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Hc global fund services, llc Interview Questions and Answers
Ques:- Who are resident but not ordinary resident?
Right Answer:
A resident but not ordinary resident is an individual who meets the residency criteria in a country but does not satisfy the conditions to be considered an ordinary resident, typically due to limited stay or specific circumstances that indicate they do not intend to reside there permanently.
Ques:- What is the limite of deducted of WCT & how we fill the return in Haryana
Right Answer:
In Haryana, the limit for the deduction of Works Contract Tax (WCT) is typically 2% for contractors and 1% for sub-contractors. The return is filed using Form WCT-1, which must be submitted quarterly along with the payment of the tax.
Ques:- What are the items that are to be debited in accounting and what are the items that are to be credited in accounting?
Right Answer:
In accounting, the items that are to be debited include assets, expenses, and losses. The items that are to be credited include liabilities, income, and gains.
Ques:- What experience do you have in ERP?
Right Answer:
I have experience using ERP systems for managing financial data, streamlining processes, and generating reports. I am familiar with modules like accounting, inventory management, and procurement, and I have worked on implementing and customizing ERP solutions to meet business needs.
Ques:- What is provision for bad debt?
Right Answer:
Provision for bad debt is an accounting estimate that recognizes the amount of accounts receivable that may not be collected due to customers defaulting on their payments. It is recorded as an expense on the income statement and reduces the value of accounts receivable on the balance sheet.
Ques:- TALLY 7.2 , TALLY .09 AND TALLY ERP-9
Right Answer:
Tally 7.2 is an older version focused on basic accounting features. Tally 9 introduced more advanced features like inventory management and enhanced reporting. Tally ERP 9 further expanded functionalities with features for GST compliance, remote access, and multi-user capabilities, making it suitable for larger businesses.
Ques:- Know about Tally
Right Answer:
Tally is an accounting software used for financial management, including bookkeeping, inventory management, and tax compliance. It helps businesses manage their accounts, generate financial reports, and streamline various accounting processes.
Ques:- How to depict dependency in Ms Project?
Right Answer:
To depict dependency in MS Project, you can link tasks by selecting the tasks you want to connect, then clicking on the "Link Tasks" button in the toolbar or using the shortcut Ctrl + F2. This creates a finish-to-start dependency by default. You can also adjust the type of dependency (finish-to-start, start-to-start, finish-to-finish, or start-to-finish) by double-clicking on the task and modifying the "Predecessors" tab.
Ques:- Given Data for doing different formats like pivot, and matching the data for another data
Right Answer:
To analyze data for different formats like pivot tables and matching datasets, you should:

1. **Identify Key Variables**: Determine the key fields that will be used for matching and pivoting.
2. **Clean the Data**: Ensure that the data is free from duplicates, errors, and inconsistencies.
3. **Use Pivot Tables**: Create pivot tables to summarize and analyze the data by aggregating values based on categories.
4. **Match Data**: Use functions like VLOOKUP or JOIN operations in SQL to match data from different sources based on the identified key variables.
5. **Validate Results**: Check the accuracy of the matched data and the pivot table outputs to ensure they meet business requirements.
Ques:- Explain in brief about the Documentation – CFD, DFD, Functional Documentation.
Right Answer:
**CFD (Context Flow Diagram)**: A high-level diagram that shows the flow of information between external entities and the system, helping to define system boundaries and interactions.

**DFD (Data Flow Diagram)**: A visual representation that illustrates how data moves through a system, detailing processes, data stores, and data flows, typically used to analyze and design systems.

**Functional Documentation**: A comprehensive document that outlines the functionalities of a system, including requirements, use cases, and specifications, serving as a guide for development and testing.
Ques:- What factors affect working capital requirement?
Right Answer:
The factors that affect working capital requirement include:

1. **Nature of Business**: Different industries have varying working capital needs.
2. **Business Cycle**: Economic conditions can influence sales and inventory levels.
3. **Seasonality**: Seasonal fluctuations in demand can impact inventory and cash flow.
4. **Credit Policy**: The terms offered to customers can affect accounts receivable.
5. **Inventory Management**: Levels of inventory held can influence cash tied up in stock.
6. **Supplier Terms**: Payment terms with suppliers can affect cash outflows.
7. **Sales Volume**: Higher sales typically require more working capital.
8. **Operational Efficiency**: Efficient operations can reduce the need for working capital.
9. **Market Conditions**: Competitive pressures can impact pricing and sales.
10. **Growth Rate**: Rapid growth may require additional working capital to support expansion.
Ques:- A cistern has a leak which would empty the cistern in 20 minutes. A tap is turned on which admits 4 liters a minute into the cistern, and it is emptied in 24 minutes. How many liters does the cistern hold?
Right Answer:
The cistern holds 48 liters.
Ques:- What are the two most basics financial statements prepared by the companies?
Right Answer:
The two most basic financial statements prepared by companies are the Income Statement and the Balance Sheet.
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