Interview Questions

Q:

What are the activities present in payroll task?

Answer

1. Processing Payroll to generate Paycheck and Pay Stubs


2. Generating Tax reports and vouchers using which Taxes are deposited to Govt (Employee Tax).


3. Processing reports that are handed over to Accounting Dept.


4. Ensuring that the Deductions, Benefits, Acruals, Taxes and Salaries are accurate (


5. Posting the Journals to Finance


6. Processing Govt Reports and submitted to Govt


7. Entering interims (may also be done by HR in some Companies)


7. Year End Process to generate W2s

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Q:

What are the main attributes for a successful commercial lawyer?

Answer

Interpersonal Skills: Good lawyers and paralegals have exceptional interpersonal skills and can establish trusting relationships with each and everyone they work with.
Logical Thinking Ability: A great lawyer is able to guess logically and make legitimate judgments and assumptions based on data presented.
Perseverance: Those working in the legal profession must have perseverance. In most cases require long hours of work with heavy research and lots of writing. A superb lawyer or legal assistant must be active to put in the time it takes to get the role done.
Public Speaking Skills: A good lawyer has excellent public speaking skills and is comfortable addressing a courtroom. They can also easily handle speaking in front of other groups.
Writing Skills: A great lawyer or legal assistant has exceptional writing skills which might be used in preparing compelling arguments, motions, briefs, and other legal documents.
Creativity: A brilliant lawyer is creative and able to think of affordable solutions when problems and unique situations arise.
Research Skills: Preparing a legal strategy generally requires a vast amount of studies. The one who involved in the legal profession should have superb research skills to be able to find and recognize pertinent information.

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Subject: Law

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Q:

What are virtual functions?

Answer

Polymorphism is also achieved in C++ using virtual functions. If a function with same name exists in base as well as parent class, then the pointer to the base class would call the functions associated only with the base class. However, if the function is made virtual and the base pointer is initialized with the address of the derived class, then the function in the child class would be called.

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Subject: C++

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Q:

.What are Stacks? Give an example where they are useful.

Answer

A Stack is a linear structure in which insertions and deletions are always made at one end i.e the top - this is termed as last in, first out (LIFO). Stacks are useful when we need to check some syntex errors like missing parentheses. 

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Subject: C++

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Q:

What legal services can a lawyer provide?

Answer


    1. Serve clients completely
    2. Be competently loyal to clients
    3. Keep client communications private
    4. Answering legal questions
    5. Helping clients find a solution
    6. Emerge in court on a client’s behalf
    7. Counseling clients

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Subject: Law

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Q:

Why do you think you’re suited to a career in investment banking?

Answer

As you’re interested in a career in banking, plenty of reasons should spring to mind, and if they don’t you should consider choosing another path! Often students are attracted to the intellectual challenges and high-profile nature of the dealings of the finance world, the fast pace of the work here, and the rewards on offer, all of which are very valid reasons for applying to a bank. But they’re also valid reasons for applying for jobs in other parts of the finance world, so make sure you explain why you want a job at a bank, and in your chosen area in particular. Perhaps you’re keen for the broad and deep financial training and prestigious experience that only a leading bank can offer?


Your interviewers may also ask if anything puts you off banking. If you have any real doubts, an interview is not the place to air them, but it’s a great idea to show that you’ve considered the difficulties the industry is currently going through before choosing to make an application. You might say that you’re attracted to the particular professional challenges and opportunities a period of flux in an industry can offer.

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Subject: Bank Interview

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Q:

What are the goals of Accounts receivable?

Answer

As sales occurs every customer is not able to pay the bills that's where A/R are occurs the goal of A/R is to maintain summarize & record all the transactions related to unpaid a/c or future collections or A/R.

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Q:

Internal controls are concerned with

A) the extent of government regulations B) preparing income tax returns
C) safeguarding assets D) only manual systems of accounting
 
Answer & Explanation Answer: C) safeguarding assets

Explanation:

Internal control, as defined in accounting and auditing, is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.

 

Internal control is all of the policies and procedures management uses to achieve the following goals.

  • Safeguard University assets - well designed internal controls protect assets from accidental loss or loss from fraud.

 

  • Ensure the reliability and integrity of financial information - Internal controls ensure that management has accurate, timely and complete information, including accounting records, in order to plan, monitor and report business operations.

 

  • Ensure compliance - Internal controls help to ensure the University is in compliance with the many federal, state and local laws and regulations affecting the operations of our business.

 

  • Promote efficient and effective operations - Internal controls provide an environment in which managers and staff can maximize the efficiency and effectiveness of their operations.

 

  • Accomplishment of goals and objectives - Internal controls system provide a mechanism for management to monitor the achievement of operational goals and objectives.

 

Hence, Internal controls are concerned with safeguarding assets.

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Filed Under: Accounts Payable
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

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