Global FPO Interview Questions, Process, and Tips

Q1. 1. WHAT IS PREPAID AND DEFFERED
Ans. 
Prepaid refers to payment made in advance for goods or services, while deferred refers to payment made at a later date.
• Prepaid involves paying for goods or services before receiving them

• Deferred involves paying for goods or services at a later date

• Examples of prepaid include prepaid phone plans or gift cards

• Examples of deferred include payment plans or layaway programs
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Q1. Basic accounting and payroll journal enteries
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Q2. Basic accounting enteries
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Q1. Career and background
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Accounting questions like journal entry, bank passbook balance with cash balance, revenue expenditure deffered

Q1. Prepaid expense entry for the year Depreciation entry Trade discount Cash discount
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Q2. Sales return entry wrongly credited to purchase return,
Ans. 
The sales return entry should be debited to sales return account and credited to customer's account.
• Sales return entry should be debited to sales return account

• Sales return entry should be credited to customer's account

• Ensure correct accounts are debited and credited to rectify the error
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Q1. Past experience in previous organisations what they used to do which Market they operated in?
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Q2. What is you CTC, what's your expectations fixed and variable, notice period, and can you come in for an in person interview?
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Q1. Introduction about you self, previous organisations and qualifications.
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Q2. What markets you worked in, shift timings?
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Q3. What was your daily routine, how would your day look like?
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Q4. Since I am from sales, what was monthly, quarterly, half yearly and annual Target looked like, and how did you achieve them?
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Q1. What you previous companies were in to?
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Q2. What was your target monthly, quarterly, half yearly, annual and how did you achieve them?
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Q3. Why did you change all you past organisations ?
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Q1. Provide Journal Entry of Purchasing a New car on loan and also exchange the old car with a certain amount of accumulated depreciation.
Ans. 
Journal entry for purchasing a new car on loan and exchanging the old car with accumulated depreciation.
• Debit the new car account for the cost of the new car

• Credit the loan payable account for the amount of the loan

• Debit the accumulated depreciation account for the amount of depreciation on the old car

• Credit the old car account for the book value of the old car

• Debit or credit any cash paid or received in the exchange
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