Lifeline Hospital India Interview Questions and Answers

Payroll related statutes are laws and regulations that govern the payment of wages and benefits to employees.

• Fair Labor Standards Act (FLSA) sets minimum wage and overtime pay standards

• Family and Medical Leave Act (FMLA) provides unpaid leave for certain medical and family reasons

• Internal Revenue Code (IRC) outlines tax withholding requirements

• Employee Retirement Income Security Act (ERISA) regulates employee benefit plans

• Equal Pay Act (EPA) prohibits gender-based wage discri...read more

Accounts refer to financial records that track the inflow and outflow of money in an organization.

• Accounts are used to keep track of financial transactions.

• They help in monitoring the financial health of an organization.

• Examples of accounts include cash, accounts receivable, accounts payable, and inventory.

• Accounts are usually maintained using accounting software.

• Financial statements such as balance sheets and income statements are prepared using data from accounts.

Accrual refers to the recognition of revenues and expenses when they are incurred, regardless of when cash is exchanged.

• Accrual accounting matches revenues with expenses in the same accounting period

• It provides a more accurate representation of a company's financial position

• Examples include recognizing revenue when services are performed, even if payment has not been received yet

Restricted wages in EPF refer to the portion of an employee's salary that is not considered for calculating EPF contributions.

• Restricted wages are typically non-monetary benefits or allowances provided to employees.

• These wages are excluded from the calculation of EPF contributions.

• Examples of restricted wages include housing allowances, travel allowances, and food allowances.

• Only basic wages and dearness allowance are considered for EPF contribution calculations.

The femur is the largest bone in the human body and is located in the thigh. NCE is not a medical term or abbreviation.

• The femur is also known as the thigh bone.

• It connects the hip bone to the knee.

• The femur is responsible for supporting the weight of the body during activities such as walking and running.

• NCE is not a recognized medical term or abbreviation.

I know various formulas related to finance, statistics, and mathematics.

• Finance formulas: ROI, NPV, IRR

• Statistics formulas: mean, median, standard deviation

• Mathematics formulas: Pythagorean theorem, quadratic formula