• Book-keeping is the foundation of accounting

• Examples of book-keeping include maintaining a cash book, ledger, and trial balance

By presenting logical arguments, providing evidence, and appealing to emotions.

• Use logical reasoning to explain the benefits or advantages of your proposal.

• Provide evidence or data to support your claims.

• Appeal to emotions by highlighting the positive impact or outcomes of your suggestion.

• Listen to the concerns of others and address them respectfully.

• Build trust and credibility by being knowledgeable and reliable.

• Use storytelling to make your points more relatable and memorab...read more