20+ Sl Lumax Interview Questions and Answers

ERP stands for Enterprise Resource Planning. It is a software system that integrates various business processes and functions to streamline operations and improve efficiency.

• ERP helps businesses by centralizing and automating processes, such as finance, HR, inventory management, and customer relationship management.

• It provides real-time visibility into business data, enabling better decision-making and resource allocation.

• ERP improves collaboration and communication across de...read more

I chose ML over Mechanical because of my passion for data analysis and problem-solving.

• Passion for data analysis and problem-solving

• Interest in cutting-edge technology and AI

• Opportunities for growth and innovation in ML field

Recent amendments in GST include changes in rates, compliance requirements, and input tax credit rules.

• Changes in GST rates for various goods and services

• Updates in compliance requirements such as filing deadlines and forms

• Modifications in input tax credit rules to prevent misuse

• Introduction of e-invoicing system for certain taxpayers

• Amendments in GST return filing process to simplify compliance

External load balancing distributes traffic across multiple servers in different locations, while internal load balancing distributes traffic across multiple servers within the same location.

• External load balancing is useful for handling high traffic from different geographic locations

• Internal load balancing is useful for handling high traffic within a data center

• External load balancing can improve availability and reduce latency for users

• Internal load balancing can improve a...read more

Audit risk is the risk that the financial statements are materially misstated despite an audit being conducted.

• Audit risk is the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated.

• It consists of inherent risk, control risk, and detection risk.

• Inherent risk is the susceptibility of an assertion to a material misstatement, control risk is the risk that a material misstatement could occur and not be prevented or ...read more

To audit PPE and Debtors, conduct physical verification, review documentation, test for impairment, and assess valuation.

• Conduct physical verification of PPE assets to ensure existence and condition

• Review documentation such as invoices, contracts, and agreements related to PPE and Debtors

• Test for impairment by assessing the recoverable amount of PPE assets

• Assess the valuation of PPE and Debtors by comparing with market values or historical cost

• Perform analytical procedures to...read more