Conneqt Business Solutions Phone Banking Officer Interview Questions and Answers

Accrual account is a type of account that records revenue or expenses that have been earned or incurred but not yet received or paid.

• Accrual accounting recognizes revenue and expenses when they are earned or incurred, regardless of when the cash is received or paid.

• Accrual accounts are used to record these transactions until they are paid or received.

• Journal entry is the process of recording a transaction in the accoun...read more

Amortization is for intangible assets while Depreciation is for tangible assets.

• Amortization is the process of spreading the cost of an intangible asset over its useful life.

• Depreciation is the process of spreading the cost of a tangible asset over its useful life.

• Amortization is used for assets like patents, copyrights, and trademarks.

• Depreciation is used for assets like buildings, machinery, and vehicles.

• Both methods...read more

Reconciliations involve comparing financial records to identify discrepancies and resolve them.

• Reconciliations are important for ensuring accuracy in financial reporting.

• The process involves comparing two sets of records, such as bank statements and accounting records.

• Any discrepancies are identified and investigated to determine the cause.

• Examples of reconciliations include bank reconciliations, accounts receivable re

I joined IBM as a fresh graduate and faced challenges adapting to the corporate environment.

• Transitioning from a student to a professional was difficult

• Learning to navigate the corporate culture and hierarchy was a challenge

• Managing workload and expectations in a fast-paced environment was tough

• Dealing with difficult clients or projects tested my problem-solving skills

My weakness is that I can be overly critical of myself, but my strength is my ability to adapt quickly to new situations.

• Weakness: tend to be overly critical of myself

• Strength: ability to adapt quickly to new situations