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Accounts Interview Questions & Answers - Learning Mode

Accounts Interview Questions & Answers - Learning Mode

An account (in book-keeping) refers to assets, liabilities, income, expenses, and equity, as represented by individual ledger pages, to which changes in value are chronologically recorded with debit and credit entries. An account is a record in the general ledger that is used to collect and store debit and credit amounts. For example, a company will have a Cash account in which every transaction involving cash is recorded. If the company sells merchandise for cash, the Cash account will be debited and the Sales account will be credited.

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Subcategories for Accounts Interview Questions & Answers - Learning Mode

Following are sub categories for which Interview Questions & Answers are available under Accounts Interview Questions & Answers - Learning Mode. Please select the appropriate sub-category:-

Accounts Payable Interview Questions & Answers (41) Learning Mode | Exam Mode

Accounts Receivables Interview Questions & Answers (15) Learning Mode | Exam Mode

Banking Interview Questions & Answers (26) Learning Mode | Exam Mode

Cashier Banking Interview Questions & Answers (10) Learning Mode | Exam Mode

Corporate Accounting Interview Questions & Answers (0) Learning Mode | Exam Mode

Cost Accounting Interview Questions & Answers (47) Learning Mode | Exam Mode

Deposit Account Interview Questions & Answers (10) Learning Mode | Exam Mode

Finance Interview Questions & Answers (71) Learning Mode | Exam Mode

Financial Account Interview Questions & Answers (0) Learning Mode | Exam Mode

Fixed Assets Interview Questions & Answers (11) Learning Mode | Exam Mode

General Ledger Interview Questions & Answers (17) Learning Mode | Exam Mode

Payroll Interview Questions & Answers (11) Learning Mode | Exam Mode

Personal Account Interview Questions & Answers (12) Learning Mode | Exam Mode

Retail Accounting Interview Questions & Answers (44) Learning Mode | Exam Mode

Sweep Account Interview Questions & Answers (10) Learning Mode | Exam Mode

Transactional Account Interview Questions & Answers (10) Learning Mode | Exam Mode

User Account Interview Questions & Answers (6) Learning Mode | Exam Mode

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Accounts Interview Questions & Answers - Learning Mode
Try Accounts Interview Questions & Answers - Exam Mode
Question: What are the qualities that make for a good accountant?

Answer: Accountancy is quite a critical and complicated profession. Along with the basic necessities of being good at calculation and figures, one should know to keep their patience and their cool while handling the critical figures and accounts of a company. Therefore, having patience and being calm are one of the most integral qualities of being a good accountant.
Strong analytical skills, self disciple and good interpersonal skills are just some of the skills that make a good accountant. Source:
Question: What is the use of Delivery Note?

Answer: Delivery note is a document sending goods from supplier to a buyer. Its contains only the buyer's name address VAT/CST No. Description of the goods being sent Goods quantity and method of packing/packing quantity. The Delivery Note may be raised without Invoice but against buyer's Purchase Order. Invoice may be raised against the buyer on later date against the acknowledged receipt of the Delivery Note Source:
Question: What is the A Levels

Answer: Why you chose your A Levels and what you thought while doing so are other important aspects of the accounting world, therefore, there will be questions regarding the A Levels. If you have not completed the A levels and have gone through by other means, you should be sincere enough to inform the interviewer about the same during the initial interview. You will find the A Levels to be quite important when it comes to Chartered Accountancy firms. Source:
Question: Explain sequence generator in oracle ?

Answer: The sequence generator gives a sequential series of numbers.The sequence generator is especially useful for generating unique sequential numbers. Sequence numbers are Oracle integers of up to 38 digits defined in the database. A sequence definition provides information, such as:
The sequence name
ascending or descending sequence
The interval between numbers
Whether Oracle should cache sequence numbers in memory
Sequence numbers are generated independent of any tables. The same seq Source:
Question: An offer allowed to remain open for acceptance over a period of time is known as:
(a) Standing Offer
(b) Continuing Offer
(c) Open Offer
(d) All of the above

Answer: (d) All of the above
Description:An offer that is allowed to remain open for acceptance over a period of time is known as standing, open or continuing offer. Tender for supply of goods is a kind of standing offer. Source:
Question: Differentiate Public and Private Accounting ?

Answer: Public accounting is a type of accounting that is done by one company for another company. Private accounting is done for your own company. Source:
Question: What is project implementation?

Answer: Project implementation involves six steps in total such as:

Identify Need
Generate and Screen Ideas
Conduct Feasible Study
Develop the Project
Implement the Project
Control the Project Source:
Question: What accounts payable applications are your familiar with?

Answer: With accounting job interview questions like this first list the applications you have used and then expand on the value of the solutions they offered to your particular business. Look at aspects such as managing vendor information, approval controls and providing payables reports. Source:
Question: What is Other Questions Related to Accounting

Answer: The interviewer may also ask any and every question related to the actual profession ? i. e. accounting. These questions are by far the most important questions that are asked during the interview, simply because these are the questions are the ones that will make or break your chances to work with the company.
These questions can be basic, complicated or very difficult too.

Some of the questions can be:
? When does our credit becomes our debitor, or vice versa.
? The quest Source:
Question: What is Meant by Liabilities ?

Answer: Liabilities are what all u owe from the bank on notes payable or in other words it is
Liability=Asset-Owners equity.
Question: You need to install the necessary components prior to installing Exchange Server 2007 on a new
server. Which three components should you install? (Each correct answer presents part of the
solution. Choose three.)
A. Windows PowerShell 1.0
B. Network News Transfer Protocol (NNTP)
C. Simple Mail Transfer Protocol (SMTP)
D. Microsoft Management Console (MMC) 3.0
E. Microsoft .NET Framework 1.1
F. Microsoft .NET Framework 2.0

Answer: A. Windows PowerShell 1.0
D. Microsoft Management Console (MMC) 3.0
F. Microsoft .NET Framework 2.0 Source:
Question: How is a PO (Purchase order created)?

Answer: A document or form used by a customer to issue an order for goods or services.

I want notes on
1.Procure to pay cycle with accounting entries
2.order to cash
3.record to report
4.Sox Source:
Question: What is a node class?

Answer: A node class is a class that,
* relies on the base class for services and implementation,
* provides a wider interface to the users than its base class,
* relies primarily on virtual functions in its public interface
* depends on all its direct and indirect base class
* can be understood only in the context of the base class
* can be used as base for further derivation
* can be used to create objects.
A node class is a class that has added new services or functionality be Source:
Question: Define dual aspect term in accounting ?

Answer: As the name implies, the dual aspect concept states that every transaction has two sides. For example, when you buy something, you give the cash and get the thing. Similarly, when you sale something, you lose the thing and gets the money. So this getting and losing is basically two aspects of every transaction. Source:
Question: Define namespace.

Answer: It is a feature in C++ to minimize name collisions in the global name space. This namespace keyword assigns a distinct name to a library that allows other libraries to use the same identifier names without creating any name collisions. Furthermore, the compiler uses the namespace signature for differentiating the definitions. Source:

Answer: A. Source:
Question: A strong name consists of the assembly's identity its simple text name, version number, and culture information (if provided) plus a public key and a digital signature. It is generated from an assembly file (the file that contains the assembly manifest, which in turn contains the names and hashes of all the files that make up the assembly), using the corresponding private key. Assemblies with the same strong name are expected to be identical.

Strong names guarantee name uniqueness by relying on unique key pairs. No one can generate the same assembly name that you can, because an assembly generated with one private key has a different name than an assembly generated with another private key.

When you reference a strong-named assembly, you expect to get certain benefits, such as versioning and naming protection. If the strong-named assembly then references an assembly with a simple name, which does not have these benefits, you lose the benefits you would derive from using a strong-named assembly and revert to DLL conflicts. Therefore, strong-named assemblies can only reference other strong-named assemblies.

There are two ways to sign an assembly with a strong name:

1. Using the Assembly Linker (Al.exe) provided by the .NET Framework SDK.
2. Using assembly attributes to insert the strong name information in your code. You can use either the AssemblyKeyFileAttribute or the AssemblyKeyNameAttribute, depending


Question: What are respectively some remarkable functions of myosin, CD4, albumin, keratin, immunoglobulin, reverse transcriptase, hemoglobin, and insulin?

Question: Other accounting interview questions to expect when you interview for an accountancy job include:

Answer: What cost-cutting measures have you been responsible for implementing?
How much money have you saved the company and how did you do this?
What aspects of hands-on accounting did you participate in?
Give examples of internal control procedures that you have developed and maintained.
What was your interface with the budget process?
Discuss your experience in financial analysis of company/ad hoc projects.
Tell us about the financial forecasting you have been responsible for.
Wh Source:
Question: What is 3 Way Matching?

Answer: Three way matching is to compare three documents i.e.,
1. Purchase order
2. Receipt of Items/Packing slip
3. Invoice.
For example, if we Order for 50 Items in purchase order and received 40 Items only instead of 50 items. But we received invoice for 50 items. After comparing the three documents we pay for only 40 Items.

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Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
A advertises to sell his old car by advertising in a newspaper. This offer is caleed: (a) General Offer (b) Special Offer (c) Continuing Offer (d) None of the above
In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
In case of unenforceable contract having some technical defect, parties (a) Can sue upon it (b) Cannot sue upon it (c) Should consider it to be illegal (d) None of the above
If entire specified goods is perished before entering into contract of sale, the contract is (a) Valid (b) Void (c) Voidable (d) Cancelled
______________ contracts are also caled contracts with executed consideration. (a) Unilateral (b) Completed (c) Bilateral (d) Executory
A offers B to supply books @ Rs 100 each but B accepts the same with condition of 10% discount. This is a case of (a) Counter Offer (b) Cross Offer (c) Specific Offer (d) General Offer
_____________ is a game of chance. (a) Conditional Contract (b) Contingent Contract (c) Wagering Contract (d) Quasi Contract
There is no binding contract in case of _______ as one's offer cannot be constructed as acceptance (a) Cross Offer (b) Standing Offer (c) Counter Offer (d) Special Offer
An offer is made with an intention to have negotiation from other party. This type of offer is: (a) Invitation to offer (b) Valid offer (c) Voidable (d) None of the above
When an offer is made to the world at large, it is ____________ offer. (a) Counter (b) Special (c) General (d) None of the above
Implied contract even if not in writing or express words is perfectly _______________ if all the conditions are satisfied:- (a) Void (b) Voidable (c) Valid (d) Illegal
A specific offer can be accepted by ___________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree
An agreement toput a fire on a person's car is a ______: (a) Legal (b) Voidable (c) Valid (d) Illegal
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