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 Accounting and Finance Questions

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Q:

What is Payroll Journal?

Answer

A payroll journal is like a payroll register. It has salary, bonuses, commission in other words earnings, any deductions such as 401k, fsa etc, state and income taxes etc.
It shows the gross salary less any deductions "Net pay" for the period.

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Subject: Payroll Interview

0 2070
Q:

The income and substitution effects account for

A) the upward sloping curve B) the downward sloping curve
C) Both A & B D) None of the above
 
Answer & Explanation Answer: B) the downward sloping curve

Explanation:
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Filed Under: Bank Interview
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

1 2069
Q:

What is the minimum period to revise the Basic Salary of Employees?

Answer

Wage Revisions as per wage policy every finanical year means April of the every year will revised.


At the same time Basic is revised as per appointment order like we are given probation period to every employee after completion of the employee probation than basic also revised and depends upon Organisation Structure also.

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Subject: Payroll Interview

0 2057
Q:

Which of the following best describes term life insurance? 

A) The insured pays a premium for a specified number of years. B) The insured is covered during his or her entire lifetime.
C) The insured pays the premium until his or her death. D) The insured can borrow or collect the cash value of the policy.
 
Answer & Explanation Answer: A) The insured pays a premium for a specified number of years.

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

0 2055
Q:

A decline in the real interest rate will

A) shift the investment schedule downward B) shift the investment schedule leftward
C) increase the amount of investment spending D) None of the above
 
Answer & Explanation Answer: C) increase the amount of investment spending

Explanation:

The real interest rate is the percentage increase in purchasing power that the lender receives on a loan. A decline in the real interest rate will increase the amount of investment spending.

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

0 2035
Q:

The interest-rate effect suggests that

A) an increase in the price level will increase the demand for money, reduce interest rates, and decrease consumption and investment spending B) an increase in the price level will increase the demand for money, increase interest rates, and decrease consumption and investment spending
C) a decrease in the supply of money will increase interest rates and reduce interest-sensitive consumption and investment spending D) an increase in the price level will decrease the demand for money, reduce interest rates, and increase consumption and investment spending
 
Answer & Explanation Answer: B) an increase in the price level will increase the demand for money, increase interest rates, and decrease consumption and investment spending

Explanation:

The interest-rate effect suggests that an increase in the price level will increase the demand for money, increase interest rates, and decrease consumption and investment spending.

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

0 2031
Q:

Which of the following is not true about enterprise systems? 

A) Enterprise software is expressly built to allow companies to mimic their unique business practices. B) Enterprise software includes analytical tools to evaluate overall organizational performance.
C) Enterprise system data have standardized definitions and formats that are accepted by the entire organization. D) Enterprise systems help firms respond rapidly to customer requests for information or products.
 
Answer & Explanation Answer: A) Enterprise software is expressly built to allow companies to mimic their unique business practices.

Explanation:

Enterprise systems (ES) are large-scale application software packages that support business processes, information flows, reporting, and data analytics in complex organizations.

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

0 2023
Q:

What are the general deductions made while doing payroll for an employee in an organization?

Answer

Professional Tax


ESI


PF


Recoveries


Advances if any

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Subject: Payroll Interview

0 2018