WayCool Foods and Products Associate Finance & Accounts Interview Questions and Answers

Assets should be put to use when they can generate revenue or provide value to the organization.

• Assets should be put to use when they are fully operational and can contribute to the organization's goals.

• Consider the cost of holding onto the asset versus the potential benefits of putting it to use.

• Regular maintenance and monitoring of assets are essential to ensure they are ready to be put to use.

• Examples include machin...read more

Revenue is income generated from the sale of goods or services, while capital expenses are investments in assets that provide long-term benefits.

• Revenue is the money a company earns from selling its products or services

• Capital expenses are investments in assets like buildings, equipment, or technology

• Revenue is typically recurring and essential for the day-to-day operations of a business

• Capital expenses are one-time in...read more

Assets are resources owned by a company, liabilities are debts or obligations, and equity is the difference between assets and liabilities.

• Assets include cash, inventory, equipment, and investments.

• Liabilities include loans, accounts payable, and bonds payable.

• Equity represents the owner's stake in the business and is calculated as assets minus liabilities.

• Assets = Liabilities + Equity is the fundamental accounting equ