Wipro Practice Manager Interview Questions and Answers

Lease clauses are specific terms and conditions outlined in a lease agreement that dictate the rights and responsibilities of both the landlord and tenant.

• Lease clauses can cover various aspects such as rent amount, lease duration, maintenance responsibilities, and restrictions on use of the property.

• Examples of common lease clauses include security deposit requirements, pet policies, subletting rules, and renewal opti...read more

Lease option is a real estate agreement that allows a tenant to purchase the property at a later date.

• Lease option gives the tenant the right, but not the obligation, to buy the property.

• The terms of the purchase, including price and timeline, are typically agreed upon upfront.

• During the lease period, the tenant pays rent as well as an additional fee for the option to purchase.

• If the tenant decides not to exercise the ...read more

PDM Link is a product data management software used to manage product development processes.

• PDM Link helps in managing product data, including CAD files, BOMs, and engineering change orders.

• It enables collaboration among teams and streamlines product development processes.

• PDM Link also provides version control and ensures data integrity.

• Examples of PDM Link software include Windchill PDM Link and Creo PDM Link.

PLM technology stands for Product Lifecycle Management technology.

• PLM technology is a software-based solution that helps manage the entire lifecycle of a product from ideation to disposal.

• It helps in managing product data, processes, and people involved in the product development cycle.

• PLM technology enables collaboration among different teams and departments involved in product development.

• It helps in reducing time-to...read more

The 3 golden rules of accounting are: 1. Debit the receiver, credit the giver. 2. Debit what comes in, credit what goes out. 3. Debit expenses and losses, credit income and gains.

• Rule 1: Debit the receiver, credit the giver. This means that when an asset is received, it is debited, and when a liability is given, it is credited.

• Rule 2: Debit what comes in, credit what goes out. This means that when there is an inflow of...read more

BRS stands for Business Requirement Specification. It is a document that outlines the requirements for a project or product.

• BRS is used to clearly define the scope and objectives of a project or product

• It helps to ensure that all stakeholders have a common understanding of the requirements

• BRS can be used as a reference throughout the project to ensure that it stays on track

• Examples of information included in a BRS are ...read more

Depreciation is the decrease in value of an asset over time due to wear and tear, obsolescence or other factors.

• Depreciation is a non-cash expense that reduces the value of an asset on the balance sheet

• There are three types of depreciation: straight-line, accelerated, and units of production

• Straight-line depreciation is when the asset loses an equal amount of value each year

• Accelerated depreciation is when the asset lo...read more

Goods requisition is the process of requesting and obtaining necessary items or materials for a particular purpose.

• It involves identifying the required goods or materials

• It involves submitting a request for the goods or materials

• It involves obtaining the goods or materials once the request is approved

• Examples include requisition of office supplies, equipment, or raw materials for production

Insurance is a financial protection against potential losses or damages.

• Insurance is a contract between an individual or entity and an insurance company.

• The individual or entity pays a premium in exchange for coverage against specified risks.

• Common types of insurance include health, auto, home, and life insurance.

• Insurance helps mitigate financial risks by providing compensation for covered losses.

• Insurance is regulate...read more