Interview Questions and Answers

Prepaid expenses are paid in advance while postpaid expenses are paid after the service is received.

• Prepaid expenses are recorded as assets on the balance sheet until they are used up.

• Postpaid expenses are recorded as expenses on the income statement when they are incurred.

• Examples of prepaid expenses include insurance premiums and rent payments in advance.

• Examples of postpaid expenses include utility bills and salaries paid at the end of the month.

GST stands for Goods and Services Tax, a value-added tax levied on most goods and services sold for domestic consumption.

• GST is a consumption tax that is collected at each stage of the supply chain.

• It replaced multiple indirect taxes in India and aims to simplify the tax structure.

• GST has different rates for different goods and services, such as 5%, 12%, 18%, and 28%.

• Input tax credit can be claimed on GST paid on inputs used in the production of goods or services.

• GST registra...read more

Deferred revenue is income received by a company in advance of earning it, resulting in a liability on the balance sheet.

• Deferred revenue represents a liability for the company until the goods or services are delivered to the customer.

• It is common in subscription-based businesses where customers pay upfront for services that will be provided over time.

• Once the revenue is earned, it is recognized on the income statement.

• Examples include magazine subscriptions, software license...read more

Antivirus is a software program designed to detect, prevent, and remove malicious software from a computer system.

• Antivirus software scans files and programs on a computer for known viruses and malware.

• It can also provide real-time protection by monitoring incoming data and blocking potential threats.

• Examples of popular antivirus software include Norton, McAfee, and Avast.

Firewall is a network security system that monitors and controls incoming and outgoing network traffic. VPN is a secure connection between two networks over the internet.

• Firewall acts as a barrier between a trusted internal network and untrusted external network

• It can be hardware or software-based

• It can block or allow traffic based on predefined rules

• VPN creates a secure and encrypted connection between two networks over the internet

• It allows remote access to a private networ...read more

An IP address is a unique numerical identifier assigned to every device connected to the internet.

• IP stands for Internet Protocol.

• It consists of a series of numbers separated by periods.

• There are two types of IP addresses: IPv4 and IPv6.

• IPv4 addresses are 32-bit numbers and IPv6 addresses are 128-bit numbers.

• Examples of IP addresses are 192.168.0.1 and 2001:0db8:85a3:0000:0000:8a2e:0370:7334.

By understanding their needs, building trust, offering solutions, and providing excellent customer service.

• Listen actively to the customer to understand their needs and concerns.

• Build trust by being honest, transparent, and reliable.

• Offer personalized solutions that meet the customer's specific needs and preferences.

• Provide excellent customer service by being responsive, attentive, and helpful.

• Follow up with the customer to ensure their satisfaction and address any further co...read more