Need to practice your Accounting and Finance skills for an upcoming job interview? Try solving these Accounting and Finance interview questions that test knowledge of double-entry bookkeeping, financial statements, fixed asset management, and other skills. We’ll provide feedback on your answers, and you can use a hint if you get stuck.
These Accounting and Finance interview questions are examples of real tasks used by employers to screen job candidates such as accountants, analysts, financial managers, and others that require knowledge of the subjects and principles used in the accounting and finance disciplines.
1. Company Vehicle
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.)
2. Cash Withdrawal
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?
3. Total Interest
Where can information about the total interest accrued during the reporting period of one year be found?
4. Fixed Assets Increase
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?
