Genpact
10+ Cinque Technologies Interview Questions and Answers
Q1. What is Purchase Order?
A Purchase Order is a document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.
A Purchase Order is a legally binding document
It specifies the details of the products or services being purchased
It includes quantities, prices, delivery dates, and terms of payment
It serves as a record of the transaction between the buyer and seller
Examples: PO#1234 for 100 units of Product A at $10 each, to be delivered by 01/01/2023
Q2. What is Credit card and Debit card & how do you use if you have.
Credit and Debit cards are payment cards that allow you to make purchases without using cash.
Credit cards allow you to borrow money from the card issuer up to a certain limit and pay it back later with interest.
Debit cards are linked to your bank account and allow you to spend the money you have in your account.
Both cards can be used to make purchases online, in stores, and at ATMs.
Credit cards offer rewards and cashback programs, while debit cards do not.
It is important to k...read more
Q3. How many types account and Golden rule of accounts:
There are two types of accounts - Personal and Impersonal. The Golden Rule of Accounts states that Debit what comes in, Credit what goes out.
Types of accounts: Personal (e.g. Capital, Drawings) and Impersonal (e.g. Cash, Furniture)
Golden Rule of Accounts: Debit the receiver, Credit the giver (e.g. Debiting Cash when it comes into the business, Crediting Sales when goods are sold)
Q4. What is Invoice?
An invoice is a document that lists the products or services provided by a seller to a buyer, along with the cost and payment terms.
An invoice serves as a request for payment from the buyer to the seller.
It typically includes details such as the quantity, description, price, and total amount due for the products or services.
Invoices are used in business transactions to keep track of sales and payments.
They may also include terms of payment, such as due date and payment method...read more
Q5. What is accounts payable?
Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.
Accounts payable represents a company's short-term debt obligations to its suppliers or vendors.
It is recorded as a liability on the company's balance sheet.
Accounts payable is typically paid within a specified period, often 30, 60, or 90 days.
Examples of accounts payable include invoices from suppliers for inventory purchases, utility bills, and servic...read more
Q6. What do you understand by banking.
Banking refers to the business of accepting deposits and lending money.
Banking involves accepting deposits from customers and using those funds to provide loans and other financial services.
Banks also offer services such as credit cards, investment products, and insurance.
Banking is regulated by government agencies to ensure safety and soundness of the financial system.
Examples of banks include JPMorgan Chase, Bank of America, and Wells Fargo.
Q7. What is accounting and golden rules of accounting?
Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business.
Accounting involves recording financial transactions of a business.
Golden rules of accounting include: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains.
Accounting helps in summarizing and analyzing financial data to make informed business decisions.
Financial statements like balance...read more
Q8. what is AML and Kyc?
AML stands for Anti-Money Laundering and KYC stands for Know Your Customer.
AML is a set of laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.
KYC is a process of verifying the identity of customers and assessing their potential risks of illegal intentions.
AML and KYC are important in financial institutions to prevent money laundering and terrorist financing.
Examples of AML and KYC measures include cust...read more
Q9. What is entity's and UBO?
Entity and UBO refer to legal entities and ultimate beneficial owners respectively.
Entity refers to a company, organization or institution that has a legal identity separate from its members or owners.
UBO refers to the natural person(s) who ultimately own or control a legal entity.
UBO information is important for anti-money laundering and counter-terrorism financing measures.
Examples of entities include corporations, partnerships, and trusts.
Examples of UBOs include individua...read more
Q10. What is Pep and sanction?
Pep and sanction are measures taken to prevent money laundering and terrorist financing.
Pep stands for politically exposed person, which refers to individuals who hold prominent public positions or have close associations with such individuals.
Sanction refers to the restriction or prohibition of financial transactions with certain individuals, organizations, or countries due to their involvement in illegal activities or human rights violations.
These measures are implemented b...read more
Q11. What does Genpact?
Genpact is a global professional services firm that provides business process outsourcing and digital transformation services.
Global professional services firm
Specializes in business process outsourcing
Offers digital transformation services
Headquartered in New York, USA
Operates in various industries such as banking, healthcare, and manufacturing
Q12. Types of financial statements?
Financial statements include income statement, balance sheet, cash flow statement, and statement of changes in equity.
Income statement shows company's revenues and expenses over a period of time.
Balance sheet shows company's assets, liabilities, and shareholders' equity at a specific point in time.
Cash flow statement shows how cash and cash equivalents have moved in and out of the company.
Statement of changes in equity shows changes in shareholders' equity over a period of ti...read more
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