Raagam Consulting Interview Questions and Answers

Journal entries for accruals

• Accruals are used to record expenses or revenues that have been incurred but not yet paid or received.

• Accrued expenses are recorded with a debit to the expense account and a credit to the accrued liability account.

• Accrued revenues are recorded with a debit to the accrued asset account and a credit to the revenue account.

• Example of an accrued expense: Accrued salaries payable - Debit Salaries...read more

Polymorphism is the ability of an object to take on many forms.

• Polymorphism allows objects of different classes to be treated as if they are of the same class.

• It is achieved through method overriding and method overloading.

• Examples include function overloading, operator overloading, and inheritance.

• Polymorphism helps in achieving loose coupling and flexibility in code design.

Abstract class is a class that can have both abstract and non-abstract methods while an interface can only have abstract methods.

• Abstract class can have constructors while interface cannot

• A class can implement multiple interfaces but can only inherit from one abstract class

• Abstract class can have instance variables while interface cannot

• Abstract class can provide default implementation for some methods while interface ...read more

Custom exceptions can be created by extending the Exception class and defining the desired behavior.

• Create a new class that extends the Exception class

• Define the desired behavior for the exception

• Throw the custom exception when necessary