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 Accounting and Finance Questions

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Q:

What is Payroll transaction?

Answer

Payroll Transaction is nothing but the calculation of salary for a month / week / day of an individual / group of employees depends upon the attendance / variable inputs / other benefits / salary component and generate the reports for IT / Statutory / PT payments.

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Subject: Payroll Interview

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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 2214
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 2178
Q:

Which best describes the difference between stocks and bonds?

A) stocks allow investors to own a portion of the company; bonds are loans to the company B) stocks are more reliable investment;bonds tend to be more volatile
C) stocks allow investors to share in profits;bonds make investors responsible for company debts D) stocks pay interest to investors throughout the year; bonds only pay interest at fixed times during the year
 
Answer & Explanation Answer: B) stocks are more reliable investment;bonds tend to be more volatile

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

0 2173
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 2158
Q:

Purchase return and allowances is a contra account

A) TRUE B) FALSE
Answer & Explanation Answer: A) TRUE

Explanation:

Purchase return and allowances is a contra account to purchases.

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

0 2143
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

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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

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