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- Question
How do you calculate gratuity?
- Correct Answer
- Gratuity is paid to all such employees after their resignation or retirementIncase of resignation gratuity is paid to such employees who have completed 5 years of service Calculation of gratuity = Basic + DA x (15/26) x Total no yrs service 15- Half month 26- Excluding 4 sundays
- 1. What do you understand by Variance Report in payroll? Discuss
- 2. Which of the following terms is not used in banking sector?
Options- A. Daily Product Basis
- B. Remittancel
- C. Cash Reserve
- D. Actuary Discuss
- 3. Commercial banks are funded through which of the following?
Options- A. Customer deposits
- B. Services
- C. Stock holders
- D. Government funding Discuss
- 4. What is Repo Rate and Reverse Repo Rate? Discuss
- 5. The shortcut key to quit from tally is
Options- A. CTRL + Q
- B. CTRL + ESC
- C. CTRL + T
- D. CTRL + P Discuss
- 6. How higher management in an organization gets benefited by payroll reports? Discuss
- 7. What is retropay? Discuss
- 8. What procedure for excess payment to supplier I would like know without adjusting invoice that means how supplier will send back excess amount how do in oracle apps? Discuss
- 9. Explain What is the difference between debenture holders and creditors? Discuss
- 10. What is the meaning of Per Diem? Discuss
Accounting and Finance problems
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Correct Answer: Variance Report is to know what is the difference between last month salary and the current month salary you can also check in that report all input which you have considered its captured or not
Correct Answer: Customer deposits
Explanation:
A commercial bank is a financial body which performs the functions of accepting deposits from the general public and giving short term loans for investment with the aim of earning profit.
Correct Answer: Repo Rate is the rate at which the commercial banks borrows money from the central bank of a country ie, RBI in India Reverse Repo Rate is the rate at which the central bank of a country, in case of India it is RBI borrows money from the commercial banks in the country
Correct Answer: CTRL + Q
Correct Answer: Payroll reports gives information about the total 'cost to Company' for the Employee Salary, Benefits (Cash and Non-Cash), Taxes, Total Hours worked All these information is helpful for the Management decisions
Correct Answer: It is a process that recaculates the amount to pay an employess in the current period to account for retrospective changes that occurred in previous payroll periods
Correct Answer: Excess payment to supplier is treated as Advance paid to supplier This will show as debit balance in supplier account Supplier can send the payment by way of cheque / demand draft without adjusting in his subsequent bills
Correct Answer: Debenture holder are those who provides long term loan at specific interest rate in term of cash and creditor provides only short term credit in term of cash for purchasing of goods
Correct Answer: It is the allowance paid to an employee who is working on a special assignment This amount is completely exclusive of his Compensation plan These are given in scenerio's like, when the employee went for On Job Training or an Employee sent for short term Deputation to survive his expenses in the new location
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