Accounting Assistant Test

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Type

Role Specific Skills

Time

8 minutes

Level

Medium

Questions

About the Test

This test will help you identify candidates with a thorough understanding of concepts of income tax, GST, Business finance, bills of exchange, and Cash flow.

An accounting assistant is a professional who provides support to accountants and other financial professionals. They may assist with various tasks, such as preparing financial statements and reports, entering data into accounting software, reconciling accounts, and maintaining financial records. Accounting assistants may also be responsible for providing customer service, answering questions from clients, and helping to resolve any issues that arise. In general, the role of an accounting assistant is to help ensure that a business’s financial operations run smoothly and efficiently.

An Accounting Assistant creates budgets, keeps track of expenditures, and delivers invoices for goods or services provided by company staff members that have been authorized by management. When necessary, they manage cash transactions and carry out additional administrative tasks, including speeches about financial reports.

Preview questions

Skills Measured

Income Tax
GST
Bills of Exchange
Business Finance
Cash Flow

Roles

Accounting Manager
Clerk, Chartered Accountant
Junior accounts officer
Senior Clerk
Financial Accounting
Accounting Assistant

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Income Tax

Income tax is a tax that is levied on the income of individuals and businesses. In most countries, income tax is a progressive tax, which means that the tax rate increases as income increases. Income tax is typically calculated based on the amount earned during a particular period, such as a year. The government usually collects it through withholding from paychecks or other means. In accounting, income tax is a significant expense that must be considered when preparing financial statements and making business decisions.

GST

GST is short for Goods and Services Tax, a type of consumption tax levied on the supply of goods and services. GST is a value-added tax applied to the value added to a product or service at each stage of its production or distribution. In most countries, GST is collected by the government and is typically included in the price of goods and services. In accounting, GST is a significant expense that must be considered when preparing financial statements and making business decisions.

Bills of Exchange

A bill of exchange is a written document that specifies the terms of a transaction involving the exchange of money. It typically includes the date, the names of the parties involved, the amount of money being exchanged, and the date on which the money is due to be paid. A bill of exchange is often used in international trade as a means of payment and can be transferred from one party to another. In accounting, bills of exchange are recorded as liabilities until they are paid.

Business Finance

Business finance studies how businesses manage their financial resources to achieve their goals. It involves the analysis of financial statements and other financial information to assess a company’s financial health and make decisions about how to allocate its financial resources. Business finance also includes the development of strategies for raising capital, such as through loans or investments, and managing the risks associated with economic activities. In accounting, business finance is a crucial area of focus, as it involves the management of a business’s financial resources to achieve its goals.

Cash Flow

Cash flow is the movement of money into and out of business. It is the net amount of cash generated or used by a company over a particular period, such as a month or a year. A positive cash flow indicates that a business generates more cash than it uses. In contrast, a negative cash flow means that a company uses more money than it generates. In accounting, cash flow is a crucial measure of a business’s financial health and is closely monitored by managers and investors.

The test is created by a subject-matter expert

Testlify’s skill tests are designed by experienced SMEs (subject matter experts). We evaluate these experts based on specific metrics such as expertise, capability, and their market reputation. Prior to being published, each skill test is peer-reviewed by other experts and then calibrated based on insights derived from a significant number of test-takers who are well-versed in that skill area. Our inherent feedback systems and built-in algorithms enable our SMEs to refine our tests continually.

Frequently Asked Questions for Accounting Assistant

The purpose of accounting assistants’ assessment is to check if they can support accountants administratively by performing clerical duties like typing, filing, making calls, handling mail, and simple bookkeeping.

This test assesses individuals’ understanding of concepts like Income tax, GST, Business finance, and Cash flow. This test helps identify candidates with an understanding of income tax, GST, Business finance, bills of exchange, and Cash flow.

Accounting Manager
Clerk, Chartered Accountant
Junior accounts officer
Senior Clerk
Financial Accounting
Accounting Assistant

Income Tax
GST
Bills of Exchange
Business Finance
Cash Flow

Verifying calculations and records to ensure payments, amounts, and accuracy arranging daily mail that comes in and goes out, and responding to inquiries.

Frequently Asked Questions

These are ready-made tests, existing in our test library, created by subject matter experts. We have 200+ such skills tests covering various skills from programming skills to DevOps, including Aptitude and Personality testing.

You can go to the ‘Test Library’ tab and search for tests from the Job Role or Test Type drop-down menu.

Currently, we do not offer any sample tests. However, when you select a test, there would be a few practice questions before the start of the actual test, which would give you a fair idea of how the entire test would look.

Our tests typically take between 25-30 minutes to complete.

In case you need to test for a unique skill-set or specialized experience, you can add your own questions and customize the test to suit your requirements.

We’ve put a lot of effort into ensuring a conducive test environment. A stable internet connection, an internet browser with cookies and Java-Script enabled is all that is required!
However, for a smooth test-taking process, we recommend the following browsers:
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We saved a tremendous amount.

Gary E. Benedik

President, Arch Advisory Group

A must-have tool in any HR department! Well thought out a comprehensive platform that shortens the candidate selection time significantly.

Meir Shachar

CEO at PowerLinx

With Testlify, we were able to optimize our initial screening process by upwards of 75%.
We saved a tremendous amount.

Gary E. Benedik

President, Arch Advisory Group

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Accounting Assistant Test

Type

Time

Level

Questions

About the Test

Skills Measured

Roles

Hire the best, every time, anywhere

4.9

Customer Satisfaction

Income Tax

GST

Bills of Exchange

Business Finance

Cash Flow

The test is created by a subject-matter expert

Frequently Asked Questions for Accounting Assistant

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What are the responsibilities of an Accounting Assistant?

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