Top 10+ CA Trainee Interview Questions and Answers (Chartered accountant)

If you are going to be facing an interview as CA trainee then you must prepare yourself with Chartered accountant trainee interview questions that can be of great help to you. Just like there are interview questions for CA articleship, there are trainee accountant interview questions that must be kept in mind to make sure that you have brighter chances of clearing the interview.

In this post, we have come up with a list of 10 Chartered accountant (CA) trainee interview questions and answers that can be of some help to you for your interview preparations. Click here to Download Free CA Trainee Interview questions and answers pdf.

Most Common Chartered Accountant Trainee interview questions and answers:

Q 1. State the five heads of income that are required for calculating the total income of the assessee?

Ans.  The five heads are:

  • Income from Salaries
  • Profits from Business and Profession
  • Income from Capital Gains
  • Income from House Property
  • Income from Other Sources

Q 2. What do you understand by inflation?

Ans. It means the overall increase in the prices of the services and goods in an economy. It basically defines the decrease in the total value of the currency of a country.

Read also: Interview Questions for CA Industrial Training

Q 3. Which all allowances are fully taxable?

Ans. They are:

  • Overtime allowance
  • Family allowance
  • Dearness allowance
  • Medical allowance
  • Family allowance
  • Servant allowance
  • City Compensatory allowance
  • Lunch allowance
  • Warder allowance

Q 4. What do you understand by Gratuity?

Ans. Gratuity is the total amount payable to the employee by the employer which is a recognition of the long term association between the two.

Q 5. State the difference between long term capital asset and short term capital asset.

Ans. Short term capital assets are defined as those assets that are held by assessee for a period less than 36 months right before the date of the transfer and those beyond this duration come under long term capital assets.

Q 6. What all does the term person include?

Ans. A person can be anyone of the following:

  • A company
  • A firm
  • An individual
  • A local authority
  • Undivided family
  • Any association of persons
  • Artificial person who does not fall under any of the preceding sub clauses

Check this: Fresher CA Interview Questions and Answers

Q 7. Which all employees fall under Voluntary Retirement Scheme?

Ans. They are:

  • A university
  • A public sector company
  • A local authority
  • Any other company
  • A co-operative society
  • An authority established under a Central or State Act

Q 8. Define pension.

Ans. Pension is defined as the periodical payment given by the employer to the employees after he or she discontinues to be employed with the company.

Q 9. What do you understand by BOP?

Ans. BOP stands for Balance Of Payment and it measures the payments between the countries. The purpose of BOP is to summarize all the international economic transactions of a nation during a particular frame of time which is usually a year.

Q 10. What is Ramsay Pricing?

Ans. Ramsay pricing assigns that costs based on price elasticity of demand.

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