Find Interview Questions for Cmls financial

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No, late fee and service tax on LIC premium are not eligible for deduction under section 80C.

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Direct tax is a tax that is paid directly to the government by the individual or organization on whom it is imposed, such as income tax or corporate tax. Indirect tax is a tax that is collected by an intermediary (like a retailer) from the consumer and then paid to the government, such as sales tax or value-added tax (VAT).

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To maintain TDS in the company, I ensure accurate calculation of TDS on payments made to vendors and employees, file TDS returns on time, and keep proper records of TDS deductions and payments. I also stay updated on TDS rates and compliance requirements to avoid penalties.

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Reconciliation is the process of comparing two sets of records to ensure they match and are accurate, often used to verify financial statements against bank statements or internal accounts.

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The post condition for sundry transactions related to creditors is that the accounts payable balance should accurately reflect the outstanding amounts owed to suppliers, and all transactions should be properly recorded and reconciled in the financial statements.

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Accounting principles, such as the Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS), guide how assets, liabilities, and equity are recognized, measured, and reported on the balance sheet. They ensure consistency, reliability, and comparability in financial reporting, affecting how items are classified, valued, and presented.

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The Revenue Recognition Principle impacts profit calculations by ensuring that revenue is recognized when it is earned, regardless of when cash is received. This means profits reflect the actual performance of a business during a specific period, aligning income with the expenses incurred to generate that income.

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The Prudence Principle emphasizes being cautious in financial reporting, ensuring that assets and income are not overstated, while liabilities and expenses are not understated. Conservatism, on the other hand, is a broader accounting approach that advises recognizing potential losses and liabilities as soon as they are foreseeable, but only recognizing gains when they are realized. In practice, both aim to avoid overestimating financial health, but prudence focuses more on caution in estimates, while conservatism emphasizes a more general approach to recognizing uncertainties.

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The Accrual Principle states that revenue and expenses should be recorded when they are earned or incurred, regardless of when cash is actually received or paid. This differs from cash accounting, where transactions are recorded only when cash changes hands.

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The Cost Principle states that assets should be recorded and valued at their original purchase cost, not their current market value. This means that the value of an asset on the balance sheet reflects the amount paid for it, which influences how assets are reported and affects financial statements.

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BRD (Business Requirements Document) outlines the high-level business needs and objectives. SRS (Software Requirements Specification) details the functional and non-functional requirements for the software. Use Case documents describe specific interactions between users and the system to achieve particular goals.

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Yes, banks face significant challenges from money laundering when attracting deposits. Money laundering can lead to reputational damage, regulatory penalties, and financial losses. Banks must implement strict compliance measures and due diligence processes to detect and prevent illicit activities, which can complicate their efforts to attract legitimate deposits.

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I'm sorry, but the question appears to be unclear or nonsensical. Please provide a specific question related to business analysis for me to answer.

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**CFD (Context Flow Diagram)**: A high-level diagram that shows the flow of information between external entities and the system, helping to define system boundaries and interactions.

**DFD (Data Flow Diagram)**: A visual representation that illustrates how data moves through a system, detailing processes, data stores, and data flows, typically used to analyze and design systems.

**Functional Documentation**: A comprehensive document that outlines the functionalities of a system, including requirements, use cases, and specifications, serving as a guide for development and testing.

Right Answer:
The fields used for Project Planning in MS Project include:

1. Task Name
2. Duration
3. Start Date
4. Finish Date
5. Predecessors
6. Resources
7. Percent Complete
8. Work
9. Cost
10. Milestones

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The interest earned is Rs. 3575.

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Capital market refers to a financial market where long-term debt or equity-backed securities are bought and sold. Companies raise funds in the capital market by issuing stocks (equity) or bonds (debt) to investors, allowing them to obtain capital for growth and operations.

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The cistern holds 48 liters.

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The person is 5 km away from the initial position.

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The speed of the faster train is 50 m/s.