TresVista Interview Questions and Answers

Possess fundamental knowledge in finance and accounting, along with skills in English communication and comprehension.

Q1. What are the three components of financial statements?
Ans. 
The three components of financial statements are income statement, balance sheet, and cash flow statement.
• Income statement shows the company's revenues and expenses over a period of time.

• Balance sheet provides a snapshot of the company's assets, liabilities, and shareholders' equity at a specific point in time.

• Cash flow statement reports the cash generated and used by the company during a specific period.
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Q2. What are the components of a cash flow statement?
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Components of a cash flow statement include operating activities, investing activities, and financing activities.
• Operating activities: Includes cash flows from day-to-day business operations, such as sales and expenses.

• Investing activities: Involves cash flows from the purchase and sale of long-term assets, like property or equipment.

• Financing activities: Includes cash flows related to raising or repaying capital, such...read more
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Q3. What are the meanings of prepaid expenses and depreciation?
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Prepaid expenses are costs paid in advance but not yet incurred, while depreciation is the allocation of the cost of an asset over its useful life.
• Prepaid expenses are assets representing costs that have been paid for but have not yet been used or consumed.

• Depreciation is the systematic allocation of the cost of a tangible asset over its useful life.

• Prepaid expenses are typically recorded as assets on the balance sheet...read more
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Q4. What types of assets are subject to depreciation?
Ans. 
Assets such as machinery, equipment, vehicles, buildings, and furniture are subject to depreciation.
• Machinery

• Equipment

• Vehicles

• Buildings

• Furniture
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Q5. What are the accounting entries for the purchase and sale of a depreciating asset?
Ans. 
Accounting entries for purchase and sale of a depreciating asset
• Purchase: Debit the asset account and credit the cash/bank account

• Purchase: Debit the depreciation expense account and credit the accumulated depreciation account

• Sale: Debit the cash/bank account and credit the asset account

• Sale: Debit the accumulated depreciation account, debit the gain/credit the loss on sale account, and credit the asset account
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Q6. What is the average number of tea cups consumed by an Indian in a day?
Ans. 
The average number of tea cups consumed by an Indian in a day varies widely depending on individual preferences and habits.
• Tea consumption in India is influenced by factors such as region, age, gender, and cultural practices.

• Some Indians may consume multiple cups of tea throughout the day, while others may not drink tea at all.

• In general, it is common for many Indians to have at least 1-2 cups of tea per day.

• Tea is a p...read more
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General aptitude, verbal skills

Q1. Journal entries, Balance sheet entries, Cash and accruals, rent, depriciation, behaviourals, guestimates.
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Q1. Revenue expenditure, deferred revenue expenditure, guestimates, rent accruals, journal entries.
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There were 3 sections one is English , 2nd was logical reasoing, and last related to finance

Q1. Why balance sheeet tally
Ans. 
The balance sheet must tally to ensure that assets equal liabilities plus equity.
• Balance sheet must follow the accounting equation: Assets = Liabilities + Equity

• Tallying the balance sheet ensures that all financial transactions have been recorded accurately

• Errors in the balance sheet can lead to incorrect financial analysis and decision-making

• Common reasons for balance sheet not tallying include missing transactions, i...read more
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Q2. Behavirouly questions
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Q1. Traffic rate of air
Ans. 
The traffic rate of air refers to the volume of air traffic in a specific area or route.
• The traffic rate of air can be measured by the number of flights passing through a particular airspace or airport in a given time period.

• Factors affecting air traffic rate include weather conditions, airport capacity, and airline schedules.

• For example, a busy international airport like Heathrow in London would have a high traffic ra...read more
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Quantitative Aptitude, Communication(English language proficiency), Finance

Q1. Accounting related question-impact of transactions on the 3 financial statements
Ans. 
Transactions affect the income statement, balance sheet, and cash flow statement in various ways.
• Revenue recognition increases net income on the income statement and cash flow from operations on the cash flow statement.

• Expenses reduce net income on the income statement and can decrease cash flow from operations if paid in cash.

• Asset purchases increase assets on the balance sheet and may decrease cash on the cash flow s...read more
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Q2. Equity related terms and concepts
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Q3. Guesstimates questions
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Q4. Relative valuation multiples
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