Accounting and Finance Questions


What is Accounting and Finance?

Accounting is the language of business. Accounting and finance questions in interviews and entrance exams can be easy sometimes and challenging, the interviewers test your knowledge levels. Frequently asked Accounting and Finance questions would cover topics like: cash flow statements, working capitals, balance sheet, goodwill, financial statements, working capital, tax liabilities, tax, assets, accounts payable, accounts receivable, rate of interests, payroll reports, salary TDS, Ledgers and journals, Invoice, Trial balance, bills payable, bills receivable, Invoice statements, Budgetary control and more.

 

Fresher and experienced professionals should have good knowledge on the fundamentals of accounting and finance, General accounting, capital markets, capital structure and all the advanced accounting concepts. Read accounting and finance books, read newspapers and answer number of sample questions.

 

We have a large collection of sample questions on "Accounting and Finance" frequently asked in many interviews and entrance exams for your practice.


Q:

A debit may signify an

A) Increase in asset account B) Decrease in asset account
C) Increase in liability account D) Increase in capital account
 
Answer & Explanation Answer: A) Increase in asset account

Explanation:

A debit can signify an increase in asset, an expense, and the owner's drawings. A debit can also signify a decrease in a liability, revenues and owner's equity.

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Q:

Accounting principles are generally based on

A) Convenience in recording B) Practicability
C) Subjectivity D) All of the above
 
Answer & Explanation Answer: B) Practicability

Explanation:
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Filed Under: Accounting and Finance
Exam Prep: Bank Exams

0 416
Q:

Loan and Advances of a bank come under the category of______________.

A) Deposits B) Expenditure
C) Liabilities D) Assets
 
Answer & Explanation Answer: D) Assets

Explanation:
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1 2957
Q:

State Bank of India recently launched 'SBI Exclusif'. It is a ____ product.

A) Wealth Management B) Loan
C) Mutual Fund D) Insurance
 
Answer & Explanation Answer: A) Wealth Management

Explanation:
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Filed Under: Bank Interview - Accounting and Finance
Exam Prep: Bank Exams
Job Role: Bank PO

0 1512
Q:

Headquarters of State Bank of India is in

A) Noida B) Mysore
C) Mumbai D) Hyderabad
 
Answer & Explanation Answer: C) Mumbai

Explanation:

State Bank of India (SBI) is the largest public sector banks in India. It was the first bank established in India as Bank of Calcutta in 1806 and then Imperial Bank of India and then it became State Bank of India on 1st July 1955. The Headquarters of State Bank of India is in Mumbai, Maharashtra.

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

4 1782
Q:

Which of the following terms is not used in banking sector?

A) Daily Product Basis B) Remittancel
C) Cash Reserve D) Actuary
 
Answer & Explanation Answer: D) Actuary

Explanation:

Actuary is the term which is not used in banking sector.

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

1 1796
Q:

Managerial accounting information is generally prepared for

A) creditors B) regulatory agencies
C) shareholders D) managers
 
Answer & Explanation Answer: D) managers

Explanation:

Managerial accounting information is generally prepared for managers of an organization. It is also known as cost accounting, is the process of identifying, measuring, analyzing, interpreting, and communicating information to managers for the pursuit of an organization's goals. 

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Filed Under: Accounting and Finance
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

2 673
Q:

Foreign Exchange Rates refer to the

Answer

A foreign exchange rate is the price of the domestic currency stated in terms of another currency.

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3 1753