Senior Accountant Interview Questions and Answers in 2025 (100+ Q&A)

Management Accounting Senior Accountant

Ques:- In two periods total costs amounts to Rs 50000 and Rs 40000 against production of 20000 and 15000 units respectively. Determine marginal cost per unit and fixed cost.

Asked In :- proximity,

Right Answer:
Marginal cost per unit is Rs 2.00, and fixed cost is Rs 10,000.

Comments

Smriti jaiswal Jul 17, 2021

Rs 2 and Rs 10,000

DK BOSS Jul 16, 2021

Rs 2 and Rs 10,000

Management Accounting Senior Accountant

Ques:- The simple interest on a sum of money is 1/9 th of the sum and the number of years and the rate per cent per annum are equal. What is the rate per cent per annum?

Asked In :- ghana cocoa board, gkp,

Right Answer:
The rate per cent per annum is 10%.

Accounting Senior Accountant

Ques:- What are the four classifications of Bad and Doubtful Debts as per the context of the Bank?

Asked In :- kpmg malta, albany beck,

Right Answer:
The four classifications of Bad and Doubtful Debts as per the context of the Bank are:

1. Standard Assets
2. Sub-Standard Assets
3. Doubtful Assets
4. Loss Assets

Accounting Senior Accountant

Ques:- True or False: Cash budget helps in the formulation of suitable dividend policy.

Asked In :- azets, hong kong exchanges and clearing limited (hkex), bu finance & investment club student managed investment fund, dmi finance private limited,

Right Answer:
True.

Accounting Senior Accountant

Ques:- Why Accounting is important in business?

Asked In :- Varma & Varma, Sushi Train, state of florida, kreston reeves,

Right Answer:
Accounting is important in business because it provides a systematic way to record, analyze, and report financial transactions, helping businesses track their performance, make informed decisions, ensure compliance with regulations, and communicate financial health to stakeholders.

Accounting Senior Accountant

Ques:- What is Unredeemed interest?

Asked In :- bu finance & investment club student managed investment fund,

Right Answer:
Unredeemed interest refers to the interest that has accrued on a bond or loan but has not yet been paid to the bondholder or lender.

Accounting Senior Accountant

Ques:- What do you understand by the Provision? What is the Entry for Provision?

Asked In :- neuberger berman, manitoba liquor & lotteries corporation, euronet software solutions,

Right Answer:
A provision is an amount set aside from profits to cover a future liability or expense that is uncertain in timing or amount. The journal entry for creating a provision is:

**Debit:** Expense Account
**Credit:** Provision Account (Liability)

Accounting Senior Accountant

Ques:- List out the functions of accounting?

Asked In :- LIGHT PHARMA, Bapco Bahrain Petroleum Company, Serum Institute Of India, sharekhan, equitable bank, ernest jones,

Right Answer:
1. Recording financial transactions
2. Classifying financial data
3. Summarizing financial information
4. Analyzing financial results
5. Reporting financial performance
6. Ensuring compliance with regulations
7. Assisting in budgeting and forecasting
8. Providing information for decision-making

Management Accounting Senior Accountant

Ques:- Tell the difference between Accounts and Finance?

Asked In :- Revenue Assurance Services, cnk & associates llp,

Right Answer:
Accounts primarily focus on recording, classifying, and summarizing financial transactions, while finance involves managing assets, investments, and liabilities to maximize value and ensure financial stability.

Management Accounting Senior Accountant

Ques:- Define an operative accounts?

Asked In :- securian financial group,

Right Answer:
Operative accounts are accounts that are actively used in the day-to-day operations of a business, typically including revenue, expenses, assets, and liabilities that directly impact the financial performance and position of the company.

Accounting Senior Accountant

Ques:- The assessment of financial statements by a shareholder is an example of which analysis?

Asked In :- AvenDATA GmbH, Bajaj Finserv Lending, London Stock Exchange Group, HOOPP, FLO, devere group, fitch solutions, tokio marine insurance group,

Right Answer:
Vertical analysis.

Accounting Senior Accountant

Ques:- Cash Flow Statement is also known as?

Asked In :- RWE Supply & Trading, JOCATA FINANCIAL ADVISORY & TECHNOLOGY SERVICES, natixis, hsbc commercial banking, findex,

Right Answer:
Cash Flow Statement is also known as the Statement of Cash Flows.

Management Accounting Senior Accountant

Ques:- A company produces and sells three types of products namely X, Y and Z. Total sales per month is Rs 60,000 in which the share of these three goods are 40%, 40% and 20% respectively. Variable costs of these three goods are 40%, 50% and 60% respectively. Compute combined P/V ratio.

Asked In :- cnk & associates llp, sari sari store,

Right Answer:
Combined P/V ratio = 25%

Accounting Senior Accountant

Ques:- What is the use of Absorption costing?

Asked In :- zehrs, Millennium Management (Investment Firm), ria financial, flow traders, lodha & co., columbia shipmanagement, 340b health,

Right Answer:
Absorption costing is used to capture all manufacturing costs, both fixed and variable, in the cost of a product. This method helps in determining the total cost of production and is essential for inventory valuation and financial reporting.

Management Accounting Senior Accountant

Ques:- Given Sales is 1,20,000 and Gross Profit is 30,000, the gross profit ratio is

Asked In :- CARE Ratings, Kirtane & Pandit,

Right Answer:
The gross profit ratio is 25%.

Accounting Senior Accountant

Ques:- The receipts from cash sales, advance from customers, collection from debtors and bills receivable are called?

Asked In :- S S Kothari Mehta & Co, mercury insurance, fairstone, ipac, sberbank,

Right Answer:
Cash inflows.

Accounting Senior Accountant

Ques:- True or False: In make or buy decision, marginal costs as well as additional fixed costs are the factors to be considered.

Asked In :- Zaggle, Vested Finance, offshore, fraternal order of eagles,

Right Answer:
True.

Management Accounting Senior Accountant

Ques:- During the year, a business was bought by issue of Rs 25,000 debentures and Rs 25,000 shares. The business bought had machine worth Rs 20,000, Debtors Rs 15,000, Stock Rs 5,000 and Creditors Rs 5,000. Determine the effect of this transaction on flow of funds.

Asked In :- Vertace Consultants, moss adams llp, britam, equity methods,

Right Answer:
The effect of this transaction on the flow of funds is an inflow of Rs 50,000 (from debentures and shares) and an outflow of Rs 35,000 (for assets minus liabilities: Rs 20,000 + Rs 15,000 + Rs 5,000 - Rs 5,000). Therefore, the net effect on the flow of funds is an inflow of Rs 15,000.

Comments

DK BOSS Jul 17, 2021

Net inflow of Rs 15,000

Management Accounting Senior Accountant

Ques:- A box manufacturer discovers that while it costs Rs 6.25 per unit to make a component T the same is available in the market at Rs 5.75 each. There is reliability of regular supply. The breakdown of costs is materials is Rs 2.75 per unit, Labor is Rs 1.75 per unit, Other variable expenses is Rs 0.50 and depreciation and other fixed costs is Rs 1.25. Will you make or buy?

Asked In :- tata chemicals, symmetry financial group,

Right Answer:
Buy the component T, as it is cheaper at Rs 5.75 compared to the manufacturing cost of Rs 6.25.

Accounting Senior Accountant

Ques:- What is the meaning of TDS? How it is charged?

Asked In :- idfc bank, sendik's food market, ccil, creditmantri, continental,

Right Answer:
TDS stands for Tax Deducted at Source. It is a tax that is deducted by the payer at the time of making certain payments, such as salaries, interest, or professional fees, and is then deposited with the government. The rate of TDS varies depending on the type of payment and the applicable tax laws.

Questions in: Senior Accountant

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