Accountant/ Accounts Executive Interview Questions and Answers in 2025 (100+ Q&A)

Accountant/ Accounts Executive Accounting Standard

Ques:- What are important steps to take during the conversion of an accounting system?

Asked In :- KAS, vatica health,

Right Answer:
1. Assess current accounting processes and systems.
2. Define goals and requirements for the new system.
3. Select the appropriate accounting software.
4. Plan the conversion timeline and budget.
5. Clean and organize existing data for migration.
6. Train staff on the new system.
7. Test the new system with sample data.
8. Go live with the new system.
9. Monitor and support users post-conversion.

Accountant/ Accounts Executive Aptitude

Ques:- To permit operations of private life insurance companies in India, Government of India revised the Insurance Regulatory and Development Authority (IRDA) Act in the year 1992 1983 2004 2001?

Asked In :- SBI Life Insurance, Gleacher Shacklock, andersen tax, ldc,

Right Answer:
2000

Accountant/ Accounts Executive Aptitude

Ques:- IN which year planning commission was set up in Independent India

Asked In :- Accord Management, st john of god health care, concern worldwide, cag, acumatica,

Right Answer:
The Planning Commission was set up in Independent India in the year 1950.

Accountant/ Accounts Executive Aptitude

Ques:- Examine the role of money, as a significant motivator, in the present inflationary conditions.

Asked In :- Arbuthnot Latham, Coopland & Son (Scarborough), bajaj capital ltd, bergen county academies, walton group, millennium capital,

Right Answer:
In inflationary conditions, money serves as a significant motivator because it affects purchasing power. As prices rise, individuals and businesses need more money to maintain their standard of living and cover costs. This can drive demand for higher wages and increased sales, motivating people to work harder or seek better-paying jobs to keep up with inflation. Additionally, businesses may be motivated to raise prices to maintain profit margins, further influencing economic behavior.

Accountant/ Accounts Executive Accounting Standard

Ques:- What is the diff btw charge and appropriation

Asked In :- Bidfood, IG Wealth Management, Bank of Singapore, PHCN, federal reserve bank of st. louis, azets, moneylion, amadeus, freo,

Right Answer:
A charge refers to an expense or cost that is deducted from income, while appropriation refers to the allocation of profits or reserves for specific purposes, such as dividends or reinvestment.

Accountant/ Accounts Executive Aptitude

Ques:- Arrange these 13 Alphabets into 3 Love Words?

Asked In :- Niper, Mecca Bingo, Price Bailey, ICBC (Canada), canfor, marketaxess, cosec,

Right Answer:
LOVE, HATE, CARE

Accountant/ Accounts Executive Tax Assessment

Ques:- When calculating tds on a service bill ,TDS need to be calclated on “Base Amount” or “Base Amount”+ “Service tax” ?please answer with relevant provision

Asked In :- PCO, al ansari exchange, rede partners llp,

Right Answer:
TDS should be calculated on the "Base Amount" only, excluding the "Service Tax." This is in accordance with Section 194J of the Income Tax Act, which specifies that TDS is to be deducted on the amount paid for professional or technical services, not including any service tax.

Account Payble Accountant/ Accounts Executive

Ques:- What is the full form of SOX in accounts?

Asked In :- OCCL, SAP Concur, dcb bank, galatea associates,

Right Answer:
The full form of SOX in accounts is Sarbanes-Oxley Act.

Account Payble Accountant/ Accounts Executive

Ques:- How is a PO (Purchase order created)?

Asked In :- investec, fis,

Right Answer:
A Purchase Order (PO) is created by a buyer when they identify a need for goods or services. The process typically involves the following steps:

1. Identify the need for products or services.
2. Select a supplier or vendor.
3. Create a PO document that includes details like item descriptions, quantities, prices, and delivery dates.
4. Submit the PO to the supplier for confirmation.
5. Receive confirmation from the supplier, which may include any adjustments or agreements.

Once confirmed, the PO serves as a legally binding contract between the buyer and the supplier.

Account Payble Accountant/ Accounts Executive

Ques:- Wat is BEP in Cost Accounting?

Asked In :- Hatsun Agro Product, capitec bank, appasamy associates, stelco, pedabo,

Right Answer:
BEP stands for Break-Even Point in Cost Accounting, which is the level of sales at which total revenues equal total costs, resulting in neither profit nor loss.

Account Payble Accountant/ Accounts Executive

Ques:- What is chargeback?

Asked In :- IMFA, cib egypt, hindalco industries limited, eis, distinguished young women,

Right Answer:
A chargeback is a reversal of a payment made by a customer to their bank or credit card company, usually due to disputes over a transaction, such as fraud or dissatisfaction with a product or service.

Accountant/ Accounts Executive Audit

Ques:- Explain how to do an internal audit effectively?

Asked In :- TTN, Ebury Partners, SAICA, AllOptions, Accordion, The Hasti Co-Op Bank, NatWest Group, kpmg canada, european investment bank, al fardan exchange,

Right Answer:
To conduct an internal audit effectively, follow these steps:

1. **Define Objectives**: Clearly outline the goals of the audit.
2. **Plan the Audit**: Develop a detailed audit plan, including scope, resources, and timelines.
3. **Gather Information**: Collect relevant data and documents related to the processes being audited.
4. **Conduct Fieldwork**: Perform the audit by examining records, interviewing staff, and observing operations.
5. **Evaluate Findings**: Analyze the information to identify discrepancies, risks, and areas for improvement.
6. **Report Results**: Prepare a clear and concise report detailing findings, conclusions, and recommendations.
7. **Follow Up**: Ensure that management addresses the recommendations and monitor the implementation of corrective actions.

Account Payble Accountant/ Accounts Executive

Ques:- What is the types of assets?

Asked In :- Everest Bank, Bidfood, Susquehanna International Group (SIG), butterfield bank, global mobility tax, llp,

Right Answer:
The types of assets are:

1. Current Assets
2. Fixed Assets
3. Intangible Assets
4. Financial Assets
5. Operating Assets
6. Non-Operating Assets

Accountant/ Accounts Executive Cost Accounting

Ques:- Tell me the information about cost sheets.

Asked In :- Wonder Cement, Prakash Kochar & Co, Savantis, B G Shirke Group, zehrs, Modulr, Estee Lauder Companies, polycab, hochtief(india) pvt ltd,

Right Answer:
A cost sheet is a document that outlines the total costs associated with producing a product or providing a service. It typically includes direct costs (like materials and labor), indirect costs (like overhead), and fixed and variable costs. Cost sheets help in determining the cost per unit, setting prices, and analyzing profitability.

Account Payble Accountant/ Accounts Executive

Ques:- What steps would you take before making a payment?

Asked In :- P C Chandra Jewellers, Burlington Stores, qbe insurance, worldremit,

Right Answer:
1. Verify the invoice for accuracy (amount, date, and vendor details).
2. Ensure the goods or services were received as per the purchase order.
3. Check for any discrepancies or issues with the invoice.
4. Obtain necessary approvals from relevant stakeholders.
5. Confirm that the payment terms are met.
6. Review the budget to ensure funds are available.
7. Process the payment through the accounting system.
8. Document the payment for record-keeping.

Accountant/ Accounts Executive Audit

Ques:- What are the different advantages and disadvantages of internal audit?

Asked In :- Everest Bank, Excise Department, TTN, BSI Group, EisnerAmper, GRT Jewellers, Mahagenco, bny mellon, mankind pharma ltd, mercury insurance,

Right Answer:
**Advantages of Internal Audit:**
1. Improves risk management and control processes.
2. Enhances operational efficiency and effectiveness.
3. Provides assurance on compliance with laws and regulations.
4. Identifies areas for cost savings and process improvements.
5. Strengthens governance and accountability within the organization.

**Disadvantages of Internal Audit:**
1. Can be perceived as intrusive by employees.
2. May lead to resistance or lack of cooperation from staff.
3. Requires resources, including time and personnel, which can be costly.
4. Potential for bias if internal auditors are too close to the operations.
5. Findings may not always lead to immediate action or improvement.

Accountant/ Accounts Executive Audit

Ques:- What are the basic principles of an internal audit controlsystem?

Asked In :- Bank AL Habib, CPCL, Kirtane & Pandit, Price Bailey, UCC Coffee, Team Ferro Alloys, The Gayatri Co-operative Urban Bank, The Krishna District Co-operative Central Bank, MassMutual, bny mellon,

Right Answer:
The basic principles of an internal audit control system include:

1. **Independence**: Auditors should be independent from the operations they audit.
2. **Objectivity**: Auditors must remain impartial and unbiased in their assessments.
3. **Systematic Approach**: Audits should follow a structured and methodical process.
4. **Risk Assessment**: Identifying and evaluating risks to determine audit focus.
5. **Evidence-Based**: Findings should be supported by sufficient and relevant evidence.
6. **Continuous Improvement**: The system should promote ongoing enhancements to processes.
7. **Compliance**: Ensuring adherence to laws, regulations, and internal policies.
8. **Communication**: Clear reporting of findings and recommendations to management.

Accountant/ Accounts Executive Cost Accounting

Ques:- What is the A Level?

Asked In :- Bobst India, CPCL, Gujarat Alkalies and Chemicals GACL, south african institute of professional accountants (saipa), uganda wildlife authority, teemage precast - india,

Right Answer:
A Level refers to the standard of education in the UK, typically taken by students aged 16-18, which can influence university admissions. In cost accounting, it can also refer to the level of detail in cost reporting or analysis.

Accountant/ Accounts Executive Audit

Ques:- What are the importance of internal audit to the organization?

Asked In :- Junior Assistant, PRGX Global, Mecca Bingo, Bank Negara, OSFI, V Singhi & Associates, South Pole Carbon Asset Management, Gopinath Patil Parsik Janata Sahakari Bank, Mcb Bank, hdfc bank,

Right Answer:
Internal audits are important to an organization because they help ensure compliance with laws and regulations, assess the effectiveness of internal controls, identify areas for improvement, enhance operational efficiency, provide assurance to management and stakeholders, and help mitigate risks.

Accountant/ Accounts Executive Audit

Ques:- What Does An Internal Audit Charter Contain?

Asked In :- Bank AL Habib, DFO, Rajkot Nagarik Sahakari Bank, IBG Fincon, Balaji Group, Ra Chem Pharma Ltd, hamad medical corporation, mercury insurance, concern worldwide, reserve bank of australia,

Right Answer:
An Internal Audit Charter typically contains the following elements:

1. Purpose and mission of the internal audit function.
2. Authority and responsibility of the internal audit department.
3. Scope of internal audit activities.
4. Independence and objectivity requirements.
5. Reporting structure and communication protocols.
6. Standards and guidelines to be followed.
7. Roles and responsibilities of the internal audit staff.
8. Relationship with the audit committee and management.

The Accountant / Accounts Executive category on takluu.com is designed for professionals responsible for maintaining accurate financial records, handling accounts payable and receivable, and supporting financial audits. These roles are critical for the smooth functioning of an organization’s finance department.

This section covers essential topics including journal entries, ledger posting, bank reconciliation, invoicing, payroll processing, taxation basics, and preparation of financial statements. Interview questions also test knowledge of accounting principles (GAAP/IFRS), compliance regulations, and use of accounting software like Tally, QuickBooks, or SAP.

Candidates preparing for positions such as Junior Accountant, Accounts Executive, Finance Assistant, or Bookkeeper will find curated interview questions, practical scenarios, and tips on managing day-to-day accounting tasks efficiently.

Interviewers typically assess your accuracy, attention to detail, and understanding of financial processes. You may be asked to explain how you handle reconciliations, manage expense reports, or ensure timely submission of tax filings.

At Takluu, we provide detailed study materials and example questions to help you build confidence and demonstrate your competence in interviews.

Whether you are a fresher starting your career or an experienced professional seeking advancement, this category offers comprehensive preparation to help you succeed in accounting roles.

Questions in: Accountant/ Accounts Executive

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