Accounting Interview Questions

Q: Your company just purchased a company vehicle with cash. Which actions regarding the Chart of Accounts would take place (double-entry bookkeeping method)?

[*] The account representing cash is credited. [ ] The account representing cash is debited. [ ] The account representing mobile asset is credited. [*] The account representing mobile asset is debited.

Q: When a bank's customer makes an ATM cash withdrawal from the customer's account, which classes of the bank's Chart of Accounts will be affected?

[ ] Classes representing assets. [ ] Classes representing equity. [ ] Classes representing liabilities. [ ] Classes representing assets and equity. [*] Classes representing assets and liabilities. [ ] Classes representing equity and liabilities.

Q: Where can information about the total interest accrued during the reporting period of one year be found?

[*] The profit and loss statement (income statement). [ ] The balance sheet. [ ] The statement of retained earnings. [ ] The statement of changes in shareholders' equity.

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Try to solve 4 Accounting interview questions and Finance interview questions below. Hints can help you find answers to questions you are having trouble with.

1. Company Vehicle

Double-Entry Bookkeeping Accounting and Finance Chart of accounts Debits and Credits Fixed Assets

0-33%
34-66%
67-100%

Easy

Your company just purchased a company vehicle with cash. Which actions regarding the Chart of Accounts would take place (double-entry bookkeeping method)?

(Select all acceptable answers.)

The account representing cash is credited.

The account representing cash is debited.

The account representing mobile asset is credited.

The account representing mobile asset is debited.

Report an issue

2. Cash Withdrawal

Double-Entry Bookkeeping Accounting and Finance Balance Sheet Chart of accounts

0-33%
34-66%
67-100%

Easy

When a bank's customer makes an ATM cash withdrawal from the customer's account, which classes of the bank's Chart of Accounts will be affected?

Classes representing assets.

Classes representing equity.

Classes representing liabilities.

Classes representing assets and equity.

Classes representing assets and liabilities.

Classes representing equity and liabilities.

Report an issue

3. Total Interest

Basic Financial Statements Accounting and Finance

0-33%
34-66%
67-100%

Easy

Where can information about the total interest accrued during the reporting period of one year be found?

The profit and loss statement (income statement).

The balance sheet.

The statement of retained earnings.

The statement of changes in shareholders' equity.

Report an issue

4. Fixed Assets Increase

Basic Financial Statements Accounting and Finance Balance Sheet Depreciation Fixed Assets

0-33%
34-66%
67-100%

Easy

DEF Limited, a company that specializes in high-end audio components, is planning to expand into a new market by investing in a new production line. DEF invested a total of $150,000 into the new production line, consisting of $100,000 received from a five-year loan and $50,000 of DEF’s own cash. DEF’s management has decided to use the straight-line depreciation method over a 10-year period, and the salvage (residual) value of the production line is zero.

What is the increase to DEF’s fixed assets when the production line is put into operation?

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