IQ BackOffice Junior Process Associate Interview Questions and Answers

Q1. As for the position of AP they asked accounting relating questions such as golden rules,journal enteries, Enteries in balance sheet etc.,
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Q2. Tell me the golden rules.?
Ans. 
The golden rules are fundamental principles or guidelines that should be followed for success or effectiveness.
• Treat others as you want to be treated

• Always be honest and ethical

• Take responsibility for your actions

• Communicate effectively and listen actively

• Continuous learning and improvement
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Q3. In which side the furniture would in balance sheet.?
Ans. 
Furniture would be classified as a fixed asset on the balance sheet.
• Furniture is considered a long-term asset and is typically categorized under fixed assets on the balance sheet.

• It is important for companies to accurately record the value of furniture to reflect the true financial position.

• Depreciation is usually applied to furniture over its useful life to account for wear and tear.

• Examples of furniture include desks
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Q4. Tell me Purchase return journal entry.?
Ans. 
Purchase return journal entry is used to record the return of purchased goods to the supplier.
• Debit the accounts payable account to reverse the original purchase

• Credit the inventory account to reduce the inventory on hand

• Include a brief description of the reason for the return in the journal entry

• Ensure the journal entry is properly documented and approved by authorized personnel
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Q5. Credit sales journal enteries.?
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GENERAL APTITUDE TEST

Q1. General Excel knowledge
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Q2. Entertainment Resource Planning knowledge about the basic
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Q1. Fresher have different way of question
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Q2. Experience's have a previous process knowledge and about the general concept of the process
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It's like a easy way to conduct.

Q1. It's computer knowledge test.
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Q1. It's final round taken by manager's & other Team Lead's
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It was easy. Only basic aptitude will be checked.

Q1. Typing test would follow after aptitude test
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Q1. Basic questions from the paper we have chosen eg I applied for AP process so they asked about balance sheet, ledger, enteries etc .
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