LG Electronics Manager Interview Questions and Answers

Contingent liability is a potential obligation that may arise in the future depending on the outcome of a specific event.

• It is a possible liability that may or may not occur in the future

• It depends on the outcome of a specific event

• It is recorded in the financial statements as a footnote

• Examples include pending lawsuits, warranties, and guarantees

Accrual is recognition of revenue or expense before payment. Provision is an estimated expense or liability.

• Accrual is recognized when revenue or expense is incurred, regardless of payment.

• Provision is an estimated expense or liability that may or may not occur in the future.

• Accrual is a part of the accounting process, while provision is a part of financial planning.

• Examples of accrual include salaries payable and inte...read more

My strength lies in my ability to lead and motivate teams towards achieving common goals.

• Effective communication skills

• Strong problem-solving abilities

• Ability to delegate tasks and responsibilities

• Experience in managing diverse teams

• Proven track record of achieving targets and deadlines