Find Interview Questions for Repco home finance ltd

Right Answer:
The different branches of accounting are:

1. Financial Accounting
2. Managerial Accounting
3. Cost Accounting
4. Tax Accounting
5. Auditing
6. Forensic Accounting
7. Government Accounting
8. Nonprofit Accounting

Right Answer:
The fourth book of Kautilya's Arthashastra deals with "Establishing a King’s Authority."

Right Answer:
Share capital refers to the funds raised by a company through the issuance of shares to investors. It represents ownership in the company and can be classified into equity shares and preference shares. Reserves and surpluses are portions of a company's profits that are retained for future use rather than distributed as dividends. Reserves can be designated for specific purposes, while surpluses are generally retained earnings that can be used for reinvestment or to strengthen the company's financial position.

Right Answer:
The Inbound Process refers to the procedures involved in receiving goods or materials into a warehouse or inventory system. This includes activities such as receiving shipments, inspecting items for quality and quantity, recording them in the inventory system, and storing them in designated locations.

Right Answer:
My responsibilities in accounts receivable include managing customer invoices, tracking payments, reconciling accounts, following up on overdue payments, maintaining accurate records, and ensuring compliance with accounting policies and procedures.

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.

Right Answer:
The Substance Over Form Principle means that the economic reality of a transaction should be reflected in financial statements, rather than just its legal form. This means recognizing the true nature of the transaction, such as treating a lease as a purchase if it effectively transfers ownership rights, ensuring that financial reporting accurately represents the underlying economic situation.

Right Answer:
The Time Period Principle states that a company's financial activities should be recorded and reported in specific time periods, such as months, quarters, or years. This principle ensures that financial statements reflect the company's performance and position over these defined intervals, allowing for consistent comparison and analysis of financial results over time.

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 Historical Cost Principle states that assets should be recorded and reported at their original purchase price, rather than their current market value. This principle is relevant in financial reporting as it provides consistency and reliability in financial statements, allowing users to compare financial information over time without the influence of market fluctuations.

Right Answer:
Coded as CITOXE.

Right Answer:
Q alone can complete the work in 36 days.

Right Answer:
The probability that all three dice show the same number is ( frac{1}{6} ).

Right Answer:
Factoring is a financial transaction where a business sells its accounts receivable (invoices) to a third party (the factor) at a discount in exchange for immediate cash.

The procedure for factoring typically involves the following steps:
1. The business identifies its accounts receivable to be factored.
2. The business applies to a factoring company and submits the invoices.
3. The factoring company evaluates the creditworthiness of the business's customers.
4. Upon approval, the factoring company advances a percentage of the invoice value (usually 70-90%).
5. The factoring company collects the payment from the customers when the invoices are due.
6. Once the customers pay, the factoring company releases the remaining balance to the business, minus a fee for the service.

Right Answer:
Bank reconciliation is the process of comparing and matching the balances in an organization's accounting records to the corresponding information on a bank statement. This ensures that the records are accurate and helps identify any discrepancies.

Right Answer:
Over-investment in inventory can lead to increased holding costs, reduced cash flow, and potential obsolescence of products. Under-investment in inventory can result in stockouts, lost sales, and decreased customer satisfaction.

Right Answer:
1. Dilution of earnings per share (EPS).
2. Potential decrease in share price due to increased supply.
3. Perception of financial instability if used to cover losses.
4. Reduced cash reserves for dividends or reinvestment.
5. Possible tax implications for shareholders.

Right Answer:
Working capital refers to the difference between a company's current assets and current liabilities. It represents the funds available for day-to-day operations. The primary objective of working capital management is to ensure that a company has sufficient liquidity to meet its short-term obligations while maximizing its operational efficiency and profitability.

Right Answer:
The company's board of directors decides the denomination of shares in the public issue.

Right Answer:
The general factors affecting capital structure include:

1. **Business Risk**: The inherent risk in the company's operations.
2. **Tax Considerations**: The tax benefits of debt financing.
3. **Financial Flexibility**: The ability to raise funds easily when needed.
4. **Cost of Capital**: The cost associated with different sources of financing.
5. **Market Conditions**: Economic environment and investor sentiment.
6. **Company Size and Age**: Larger, older firms may have different capital needs than smaller, newer ones.
7. **Asset Structure**: The nature of the company's assets and their liquidity.
8. **Management Philosophy**: The attitudes of management towards debt and equity financing.