KlearNow Interview Questions and Answers

Current assets/liabilities are expected to be used/settled within a year, while non-current assets/liabilities have a longer life span.

• Current assets include cash, accounts receivable, inventory, and prepaid expenses.

• Current liabilities include accounts payable, short-term loans, and accrued expenses.

• Non-current assets include property, plant, and equipment, long-term investments, and intangible assets.

• Non-current liabilities include long-term loans, deferred tax liabilities,...read more

To find number of incident tickets from Incidents table by each category and order them by number of incident tickets in decreasing order.

• Group the data by category

• Count the number of incident tickets for each category

• Order the results by number of incident tickets in descending order

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.

Working capital is calculated by subtracting current liabilities from current assets.

• Current assets include cash, accounts receivable, inventory, and short-term investments.

• Current liabilities include accounts payable, short-term loans, and accrued expenses.

• The formula for working capital is: Current Assets - Current Liabilities.

• A positive working capital indicates that a company has enough short-term assets to cover its short-term liabilities.

• A negative working capital indic...read more

Rectification entry is made to correct a wrong posted entry in accounting records.

• Identify the incorrect entry and the correct entry to be made

• Prepare a rectification entry to reverse the incorrect entry and record the correct entry

• Ensure that the rectification entry is properly documented and approved

• Post the rectification entry to the accounting records

To swap two numbers without a third variable and built-in function in Python, use arithmetic operations.

• Use addition and subtraction to swap the numbers

• Example: a = 5, b = 10. a = a + b, b = a - b, a = a - b will swap the values

The number of zeros in the factorial of 120 is one.

• To find the number of zeros in a factorial, we need to count the number of times the factorial is divisible by 10.

• In the case of 120!, there is one zero because 120! = 120 x 119 x 118 x ... x 1 has one pair of 2 and 5, which results in one zero.

• Factors of 10 in the factorial come from pairs of 2 and 5 in the multiplication.

• For example, in 10!, there are two zeros because 10! = 10 x 9 x 8 x ... x 1 has two pairs of 2 and 5.

Provision is an estimated liability while reserve is a part of profit set aside for future use.

• Provision is an estimated liability that a company sets aside to cover a known or potential future obligation.

• Reserve is a part of profit that a company sets aside for future use, such as for expansion or to cover unexpected expenses.

• Provisions are usually based on estimates and can be adjusted as more information becomes available.

• Reserves are not based on estimates and are set asi...read more