123Stores Team Manager Interview Questions and Answers

Accrual accounting is a method of accounting that records revenues and expenses when they are incurred, regardless of when cash is exchanged.

• Accrual accounting recognizes revenue and expenses at the time they are earned or incurred, rather than when cash is received or paid.

• In accounts payable, accrual accounting ensures that expenses are recorded when they are incurred, even if the payment has not been made yet.

• This m...read more

Accounts payable refers to the money a company owes to its suppliers or vendors for goods or services purchased on credit.

• Accounts payable is a liability on the company's balance sheet.

• It represents the amount of money the company owes to its suppliers or vendors.

• Accounts payable is typically recorded when an invoice is received from a supplier, and payment is usually made within a specified period.

• Managing accounts pa...read more

Comparator and Comparable are interfaces used for sorting objects in Java.

• Comparator is used to define custom sorting logic for objects that do not implement the Comparable interface.

• Comparable is implemented by objects that want to define their natural ordering.

• Comparator uses the compare() method, while Comparable uses the compareTo() method.

• Comparator can be used to sort objects in multiple ways, while Comparable pr...read more