Find Interview Questions for Anand rathi securities

Right Answer:
To pay service tax, follow these steps:

1. Determine the service tax amount based on the taxable services provided.
2. Generate a challan using the GST portal or the designated bank.
3. Pay the service tax through online payment or at a bank.
4. File the service tax return (ST-3) quarterly or annually, as applicable.

For VAT:

1. Calculate the VAT based on the sales made.
2. Prepare the VAT return form as per state regulations.
3. Pay the VAT through the state’s designated payment channels.
4. Submit the VAT return by the due date.

Right Answer:
I have [insert number] years of experience in the accounts field.

Right Answer:
1. Verify the invoice details against the purchase order.
2. Check for receipt of goods or services.
3. Confirm the accuracy of the invoice amounts and terms.
4. Ensure proper approvals are obtained from relevant departments.
5. Review for any discrepancies or issues.
6. Ensure compliance with company policies and procedures.

Right Answer:
In accounting, "relax" typically refers to the process of easing or reducing certain financial constraints or requirements, such as payment terms or credit limits, to improve cash flow or customer relations.

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Accounts Receivable refers to the money owed to a company by its customers for goods or services delivered, while Accounts Payable refers to the money a company owes to its suppliers or creditors for purchases made.

Right Answer:
To ensure that financial reports adhere to ethical accounting principles, I follow these steps:

1. Maintain transparency by providing clear and accurate information.
2. Adhere to relevant accounting standards and regulations.
3. Implement internal controls to prevent fraud and errors.
4. Foster a culture of integrity and ethical behavior within the team.
5. Regularly review and audit financial reports for compliance and accuracy.

Right Answer:
Generally Accepted Accounting Principles (GAAP) are the accounting standards used in the United States, while International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) are used in many other countries. The relationship between them is that both aim to provide a framework for financial reporting, but they differ in specific rules and guidelines. Efforts are ongoing to converge GAAP and IFRS to create a more unified global accounting standard.

Right Answer:
The Economic Entity Assumption states that a business's financial activities must be kept separate from its owners' personal financial activities. This ensures that the financial statements reflect only the business's performance and position, providing clear and accurate information for decision-making.

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The Cost Principle states that assets should be recorded and valued at their original purchase cost, not their current market value. This means that the value of an asset on the balance sheet reflects the amount paid for it, which influences how assets are reported and affects financial statements.

Right Answer:
The Going Concern Principle assumes that a business will continue to operate for the foreseeable future, which affects financial reporting by requiring assets and liabilities to be valued based on their ongoing use rather than liquidation values. This principle ensures that financial statements reflect the company's ability to continue its operations, impacting how revenues and expenses are recognized.

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Yes, I have worked with Tally and other accounting software such as QuickBooks and Zoho Books.

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Yes, I am familiar with Tally ERP 9.

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Final accounts are the financial statements prepared at the end of an accounting period, which typically include the income statement, balance sheet, and cash flow statement. They summarize the financial performance and position of a business.

Right Answer:
Tally is an accounting software that helps businesses manage their financial transactions, inventory, and compliance with tax regulations. It is known for its user-friendly interface and features like invoicing, payroll, and reporting. Other accounting software options include QuickBooks, Zoho Books, and Sage, each offering various functionalities tailored to different business needs.

Right Answer:
Yes, I am proficient in Excel and can use it for various accounting tasks such as data entry, creating spreadsheets, and performing calculations.

Right Answer:
The difference in their times taken to reach the destination would be 30 minutes.

Right Answer:
The golden rule of accounting is: "Debit the receiver, credit the giver."

Right Answer:
The profit percent made by selling the article at the certain price is 20%.

Right Answer:
The two most basic financial statements prepared by companies are the Income Statement and the Balance Sheet.

Right Answer:
The cistern holds 48 liters.