Basic Accounting Questions Asked In Interview

Here are some often-asked basic and advanced accounting interview questions and responses for new and seasoned candidates looking to land their ideal position.

The profession of accounting is preferred because: 1. Become a part of a vast professional network. 2. Accept or encounter a demanding role. Investigate fresh possibilities. 3. provides a variety of professional choices.

1) What made you decide to become an accountant?

An accountant needs the following abilities to succeed: 1. excellent math skills 2. powerful analytical abilities 3. organized working method 4. ability with technology

2)  What qualities are necessary to operate as an accountant?

It is a declaration that lists all of the company's liabilities and assets as of a specific date.

3)  What is the balance sheet?

It is the accounting software used in shops and small businesses to manage standard accounting activities.

4)  What is tally accounting?

Premises refers to fixed assets that are shown in the balance sheet.

5)  What is premises in accounting?

The abbreviation of VAT is Value Added Tax.

6)   What is the abbreviation of VAT?

Accounting is all about assets, liabilities, and capital. Therefore, the accounting equation is: Assets = Liabilities + Owners Equity.

7)  What is the basic accounting equation?

A sort of accounting called executive accounting is specially made for a company that provides services to customers.

8)  Define executive accounting