Accountant interview questions and answers for freshers. The list includes some of the frequently asked questions during interviews.
A useful blog for all the candidates belonging to the Commerce stream. Specially, for all those who are looking for the position of an Accountant. That’s because, we will be going through a set of Accountant interview questions and answers for freshers. These would help the career aspirants, to crack the interviews as these are frequently asked ones.
Accountant Interview Questions and Answers For Freshers:
List out the various accounting concepts
In simple terms, Accounting concepts are the basic assumptions based on which, the process of accounting revolves.
Listed below are the different accounting concepts-
– Cost Concept
– Business Entity Concept
– Matching Concept
– Accounting Period Concept
– Money Measurement Concept
– Dual Aspect Concept
– Going Concern Concept
What do you mean by a Deferred Revenue Expenditure? Explain with example
Yet another of the basic accountant interview questions and answers for freshers.
Deferred Revenue Expenditure is a sort of expenditure, that does not end into the acquisition of any of the fixed asset and the benefits obtained from such expenditure gotten amid the duration which they are paid for.
E.g.: Initial Advertisement Expenditure, Preliminary Expenses etc.
What are real accounts and nominal accounts? Illustrate with examples
Nominal Account is related to incomes or expenses.
E.g. A few types of Nominal Accounts are mentioned below:
– Salary Account
– Wages Account
– Interest Paid/Received Account
– Commission Paid/Received Account
– Telephone Expenses Account
Real Account is an account concerned with assets and liabilities
Some examples of Real accounts are as follows:
– Land Account
– Goodwill Account
– Building Account
– Furniture Account
– Machinery Account
Apart from this, below is a list of a few more questions, from the interview questions and answers for Accountant freshers.
- What do you mean by owner’s equity? How can you calculate it?
- Explain the difference between Trade and Cash discount?
- What do you mean by Contingent Liabilities?
- Explain the relation between a ledger and a journal?
- What does the term Person comprise of?
- What types of incomes are exempted under sec. 10 of the Act?
- Define the term Gratuity
With this, we are done with the list of Accountant Interview Questions and Answers for Freshers, for now. We might see a few more some time later. Till then, you can go for basic interview questions and answers for freshers or common interview questions and answers for freshers.