Ingram Micro Senior Associate Interview Questions and Answers

Mutual funds are investment vehicles that pool money from multiple investors to purchase securities.

• Mutual funds are managed by professional fund managers

• Investors can buy and sell mutual fund shares at the end of each trading day

• Examples of mutual funds include Vanguard 500 Index Fund, Fidelity Contrafund, and American Funds Growth Fund of America

The 3 golden rules of accounts are the basic principles of accounting that every accountant should follow.

• Rule 1: Debit the receiver, credit the giver - This means that when a business receives something, it should debit the account that receives it and credit the account that gave it.

• Rule 2: Debit what comes in, credit what goes out - This means that when a business receives something, it should debit the account that...read more

Accrual concept of accounting recognizes revenue and expenses when they are earned or incurred, regardless of when payment is received or made.

• Revenue is recognized when it is earned, not when payment is received

• Expenses are recognized when they are incurred, not when payment is made

• Accrual accounting provides a more accurate picture of a company's financial health

• Example: A company provides services in December but do...read more

High water mark, corporate actions, journal entries, forwards, options, and in the money options are all important concepts in hedge funds.

• High water mark refers to the highest peak in a hedge fund's net asset value (NAV) history.

• Corporate actions such as splits and spin-offs can affect the value of a hedge fund's holdings.

• Journal entries are used to record transactions in a hedge fund's accounting system.

• Forwards are ...read more