Accounts Assistant/ Book Keeper Interview Questions and Answers in 2025 (100+ Q&A)

Ques:- What is opportunity cost,examples for current assets,turnover ratios

Asked In :- Questrade, campbell soup company, lloyd's of london, freedom financial network,

Right Answer:
Opportunity cost is the value of the next best alternative that is forgone when making a decision. For example, if a company uses cash (a current asset) to purchase inventory instead of investing it in a savings account, the opportunity cost is the interest income that could have been earned from the savings account.

Turnover ratios measure how efficiently a company uses its assets. Examples include:

1. **Inventory Turnover Ratio**: Indicates how many times inventory is sold and replaced over a period.
2. **Accounts Receivable Turnover Ratio**: Measures how effectively a company collects its receivables.
3. **Current Asset Turnover Ratio**: Shows how efficiently a company generates sales from its current assets.

Accounts Assistant/ Book Keeper Taxation

Ques:- Current tax slab, P.F , Prof. tax rates, Tally related etc.

Asked In :- Federal Bank India, escalon, IOOF, Margadarsi Chit Fund, andersen tax, ev, crowe horwath llp, citrin cooperman, mha macintyre hudson, bdo,

Right Answer:
As of the financial year 2023-2024, the current income tax slabs for individual taxpayers in India are as follows:

1. **New Regime**:
- Up to ₹2.5 lakh: Nil
- ₹2.5 lakh to ₹5 lakh: 5%
- ₹5 lakh to ₹7.5 lakh: 10%
- ₹7.5 lakh to ₹10 lakh: 15%
- ₹10 lakh to ₹12.5 lakh: 20%
- ₹12.5 lakh to ₹15 lakh: 25%
- Above ₹15 lakh: 30%

2. **Old Regime** (with deductions):
- Up to ₹2.5 lakh: Nil
- ₹2.5 lakh to ₹5 lakh: 5%
- ₹5 lakh to ₹10 lakh: 20%
- Above ₹10 lakh: 30%

**Provident Fund (PF)**:

Accounting Standard Accounts Assistant/ Book Keeper

Ques:- Cash flow, tally, warehouse etc

Asked In :- Constellation Software, Wipfli, MassMutual, guardian life, wema bank plc, clearwater analytics, sybrin limited, reynolds & reynolds inc., distinguished young women,

Right Answer:
Cash flow refers to the movement of money in and out of a business, tally is an accounting software used for bookkeeping and financial management, and warehouse management involves overseeing the storage and distribution of goods.

Accounting Standard Accounts Assistant/ Book Keeper

Ques:- MEANING OF ACCOUNTS

Asked In :- Markel Insurance, Nakilat, US Department of Veterans Affairs, Refract Consulting, rabobank,

Right Answer:
Accounts refer to the systematic recording, reporting, and analysis of financial transactions of a business or organization.

Accounts Assistant/ Book Keeper Reconcilation

Ques:- What is a Bank Reconciliation Statement?

Asked In :- The Gayatri Co-operative Urban Bank, silicon valley bank, dcb bank, canada life group insurance, gro intelligence,

Right Answer:
A Bank Reconciliation Statement is a document that compares and reconciles the bank balance shown in an organization's accounting records with the balance shown on the bank statement. It identifies any discrepancies between the two, such as outstanding checks, deposits in transit, or bank fees, to ensure that both records match.

Accounts Assistant/ Book Keeper Taxation

Ques:- What is Tax Deducted at Source (TDS)?

Asked In :- JSL, Doshi Accounting and Services, inland revenue nz, federal inland revenue service (firs), pwc middle east, ameriprise financial, kpmg sri lanka, personal capital, canada revenue agency, sage pastel accounting,

Right Answer:
Tax Deducted at Source (TDS) is a tax that is deducted at the source of income by the payer before making a payment to the payee. It is a way for the government to collect tax revenue at the time income is earned, rather than waiting for the taxpayer to file their tax return.

Accounting Software Accounts Assistant/ Book Keeper

Ques:- Do you know about tally 9.0-ERP

Asked In :- Offshore Accounting & Taxation Services, ABN AMRO, DataCore, Mother Dairy, H & R Johnson (India), MP Chitale & Co, Milestone Global, gsk, access bank plc, atb financial,

Right Answer:
Yes, Tally 9.0 ERP is an accounting software that helps in managing financial transactions, inventory, and payroll, and it provides features for taxation and reporting.

Accounts Assistant/ Book Keeper Reconcilation

Ques:- What is Reconciliation-NOSTRO,VOSTRO?

Asked In :- Corporate Finance Institute (CFI), tmf group, hindalco industries limited, nishith desai associates,

Right Answer:
Reconciliation refers to the process of ensuring that two sets of records (usually the balances of two accounts) are in agreement.

- **NOSTRO Account**: This is an account held by a bank in a foreign currency in another bank. It represents the bank's own funds held abroad.

- **VOSTRO Account**: This is an account held by a foreign bank in the domestic bank's currency. It represents the foreign bank's funds held locally.

In summary, NOSTRO accounts are for the bank's funds abroad, while VOSTRO accounts are for foreign banks' funds held domestically.

Accounts Assistant/ Book Keeper Reconcilation

Ques:- Y did we prepare BRS

Asked In :- West Bengal Co-operative Service Commission, Lion International Bank, pwc hong kong and mainland china, kpmg malaysia, norbrook laboratories ltd, orix, wealth-x, apex fund services (group) ltd.,

Right Answer:
We prepare a Bank Reconciliation Statement (BRS) to ensure that the cash balance in the company's books matches the balance shown in the bank statement, identifying any discrepancies due to errors, outstanding transactions, or timing differences.

Accounting Standard Accounts Assistant/ Book Keeper

Ques:- What is Form D2 and which Purpose we use that Form

Asked In :- Manba Finance, absa, dfas, zesco, capvision, orix metro leasing and finance,

Right Answer:
Form D2 is a document used in accounting to report and summarize the details of a company's transactions for tax purposes. It is typically used to declare the value-added tax (VAT) or goods and services tax (GST) collected and paid during a specific period.

Accounting Software Accounts Assistant/ Book Keeper

Ques:- In Tally what do you mean by cost centre?

Asked In :- Milliman India, Promantia Consulting LLP, Chambal Fertilisers, TTN, DCM Shriram, H & R Johnson (India), Nalco Water, Varma & Varma, Matrix Business Services India, SurePrep,

Right Answer:
In Tally, a cost centre is a specific department, project, or location within a business where costs can be tracked and managed separately to analyze financial performance.

Accounts Assistant/ Book Keeper Aptitude

Ques:- Any Recent Movie you Saw Tell Me Story in Short ?

Asked In :- DFO, CARE Ratings, Canara HSBC Oriental Bank of Commerce Life Insurance Co, Markel Insurance, KOICA, iServeU (India), Ocwen, sharekhan, ok zimbabwe limited, societe generale corporate & investment banking,

Right Answer:
I recently watched "The Batman." The story follows Bruce Wayne, who fights crime in Gotham City as Batman. He investigates a series of murders committed by the Riddler, a mysterious villain. Along the way, he uncovers corruption in the city and learns more about his family's past. With the help of allies like Catwoman and Commissioner Gordon, Batman seeks to bring justice to Gotham while facing his own inner demons.

Accounts Assistant/ Book Keeper Tax Assessment

Ques:- WHERE WE HAVE TO TAKE TDS RECEIVABLES IN THE BALANCE SHEET OR P&LA/C ?

Asked In :- Bangladesh Securities and Exchange Commission BSEC, ClearBank, american family insurance, ubl,

Right Answer:
TDS receivables should be taken in the Balance Sheet as an asset.

Accounting Software Accounts Assistant/ Book Keeper

Ques:- How can we call webservices in Banking Applications? andwhere we are using it?

Asked In :- NISC Exports Services (p), Ashiana Housing, SpiceJet, Tax Assistant, Novel Office, Suryoday Small Finance Bank, H & R Johnson (India), SurePrep, Finonyx, Doshi Accounting and Services,

Right Answer:
Web services in banking applications can be called using APIs (Application Programming Interfaces) that allow different systems to communicate over the internet. They are used for various functions such as processing transactions, retrieving account information, integrating with third-party services, and enabling mobile banking features.

Accounts Assistant/ Book Keeper Tax Assessment

Ques:- If salary paid per month Rs 40000/ I will deduct TDS from his salary, please what I do explain.(send Urgently)

Asked In :- Consero Global Solutions, easyfinancial, Newcastle Permanent, synchrony financial, college of the ozarks, piramal pharma solutions, asian infrastructure investment bank, eon energy, producers savings bank corporation, link group (lnk),

Right Answer:
To deduct TDS from a salary of Rs 40,000 per month, follow these steps:

1. Determine the applicable TDS rate based on the employee's income tax slab.
2. Calculate the annual salary: Rs 40,000 x 12 = Rs 480,000.
3. Deduct any eligible exemptions or deductions (like under Section 80C).
4. Apply the TDS rate to the taxable income to find the monthly TDS amount.
5. Deduct this TDS amount from the salary before payment.
6. Deposit the deducted TDS with the government and provide a TDS certificate to the employee.

Make sure to stay updated on the current tax laws and rates.

Accounts Assistant/ Book Keeper Reconcilation

Ques:- WHAT IS THE RECONSILLATION ACCOUTNWHAT IS THE NEED OF RECONSILLATION AND WHERE IT EFFECTEDCAN WE MANINTAIN CUSTOMER AND VENDOR MASTER RECORD WITHOUT RECONSILLATION ACCOUNT.

Asked In :- International Criminal Court (ICC), aster dm healthcare, medplus, deallus consulting, shubhashray housing india,

Right Answer:
A reconciliation account is a general ledger account that consolidates and summarizes the balances of sub-ledgers, such as accounts receivable and accounts payable. The need for reconciliation is to ensure that the financial records are accurate and consistent between different accounts and systems. It affects financial reporting and helps identify discrepancies. Yes, customer and vendor master records can be maintained without a reconciliation account, but it is not recommended as it may lead to inaccuracies in financial reporting.

Accounts Assistant/ Book Keeper Aptitude

Ques:- Was Manmohan Singh the governor of RBI?

Asked In :- CONDUENT BUSINESS SERVICES INDIA LLP, Chambal Fertilisers, InvestoSure, Truist, sedemac mechatronics, symmetry financial group, wbi, chargeback, global mobility tax, llp,

Right Answer:
No, Manmohan Singh was not the governor of RBI.

Accounts Assistant/ Book Keeper Reconcilation

Ques:- Bank reconcliation statement.

Asked In :- qmax, kaufland,

Right Answer:
A bank reconciliation statement is a document that compares a company's bank statement with its own financial records to identify any discrepancies between the two. It ensures that the amounts recorded in the company's books match the amounts reported by the bank, helping to identify errors, omissions, or fraudulent transactions.

Accounts Assistant/ Book Keeper Tax Assessment

Ques:- What is TDS? Please explain rate of TDS.

Asked In :- Dataflow Learning, ameriprise financial, gsd, sydney trains,

Right Answer:
TDS stands for Tax Deducted at Source. It is a tax that is deducted from payments made to individuals or businesses, such as salaries, interest, or professional fees, before the payment is made. The rate of TDS varies depending on the type of payment and the recipient's status, with rates typically ranging from 1% to 40% as per the Income Tax Act in India.

Accounting Standard Accounts Assistant/ Book Keeper

Ques:- What are the 3 Basic Rules in Accounting.

Asked In :- MAHINDRA HOLIDAYS AND RESORTS INDIA LIMITED, Macquarie Infrastructure and Real Assets, hdfc ergo general insurance, praxis business school,

Right Answer:
The three basic rules in accounting are:

1. **Debit the receiver, credit the giver** - This applies to personal accounts.
2. **Debit what comes in, credit what goes out** - This applies to real accounts.
3. **Debit all expenses and losses, credit all incomes and gains** - This applies to nominal accounts.

An Accounts Assistant / Book Keeper plays a crucial role in maintaining accurate financial records for businesses. Their responsibilities include recording daily transactions, managing ledgers, reconciling bank statements, preparing invoices, handling petty cash, and supporting senior accountants during audits and report preparation.

These professionals use accounting software such as Tally, QuickBooks, or Zoho Books to enter data and generate reports. They must also ensure compliance with tax laws, GST, and TDS regulations where applicable. Accuracy, attention to detail, and understanding of basic accounting principles are essential skills in this role.

Accounts Assistants are typically the backbone of a company’s finance department. They support budgeting processes, assist in preparing balance sheets and profit-loss accounts, and track receivables and payables. They often interact with vendors and clients for payment-related queries.

This role is ideal for commerce graduates or diploma holders in finance and accounts. Practical knowledge of MS Excel, spreadsheets, and taxation portals is a plus. Whether in small firms or large corporations, their role is foundational to maintaining financial transparency and compliance.

Questions in: Accounts Assistant/ Book Keeper

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