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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.
Subcategories for Accounts Interview Questions & Answers :-
Following are sub categories for which Interview Questions & Answers are available under Accounts Interview Questions & Answers. Please select the appropriate sub-category:-
|Which of the following is not a contingent liability?
a) Product warranty
b) Debt guarantee
c) Penalty imposed by Excise officer for violation of a provision of the Central Excise Act
d) None of the above
|What do you consider to be the biggest challenge facing the accounting profession today?
|How will you neutralize a toxic link to your site?|
|What is a demographic environment?|
|What are the types of accounts?|
|1. If assume we paid 50/- as an advance for worth or 100/- goods, but our supplier sent only up to 25/- worth of goods. Know my question is that we want to close the transaction now. How it possible?
2. What about VAT like Tax Setups in AP and AR?
3. what about the SWEEP command in AP?
|Which of the following statement is false? a) Expenses in connection with obtaining a licence for running the cinema is Capital expenditure b) Heavy advertisement expenses to introduce a new product is deferred revenue expenditure c) Cost of construction of building including cost of temporary huts for storing building materials is capital expenditure d) The cost of Rings and Pistons of an engine changed to increase its fuel efficiency is revenue expenditure|
|What are the Referential actions supported by FOREIGN KEY integrity constraint ?|
|Voidable contracts are:
(a) Not enforceable by law
(b) Enforceable at the option of both the parties
(c) Enforceable at the option of one party only
(d) Enforceable at the option of one or more parties but not at the option of other or others
|What is the difference between an application server and a Web server?|
|State the merits of Mergers and Acquisitions?|
|What do you understand by Intercompany Settlement?|
|What is deadlock?
|State the role RBI in Industrial Sector?|
|What is anonymous FTP and why would you use it ?|
|Where the financial accounting fails the cost accounting for is rescue but still there are some limitations deficiencies in the system?
|State the difference between Demand and Fixed Deposits?|
|What do you mean by WCC?|
|Can I get health insurance claim for my hair transplant?|
|What is cash credit?|
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Latest 20 Questions
Payment of time- barred debt is:
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