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ACG Worldwide Interview Questions and Answers
Q1. What is the secured loan and unsecured loan, what is the insolvency
Secured loans are backed by collateral while unsecured loans are not. Insolvency is a financial state where a person or company is unable to pay their debts.
Secured loans require collateral such as a house or car, while unsecured loans do not.
In case of default, the lender can seize the collateral for secured loans.
Unsecured loans are based on creditworthiness and may have higher interest rates.
Insolvency is a state where a person or company is unable to pay their debts and m...read more
Q2. What is bankrupty, what is mortgage
Bankruptcy is a legal process where a person or business is unable to repay their debts. Mortgage is a loan taken to buy a property.
Bankruptcy is a legal process where a person or business declares that they are unable to repay their debts
The court may liquidate the assets of the debtor to pay off the creditors
Mortgage is a loan taken to buy a property, where the property is used as collateral
The borrower pays back the loan with interest over a period of time
If the borrower f...read more
Q3. What is Bankruptcy? Explain in detail
Bankruptcy is a legal process where an individual or business is unable to repay their debts and seeks relief from their creditors.
Bankruptcy is a legal status that can be filed voluntarily or involuntarily.
It allows individuals or businesses to eliminate or repay their debts under the protection of the court.
There are different types of bankruptcy, including Chapter 7, Chapter 11, and Chapter 13.
Bankruptcy can have long-term consequences on credit scores and financial reputa...read more
Q4. Meaning of secured loan and it' s example
Secured loan is a type of loan that is backed by collateral, reducing the risk for the lender.
Secured loan requires collateral, such as a house or car, to secure the loan
If the borrower fails to repay the loan, the lender can take possession of the collateral
Interest rates on secured loans are typically lower than unsecured loans due to reduced risk for the lender
Q5. Meaning of mortgages and depreciation
Mortgages are loans used to purchase real estate, while depreciation is the decrease in value of assets over time.
Mortgages are long-term loans used to finance the purchase of real estate properties.
Depreciation is the decrease in value of assets over time due to wear and tear, obsolescence, or other factors.
Mortgages typically have fixed or adjustable interest rates and are secured by the property being purchased.
Depreciation is important for financial analysis as it impacts...read more
Q6. What is depreciation
Depreciation is the decrease in value of an asset over time due to wear and tear, obsolescence, or other factors.
Depreciation is a non-cash expense that reduces the value of an asset on the balance sheet.
It is calculated by dividing the cost of the asset by its useful life.
There are different methods of calculating depreciation, such as straight-line, declining balance, and sum-of-the-years-digits.
Examples of assets that can be depreciated include buildings, vehicles, and mac...read more
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