Vasant Masala Assistant Manager Interview Questions and Answers

Value format is a retail format that offers products at a lower price point than traditional supermarkets.

• Value format stores typically have a smaller footprint than traditional supermarkets

• They offer a limited selection of products, focusing on essential items

• Value format stores often have their own private label brands

• Examples of value format stores include Aldi, Lidl, and Dollar General

Margin is the difference between the selling price and the cost of goods sold.

• Margin is expressed as a percentage or a dollar amount.

• To calculate margin, subtract the cost of goods sold from the selling price.

• Then divide the result by the selling price and multiply by 100 to get the percentage margin.

• For example, if an item costs $50 and is sold for $75, the margin is $25 or 33.3%.

Sales & Marketing involves promoting and selling products or services to customers. VM refers to Visual Merchandising, which is the art of presenting products in an appealing way to attract customers.

• Sales & Marketing involves identifying customer needs, promoting products or services, and closing sales.

• Marketing involves researching and analyzing market trends, identifying target audiences, and creating advertising ca...read more

Accrual account is a type of account that records revenue or expenses that have been earned or incurred but not yet received or paid.

• Accrual accounting recognizes revenue and expenses when they are earned or incurred, regardless of when the cash is received or paid.

• Accrual accounts are used to record these transactions until they are paid or received.

• Journal entry is the process of recording a transaction in the accoun...read more

Reconciliations involve comparing financial records to identify discrepancies and resolve them.

• Reconciliations are important for ensuring accuracy in financial reporting.

• The process involves comparing two sets of records, such as bank statements and accounting records.

• Any discrepancies are identified and investigated to determine the cause.

• Examples of reconciliations include bank reconciliations, accounts receivable re