Indian Political Action Committee Associate Interview Questions and Answers

Journal entries for accruals

• Accruals are used to record expenses or revenues that have been incurred but not yet paid or received.

• Accrued expenses are recorded with a debit to the expense account and a credit to the accrued liability account.

• Accrued revenues are recorded with a debit to the accrued asset account and a credit to the revenue account.

• Example of an accrued expense: Accrued salaries payable - Debit Salaries...read more

Testing for oil leakage in transformers involves visual inspection, oil analysis, and pressure testing.

• Visual inspection of the transformer for any signs of oil leakage

• Oil analysis to check for any abnormal levels of dissolved gases or contaminants

• Pressure testing to check for any leaks in the transformer's oil-filled compartments

• Use of ultrasonic testing to detect any leaks in the transformer's tank

• Regular maintenance

I will conduct a thorough testing and inspection process to identify any errors in the Feeder.

• Perform visual inspection of the Feeder

• Conduct electrical testing to ensure proper functioning

• Check for any loose connections or damaged components

• Compare the Feeder's performance to the expected results

• Review any error logs or system alerts

• Consult with colleagues or experts for additional input