Thought Frameworks Interview Questions and Answers

Online assessment (Technical, English, Reasoning)

Q1. Difference between Balance sheet and trial balance
Ans. 
Balance sheet shows assets, liabilities, and equity at a specific point in time. Trial balance lists all ledger accounts with their balances.
• Balance sheet is a snapshot of a company's financial position at a specific point in time.

• Trial balance is a list of all ledger accounts with their balances to ensure debits equal credits.

• Balance sheet includes assets, liabilities, and equity sections.

• Trial balance is used to prep...read more
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Q2. Standard costing formula
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Standard costing formula calculates the expected cost of a product based on predetermined standards.
• Standard costing formula includes direct materials, direct labor, and overhead costs.

• It helps in comparing actual costs with standard costs to identify variances.

• Formula: Standard Cost = Standard Quantity of Inputs x Standard Price of Inputs
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Q3. Journal entries for Prepaid Accruals Depreciation with accumulated depreciation concept Provision for Bad debts DTA and DTL
Ans. 
Explanation of journal entries for Prepaid, Accruals, Depreciation, Provision for Bad debts, DTA, and DTL.
• Prepaid expenses are initially recorded as assets and then expensed over time as they are used up.

• Accruals are expenses incurred but not yet paid or revenue earned but not yet received.

• Depreciation is the allocation of the cost of a fixed asset over its useful life, with accumulated depreciation representing the to...read more
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Q4. Case study on Ind AS 115
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Q5. Preparation of balance sheet and computation of various ratios
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Preparation of balance sheet involves listing assets, liabilities, and equity. Ratios are computed using financial data from the balance sheet.
• List all assets, liabilities, and equity on the balance sheet

• Calculate various financial ratios such as current ratio, debt to equity ratio, and return on equity

• Use formulae like Current Ratio = Current Assets / Current Liabilities

• Interpret the ratios to analyze the financial he
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Q6. Accounting principles
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Q1. What is DTA and DTL
Ans. 
DTA stands for Deferred Tax Asset and DTL stands for Deferred Tax Liability.
• DTA is an asset recorded on a company's balance sheet that may be used to reduce taxable income in the future.

• DTL is a liability recorded on a company's balance sheet that represents taxes that have been accrued but not yet paid.

• DTA arises when a company has overpaid taxes or has tax deductions that exceed its taxable income.

• DTL arises when a c...read more
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Q2. Accounting entry for accumulated depreciation
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Accumulated depreciation is a contra asset account that represents the total depreciation expense taken on an asset since it was acquired.
• Accumulated depreciation is recorded on the balance sheet as a reduction from the gross amount of fixed assets to arrive at the net book value.

• The accounting entry for accumulated depreciation involves debiting the depreciation expense account and crediting the accumulated depreciati...read more
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Q3. Few resume based questions
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Q4. Standard costing formula
Ans. 
Standard costing formula calculates the expected cost of a product based on predetermined standards.
• Standard costing formula = Standard cost of direct materials + Standard cost of direct labor + Standard manufacturing overhead cost

• Standard cost of direct materials = Standard quantity of materials x Standard price per unit

• Standard cost of direct labor = Standard hours of labor x Standard rate per hour

• Standard manufactur...read more
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Q5. Difference between budgeting and forecasting
Ans. 
Budgeting involves setting financial goals and allocating resources, while forecasting predicts future financial outcomes based on past data and trends.
• Budgeting is a plan for how to allocate resources and achieve financial goals

• Forecasting predicts future financial outcomes based on past data and trends

• Budgeting is typically done on an annual basis, while forecasting can be done on a shorter or longer term basis

• Budget...read more
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Q6. Meaning of variance analysis
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Variance analysis is a technique used to identify and analyze the difference between planned financial outcomes and actual results.
• Variance analysis helps in understanding the reasons for deviations from budgeted or expected figures.

• It involves comparing actual financial performance with budgeted or standard performance.

• Common types of variances include price variance, quantity variance, and mix variance.

• Variance analy...read more
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The Aptitude Test session accesses mathematical and logical reasoning abilities

Q1. What is Vlookup
Ans. 
Vlookup is a function in Excel used to search for a value in a table and return a corresponding value from another column.
• Vlookup stands for 'Vertical Lookup'

• It is commonly used in Excel to search for a value in the leftmost column of a table and return a value in the same row from a specified column

• Syntax: =VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])

• Example: =VLOOKUP(A2, B2:D10, 3, FALSE) - searc...read more
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Q2. Some IF else Question in Excel
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Q3. What does your day in your previous organization look like?
Ans. 
My day in my previous organization involved analyzing large datasets, creating reports, and presenting findings to stakeholders.
• Reviewing and cleaning large datasets to ensure accuracy

• Creating visualizations and reports to communicate insights

• Collaborating with team members to identify trends and patterns

• Presenting findings to stakeholders in meetings or presentations
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Q4. Could you share the technical skills you possess?
Ans. 
I possess strong technical skills in data analysis, including proficiency in programming languages, statistical analysis, and data visualization tools.
• Proficient in programming languages such as Python, R, SQL

• Skilled in statistical analysis and data modeling techniques

• Experience with data visualization tools like Tableau, Power BI

• Knowledge of machine learning algorithms and techniques
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Q5. Can you explain what a Pivot Table is?
Ans. 
A Pivot Table is a data summarization tool used in spreadsheet programs to analyze, summarize, and present data in a tabular format.
• Pivot tables allow users to reorganize and summarize selected columns and rows of data to obtain desired insights.

• Users can easily group and filter data, perform calculations, and create visualizations using pivot tables.

• Pivot tables are commonly used in Excel and other spreadsheet program...read more
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Q6. Find the Highest-paid employee in each department along with their salary and department name.
Ans. 
To find the highest-paid employee in each department, we need to group employees by department and then select the employee with the highest salary in each group.
• Group employees by department

• Find the employee with the highest salary in each group

• Retrieve the employee's name, salary, and department name
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Q1. HTML, CSS fundamentals
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Q2. Javascript event loop and array methods
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Q3. Javascript coding for operation on object array
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Q4. React benefits and Redux implementations
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Q5. How to create slice and combine reducers
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Q1. Questions based on projects, role, responsibilities and initiative at work place
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Q2. How to create and optimize a react application
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Q1. Day to day activity of workplace and salary negotiation
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The aptitude test lasts 30 minutes and focuses on topics relevant to data engineering, including Spark, SQL, Azure, and PySpark.

The coding test is a one-hour examination on PySpark.

Q1. What is the difference between Cache() and Persist()?
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Q2. What does the purpose of the Spark Submit command in Apache Spark?
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Q3. What are window functions in SQL?
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Q1. Could you provide more details about the daily responsibilities associated with this role?
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Q2. How would you describe your work culture?
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Q1. What is polymorphism,generator,decorator? List vs tuple?
Ans. 
Polymorphism allows objects of different classes to be treated as objects of a common superclass. Generators produce items one at a time. Decorators add functionality to existing functions or methods.
• Polymorphism: Enables objects of different classes to be treated as objects of a common superclass. Example: Animal superclass with Dog and Cat subclasses.

• Generator: Produces items one at a time, allowing for efficient mem...read more
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Q2. TFIDF, BOW What is embedding why important how to craete embeddings?
Ans. 
Embeddings are a way to represent words or phrases as vectors in a high-dimensional space, capturing semantic relationships.
• Embeddings are important for tasks like natural language processing, where words need to be represented in a meaningful way.

• They can be created using techniques like Word2Vec, GloVe, or using neural networks like Word Embeddings.

• Embeddings help in capturing semantic relationships between words, al...read more
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Q3. What is Encoder decoder explain with example?
Ans. 
Encoder-decoder is a neural network architecture used for tasks like machine translation.
• Encoder processes input data and generates a fixed-length representation

• Decoder uses the representation to generate output sequence

• Example: Seq2Seq model for translating English to French
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Q4. What is stop word? We need to remove in every application or not tell me example when stop words are importan?
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