Bihar Rural Livelihoods Promotion Society Interview Questions and Answers

Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business.

• Accounting involves recording financial transactions such as sales, purchases, and expenses.

• It also includes summarizing and analyzing the financial data to prepare financial statements like balance sheets and income statements.

• Accounting helps in providing insights into the financial health of a busi...read more

There are three main types of accounting: financial accounting, management accounting, and tax accounting.

• Financial accounting focuses on preparing financial statements for external stakeholders.

• Management accounting involves providing information to help internal management make decisions.

• Tax accounting deals with tax-related matters such as tax planning and compliance.

• Other specialized areas of accounting includ...read more

Microcredit is a financial service providing small loans to low-income individuals or groups to promote entrepreneurship and self-sufficiency.

• Microcredit is typically offered to those without access to traditional banking services.

• Loans are usually small, ranging from $100 to $5,000, aimed at supporting small businesses.

• Examples include Grameen Bank in Bangladesh, which pioneered microcredit for the poor.

• Microcred...read more

Outstanding rent is recorded as a liability in the books of accounts.

• Outstanding rent is the rent that is due but not yet paid by the tenant.

• It is recorded as a liability in the books of accounts.

• The entry for outstanding rent is: Debit Rent Receivable and Credit Rent Income.

• For example, if the rent due for the month of January is not paid by the tenant, it will be recorded as outstanding rent.

• The outstanding rent...read more

The 7 sutras of a village organization are principles for effective community management.

• Sthapana - establishment of the organization

• Sampatti - wealth management

• Swarajya - self-governance

• Samanvaya - coordination and cooperation

• Sakshamata - capacity building

• Sahabhagita - community participation

• Samanata - equality and social justice

Tools for training include visual aids, simulations, e-learning, lectures, and hands-on activities.

• Visual aids such as PowerPoint presentations and videos

• Simulations like role-playing exercises and case studies

• E-learning modules and online courses

• Lectures and classroom instruction

• Hands-on activities like workshops and on-the-job training