Accounting and Finance problems
- 1. The Accounting period cycle of NSE is
Options- A. Monday to next Friday
- B. Wednesday to next Tuesday
- C. Wednesday to next Wednesday
- D. Tuesday to next Wednesday Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: Wednesday to next Tuesday
- 2. Suspense account group is defined under
Options- A. Assets
- B. Income
- C. Expenditure
- D. Liabilities Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: Liabilities
- 3. The shortcut key to quit from tally is
Options- A. CTRL + Q
- B. CTRL + ESC
- C. CTRL + T
- D. CTRL + P Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: CTRL + Q
- 4. What is Repo Rate and Reverse Repo Rate? Also asked in: Analyst, Bank Clerk, Bank PO
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
- 5. Commercial banks are funded through which of the following?
Options- A. Customer deposits
- B. Services
- C. Stock holders
- D. Government funding Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
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.
- 6. Which of the following terms is not used in banking sector?
Options- A. Daily Product Basis
- B. Remittancel
- C. Cash Reserve
- D. Actuary Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
- 7. What do you understand by Variance Report in payroll? Discuss
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
- 8. How do you calculate gratuity? Discuss
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
- 9. How higher management in an organization gets benefited by payroll reports? Discuss
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
- 10. What is retropay? Discuss
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
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