Loombiz Accounts Manager Interview Questions and Answers for Freshers

A bank is a financial institution that accepts deposits from the public and creates credit.

• Banks provide various financial services such as loans, credit cards, and savings accounts.

• They also facilitate transactions such as wire transfers and issuing of checks.

• Banks earn profits by charging interest on loans and fees for their services.

• Examples of banks include JPMorgan Chase, Bank of America, and Wells Fargo.

A balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time.

• It provides a snapshot of a company's financial position

• Assets are listed first, followed by liabilities and equity

• The equation Assets = Liabilities + Equity must always balance

• It helps investors and creditors evaluate a company's financial health

• Examples of assets include cash, inventory, and pro...read more

Profit and Loss account is a financial statement that shows a company's revenues, expenses, and net income or loss over a specific period.

• It is also known as an income statement.

• It shows the company's financial performance over a specific period.

• The revenue section includes sales, fees, and other income.

• The expense section includes cost of goods sold, salaries, rent, and other expenses.

• The net income or loss is calcula...read more

I managed to fill the form for my banking examination by carefully reading the instructions and double-checking my answers.

• I read the instructions thoroughly before starting to fill the form.

• I made sure to understand the format and structure of the form.

• I double-checked all my answers before submitting the form.

• I sought help from the bank staff if I had any doubts or questions.

• I kept a copy of the filled form for my re