UMESH CONSTRUCTION COMPANY Interview Questions and Answers

Budget control involves planning, monitoring, and adjusting financial resources to achieve organizational goals effectively.

• Establishing a budget: Create a detailed financial plan outlining expected revenues and expenses, e.g., annual departmental budgets.

• Monitoring performance: Regularly compare actual financial performance against the budget to identify variances, e.g., monthly financial reports.

• Variance analysis: In...read more

The BOCW Act ensures minimum wages and welfare for construction workers, promoting their rights and safety.

• The BOCW Act mandates the payment of minimum wages to construction workers, ensuring fair compensation for their labor.

• It establishes welfare measures such as health insurance, housing, and education for workers and their families.

• The Act applies to various construction activities, including building, roads, and b...read more

Indirect costs are expenses not directly tied to a product, while overhead costs are ongoing business expenses.

• Indirect costs are not directly attributable to a specific project or product, e.g., administrative salaries.

• Overhead costs include all ongoing expenses to operate a business, e.g., rent, utilities.

• All overhead costs are indirect costs, but not all indirect costs are overhead costs.

• Examples of indirect costs: ...read more