Beginner Level Accountant Interview Questions Set 3

Categories: Accountancy

Name the popular accounting applications?

There are many apps you can tell the app you are familiar with like CGram Software, Financial Force, Microsoft Accounting Professional, Microsoft Dynamics AX, and Microsoft Small Business Financials.


Which accounting application you wish the foremost and why?

I Like Microsoft Accounting Professional the best as it offers consistent and fast processing of bookkeeping transactions thereby saving time and increasing ability.


 What is GST?

It’s an acronym for Goods and Service Tax and it’s an Indirect tax other than the income tax. Seller’s charges to the customer on the value of the service or product sold. The seller then can deposit the GST to the government.


What is Bank reconciliation statements?

Bank Reconciliation is a statement that allows in the form of individuals to compare their bank account records to that of the bank. BRS is developed during these passbook balance changes from one cashbook balance.This is a repeatedly asked accountant interview questions


What is tally accounting?

It is a software accounting used by small business shops to manage routine accounting transactions.


Define fictitious assets?

They are intangible assets and their benefits are derived from a longer period.

Eg: Goodwill, rights, deferred revenue expenditure, miscellaneous expenses, and accumulate loss among others.


 Explain the basic accounting equation?

Since accounting is all about assets, liabilities, and capital. Its equation can be summarised as

Assets = Liabilities + Owners Equity.


Name the branches of accounting?

There are 3 branches of accounting

1. Financial Accounting

2. Management Accounting

3. Cost Accounting


 Meaning of purchase return in accounting?

It’s a return in a transaction where the buyer of merchandise inventory or fixed assets return these defective or unsatisfactory products to the seller.


What is retail banking?

Retail banking and consumer banking involves a retail client where the individual’s customers use local branches of larger commercial banks.

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