1. Define deferred tax asset and how is the value created?

2. What is the equation for the Acid test ratio in accounting?

3. Define TDS? And where it is shown in the balance sheet?

4. What do you mean by Tally Accounting?

5. Explain Departmental Accounting?

6. State the difference between inactive and dormant accounts?

7. Briefly explain three different branches of accounting?

8. Define the skills that are needed for an accountant job role?

9. Differentiate between accounts payable and accounts receivable?

10. What are some of the ways to estimate bad debts?