
<p class="wp-block-paragraph"> Hello Dear CA Students,</p>



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<p class="wp-block-paragraph"><em>We are Sharing With You Common Questions Asked during Accountant Interview ? . So kindly Check Out our www.castudynotes.com website and ALL the Best for Your upcoming Exams.</em></p>
<cite>CA STUDY NOTES</cite></blockquote>


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<h2 class="wp-block-heading has-text-align-center has-tertiary-color has-text-color has-link-color wp-elements-f287cd98c3891aa1ce6ec28c0c0e675f">ðð¿ð² ðð¼ð ð£ð¿ð²ð½ð®ð¿ð¶ð»ð´ ð³ð¼ð¿ ð®ð» ð®ð°ð°ð¼ðð»ðð¶ð»ð´ ð¶ð»ðð²ð¿ðð¶ð²ð?<br></h2>



<p class="wp-block-paragraph"><strong>Q) What is a bank reconciliation? What are some common reasons for discrepancies?</strong><br>Ans: Bank reconciliation statement is an internal tool used by companies to compare the balance in their own accounting records with actual bank statement balances.<br>Reasons of discrepancies:<br>· Insufficient fund in bank account<br>· Bank charges &; fees that have not been taken into consideration.<br>· Cheque issued but not presented in due time.<br>· Transaction recording errors.<br>· On the way deposit or Online deposit etc.<br></p>



<p class="wp-block-paragraph"><br><strong>Q) Difference between Trading company and manufacturing company?</strong><br>Ans: Trading company is a company whose business is buying and selling of goods<br>Whereas, manufacturing company produces goods by the process of manufacturing<br>and sells it.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is revenue and expenses?</strong><br>Ans: Revenue: Revenue means the money received from customers for sell of goods or services.<br>Expense: Expenses means payment of money for any service of goods purchase. It is an outflow<br>of money.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is depreciation and different types of depreciation?</strong><br>Ans: Depreciation in value of a fixed assets in known as depreciation.<br>Type of Depreciations:<br>· Straight line method<br>· Diminishing value method<br>· Annuity method<br>· Machine hour rate method etc.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is Contra Entry?</strong><br>Ans: Which accounting entry is recorded on both the debit and credit side of the<br>Cash book.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is Stock?</strong><br>Ans: Unsold item at the time of the period is called stock.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is Voucher?</strong><br>Ans: A documentary evidence in support of transaction is called a voucher.<br></p>



<p class="wp-block-paragraph"><strong>Q) What are bad debts?</strong><br>Ans: When amount is unrecovered from debtors it is known as bad debts.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is provision for bad debts?</strong><br>Ans: It is estimated loss which bad debts is an actual loss.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is accrued Income?</strong><br>Ans: Income which is a due but not received is called accrued income.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is ledger?</strong><br>Ans: It is a summarised record that contains all the accounts.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is Trial balance and why do we prepare it?</strong><br>Ans: Books are arithmetically correct; helps you prepare the final account.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is Capital?</strong><br>Ans: Which is invested by owner.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is Income Tax?</strong><br>Ans: Income tax is tax which is charges on income of a person/business.<br></p>



<p class="wp-block-paragraph"><strong>Q) What is deferred tax liability?</strong><br>Ans: Company may pay more tax in the future due to current transaction.<br></p>



<p class="has-text-align-justify wp-block-paragraph"><strong>Q) What are deferred revenue and expenses?</strong><br>Ans: Deferred Revenue: Money received before a service is performed or a product is delivered.<br>Deferred expenses: Payments made in advance for goods or services to be used in the future.</p>



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