10+ L&T Construction Interview Questions and Answers

To impair a CGU and asset not a part of CGU, assess the recoverable amount and compare it to the carrying amount.

• Determine the recoverable amount of the CGU and the asset not part of the CGU.

• Compare the recoverable amount to the carrying amount of the CGU and the asset.

• If the recoverable amount is lower than the carrying amount, impair the CGU and the asset.

• Recognize the impairment loss in the financial statements.

Future contracts are standardized and traded on exchanges, while forward contracts are customized and traded over-the-counter.

• Future contracts are standardized agreements to buy or sell an asset at a predetermined price and date.

• Forward contracts are customized agreements between two parties to buy or sell an asset at a mutually agreed price and date.

• Future contracts are traded on exchanges, providing liquidity and transparency.

• Forward contracts are traded over-the-counter (O...read more

Raghuram Rajan's decision to clean up the banking system by conducting asset quality reviews made all banks worried.

• Raghuram Rajan initiated asset quality reviews to identify and address non-performing assets in the banking system.

• Banks were worried because this decision could potentially expose their bad loans and require them to take necessary actions.

• The reviews led to increased transparency and accountability in the banking sector, but also caused concerns among banks abo...read more

The thing that helps me take difficult tasks is determination and a positive mindset.

• Determination: Having a strong will and persistence to overcome challenges.

• Positive mindset: Maintaining an optimistic attitude and believing in my abilities.

• Goal setting: Breaking down difficult tasks into smaller, manageable goals.

• Time management: Prioritizing tasks and allocating time effectively.

• Seeking support: Asking for help or guidance when needed.

• Learning from failures: Viewing setba...read more

IFRS 15 relates to Revenue Recognition in International Financial Reporting Standards (IFRS).

• IFRS 15 establishes principles for recognizing revenue from contracts with customers

• It outlines a five-step model for revenue recognition

• Examples include sale of goods, rendering of services, and licensing of intellectual property

An SPV (Special Purpose Vehicle) is a legal entity created for a specific purpose, often used in finance to isolate risk.

• SPVs are commonly used in securitization transactions to pool assets and issue securities backed by those assets.

• They are designed to protect investors by isolating the assets and liabilities of the SPV from the sponsoring company.

• SPVs can be used for various purposes such as financing projects, managing risk, or facilitating tax planning.

• They are typically...read more

AS- Impairment of Assets is an accounting standard that deals with the recognition and measurement of impairment losses on assets.

• AS- Impairment of Assets is covered under Accounting Standard (AS) 28 issued by the Institute of Chartered Accountants of India (ICAI).

• It requires companies to assess the carrying amount of their assets and recognize impairment losses if the recoverable amount is less than the carrying amount.

• Impairment losses are recognized in the profit and loss ...read more

Count the frequency of elements in an array of strings.

• Iterate through the array and use a hashmap to store the frequency of each element.

• If the element is already in the hashmap, increment its count. Otherwise, add it to the hashmap with a count of 1.

• Return the hashmap containing the frequencies of each element.

Transpose of a matrix is obtained by swapping rows with columns.

• Transpose of a matrix can be obtained by swapping rows with columns.

• The transpose of an m x n matrix will be an n x m matrix.

• For example, if A = [[1, 2], [3, 4]], then the transpose of A will be [[1, 3], [2, 4]].