Interview Questions Answers in Business Administration, Accounting AllOther, Banking Finance

define your self

Answer

In this we need to answer about our strenghts, acheviments
and the things which will show our identity as a persons and
apart form this ur educational background, ur hobbies. They
will ask this question mainly to know abt ur approach and
also abt ur fulency.

Is This Answer Correct ?

1 Yes

1 No

Question { Capital IQ, 38382 }

what is inflation?

Answer

Inflation means a rise in price levels of goods and
services in an economy.

Is This Answer Correct ?

5 Yes

1 No

Question { Capital IQ, 12061 }

In intangible assest, patents ,trade marks,copy rights we
can feel or some thing can be done but what about goodwill?

Answer

Goodwill is considered as an intangible asset. Goodwill
means the name and fame and reputation of a company.
Through goodwill a company can get good recognition in the
market and it can easily secure loans from the financial
institution for its expansion and other activites.

Is This Answer Correct ?

8 Yes

0 No

Question { 10899 }

repo rate

Answer

Repo rate is the rate at which the Central bank repurchases
the government securities from the commercial banks
depending on the level of money supply which it maintains in
the country.

Is This Answer Correct ?

1 Yes

1 No

Question { IBM, 8287 }

What is the uses of Ratio's in The Finanacial management?
Explain it?

Answer

Ratio analysis is mainly use to show the financial
performance of an organisation. It shows the companies
solvency, liqudity and profitability positions. There are
diffrent types of ratios which shows the performance of
organisation like:
- Solvency ratios
- profitiability ratios
- Leverage ratios

Is This Answer Correct ?

20 Yes

3 No

Question { Cap Gemini, 93434 }

what is BRS

Answer

BRS stands for Bank Reconciliation Statement. It is prepared
to find out the diffrence between the bank cash book and
pass book.The bank cash book is maintained by the customer
and the pass book is maintained by the banker himself. The
customer ( either a company or an individual)keeps both cash
book and passbook with himself and reviews the passbook with
the banker whenever he goes to the bank. The main reasons
for diffrence between cash and passbook are as fallows:
1. Cheques deposited into bank but not credited.
2. Cheques drawn but not presented for payment.
3. Bank charges are debited in bank account.
4. cheques dishonoured.

Is This Answer Correct ?

10 Yes

2 No

Question { TATA, 10602 }

what do u mean by market place

Answer

Market is a place where goods are bought and sold to the
final consumer. It can also be defined as a place where the
goods are sold from the supplier to the final consumer.
supplier - Wholesaler - Retailer - consumer

Is This Answer Correct ?

27 Yes

1 No

Question { Capital IQ, 46989 }

list out the accounting concepts and explain the accural
concept

Answer

Accounting concepts are the basic rules which are generally
fallowed by every company. The basic accounting concepts
which are fallowed generally are:
1.Business Entity Concept
2.Going Concern Concept
3.Dual Aspect Concept
4.Accural concept.
5.Money Measurement concept
6.Realisation Conept
7.Accounting period concept
8.Matching concept
9. Cost Concept.
Accural Concepts defines that the income and expenses must
be recorded Financial statements as soon as they are
incurred.

Is This Answer Correct ?

23 Yes

4 No

Question { Capital IQ, 26050 }

What Does Suspense Account Mean?

Answer

Suspense account is usually maintained when there occurs and
diffrence in the debit and credited side of trail balance.
So Suspense account is maintained to adjust the difference
in trial balance. It may occur due to the following:
error of ommission
error of commission
error of principle
The main purpose of this account is to show the ture and
fair picture of balancesheet.

Is This Answer Correct ?

13 Yes

1 No

Question { IBM, 10642 }

What is depriciation, explain this to me

Answer

Depreciation means a gradual decrease or demultion or
reduction in the value of the assets.It occurs due to wear
and tear, accidents, Obsolecense. So it is a loss to the
business and therefore it is treated as an indirect expense
and credited to the profit and loss account. It is deducted
from the concerned assets and the remaining balance is
shown on the asset side of the balance sheet.

Is This Answer Correct ?

7 Yes

2 No

Question { FactSet Systems, 10264 }

what is working capital in what way it is useful for
company or orgainzation

Answer

Working Capital is maintained in the day to day activites
of the business. It shows the diffrence between the current
assets and current liabilites of a business. So working
capital depicts the liquidity position of the business.

Is This Answer Correct ?

12 Yes

0 No

Question { 26826 }

In which account does tea and xerox will be taken into
consideration

Answer

Tea and Xerox comes under Nomainal account under the head
Petty expenses.As tea is paid to employees it is considered
as an Miscellaneous expense and xerox comes under the head
of stationery expenses in petty cash account.

Is This Answer Correct ?

16 Yes

4 No

Question { 7467 }

what is repo rate?
plz explain it in broad.

Answer

whenever there is shortage of funds for banks they can
barrow money from RBI.Repo rate is rate at which banks
barrow money from RBI.A reduction in the repo rate will help
banks to get money at a cheaper rate. When the repo rate
increases borrowing from RBI becomes more expensive.

Is This Answer Correct ?

9 Yes

1 No

Question { 9702 }

why do u prepare trial balance

Answer

Trial Balance is mainly prepared to check the arthematical
accuracy of books of accounts. It will give the details of
all items which are placed on both debit and credit side of
the balance.It is prepared to show the list of all the items
which appear on both the debit and credit side.

Is This Answer Correct ?

21 Yes

3 No

Question { 19755 }

how many types of accounts in accounting language?

Answer

In accounting there are mainly two types of accounts such as:
1. Personal Accounts
2. Impersonal Accounts

1.Personal Accounts: It deals with names of the persons,
name of the organisations et. For examples rama a/c, sita
a/c, Sbi a/c, Anand and co a/c etc
2. Impersonal Accounts: Under this there are two types
a. Real Accounts: This deals with all the assets like land,
furniture, buildings etc
b.Nominal account: This deals with all the expenses, losses,
incomes and gains of the business like salaries, commission etc.

Is This Answer Correct ?

55 Yes

7 No

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