Sample interview questions for managers
So learn more about the Fixed Assets with the help of this Fixed Assets Interview Questions with Answers guide and get a better job or get a preparation for a job interview of Fixed Assets based job. Fixed Assets are those which are tangible and used for running the day to day business which are owned.
As they are utilised for business, we save a part of the profit earned in the business to replace these Assets when they worn out. Is This Answer Correct? Employee salary deductions under section of the income tax act of india? Fictitious Assets :These are the assets which can not be seen, but exist in the business.
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In it all the entries will be recorded. Generally the cash book can be balanced once in a month.
Day Cash book: It is the book maintained by accountant to record all the cash transactions with takes place during the day it can be receipt or payment. At later stage these will be posted into cash book.
How to Answer Management Interview Questions
General Ledger : While preparing Trial balance to check the arithmetical accuracy, some times the debit and credit balances may not tally, to make the process easy the accountant will open an account named General Ledger to post the entries which r causing balancing problem. Debentureholder are those who provides long term loan at specific interest rate in term of cash and creditor provides only short term credit in term of cash for purchasing of goods.
Double declining method 2. Units of production method 3.
Straight-line method 4. Different Methods Of Dpn.
Interview Questions and Answers - Finance
Basically , almost all times, i must be in full of concentration, secondly, before cash paying and cash receiving we must count and give , at in any situation.
Finally, quick listener, and speed and accuracy maintainence is very important.
An asset or account of borrower,which has been classified by a bank or financial instution as sub-standard,doubtful or loss assets as per the guidelines issued by RBI. A non performing asset is one which does not earn any income. For example you have built a house consisting of 3 floors and the whole building is occupied by your family member and does not earn any rent, then this is called as a non performing asset.
A non performing asset is a type of asset which does not earn any income and these asset unable to cover up the investment put into it to hold. Accumulated depreciation is contra account in Assets section of Balance sheet.
That means, assets normally have debit balance but Accumulated depreciation has credit balance. This is a unique type of account and it serves the purpose of showing the viewers the original amount of assets and the resulting depreciation on those assets.
Acc dep is also an ingredient in depreciation journal entry. Where Depreciation expese is debited and acc dep is credited.