Kotak Mahindra Bank Credit Processing Associate Interview Questions and Answers

The formula for Cost of Goods Sold (COGS) is the beginning inventory plus purchases minus ending inventory.

• COGS = Beginning Inventory + Purchases - Ending Inventory

• Beginning Inventory refers to the value of inventory at the start of the accounting period

• Purchases represent the cost of additional inventory acquired during the period

• Ending Inventory is the value of inventory at the end of the accounting period

• COGS is an important measure for businesses to calculate their profit...read more

AY and FY are abbreviations used in financial contexts to refer to different time periods.

• AY stands for Assessment Year, which is the year in which income is assessed for tax purposes.

• FY stands for Financial Year, which is the year in which financial statements are prepared.

• AY is used in the context of income tax calculations, while FY is used in the context of financial reporting.

• For example, if the financial year is April 2021 to March 2022, the assessment year would be 202...read more

Yes, I have knowledge of the banking industry.

• I have a degree in finance and have worked in banking for 5 years.

• I am familiar with banking regulations and procedures.

• I have experience in credit processing and loan approvals.

• I have attended industry conferences and workshops to stay updated on industry trends.

Yes, I have seen audited financial statements during my previous role as a financial analyst.

• Yes, I have reviewed audited financial statements as part of my job responsibilities.

• I have experience analyzing financial data and ensuring accuracy in financial reports.

• I am familiar with the process of auditing financial statements to ensure compliance with regulations and standards.

The profit is the financial gain obtained by subtracting the total cost from the total revenue.

• Profit = Total Revenue - Total Cost

• It is a measure of financial success for a business or individual

• It can be expressed as a percentage of revenue or cost

• Example: If a company earns $100,000 in revenue and incurs $80,000 in costs, the profit is $20,000

• Example: If a product costs $50 to produce and is sold for $75, the profit is $25

Yes, I am familiar with the market trends, competitors, and customer preferences.

• I regularly research market trends and competitor activities to stay updated

• I analyze customer feedback and preferences to understand market demands

• I attend industry conferences and networking events to stay connected with market influencers