Accounting Interview Questions and Answers
Question - 1 : - Why choose accounting as a profession?
Answer - 1 : -
Accounting is chosen as a profession because:
- Become a part of an extensive network of professionals.
- Accept or experience a challenging role.
- Explore new opportunities.
- Offers all kinds of career options.
Question - 2 : - What are the skills needed to work as an accountant?
Answer - 2 : -
Skills needed to work as an accountant are:
- Excellent at math
- Strong analytical skills
- Structured work style
- Aptitude for technology.
Question - 3 : - Mention some accounting software
Answer - 3 : -
The best accounting software are:
- FreshBooks
- NetSuite ERP
- Tipalti
- FreeAgent
- Zoho Books
- Sage Business Cloud Accounting
- Sage 50cloud
- Tally
Question - 4 : - Mention the difference between SAP Memory and ABAP Memory
Answer - 4 : -
- SAP Memory is a global user-related memory that extends beyond the limit of transaction.
- ABAP Memory is a memory area within each main session and can be accessed by programs using the import-export statement.
Question - 5 : - What is Microsoft Accounting Professional?
Answer - 5 : -
Microsoft Accounting Professional is an accounting application that offers reliable and fast processing of accounting transactions. It also helps with financial analysis.
Question - 6 : - Where to show TDS in the balance sheet?
Answer - 6 : -
TDS is shown on the assets section, right after the head current asset.
Question - 7 : - What is TDS?
Answer - 7 : -
TDS stands for Tax Deduction at Source. It is introduced to collect text from the company from where the employee income is generated.
Question - 8 : - What is the balance sheet?
Answer - 8 : -
It is a statement that states all the liabilities and assets of the company at a certain point.
Question - 9 : - How many types of business transactions are there in accounting?
Answer - 9 : -
There are two types of transactions in accounting, i.e., revenue and capital.
Question - 10 : - What is the abbreviation for the accounting terms debit and credit?
Answer - 10 : -
The debit abbreviation is “dr” and credit abbreviation is “cr”.