Non-Setup objects are standard objects like Account or any custom object.

Setup objects are Group1, GroupMember, QueueSObject, User, UserRole, UserTerritory, Territory, etc..

2. How do you serialize batch apex?Explain the various methods?

http://devendranatani.blogspot.in/2011/03/serialize-batch-apex-in-salesforce.html

3. What is the minimum time you can schedule a batch apex?


Minute

4. What happens if sharing on Case is Read write ? How does it impact on account, contact and opportunity sharing in OWD?

No impact because of Lookup relationship among all these objects.

5. What is the significance of iscallout = true in salesforce ?

To execute web services methods asynchronously.

6. Can we update parent object records by having workflow on Child Object ?
 
Yes.


Cheers!!!