20+ Migsun Group Interview Questions and Answers

Procurement is the process of acquiring goods or services from an external source.

• Procurement involves identifying the need for goods or services

• It includes selecting suppliers, negotiating contracts, and placing orders

• Procurement also involves managing supplier relationships and monitoring performance

• Examples of procurement include purchasing office supplies, hiring contractors for construction projects, and outsourcing IT services

Money laundering is the process of making illegally obtained money appear to be legitimate.

• It involves disguising the source of funds through a series of transactions

• The goal is to make the money appear to come from a legitimate source

• Common methods include using shell companies, offshore accounts, and cash businesses

• Money laundering is often associated with organized crime and drug trafficking

• It is illegal and can result in severe penalties, including imprisonment and fines

Money laundering involves several processes to make illegally obtained money appear legitimate.

• Placement: Introducing illicit funds into the financial system

• Layering: Conducting complex transactions to obscure the origin of funds

• Integration: Making the laundered money appear legitimate by merging it with legal funds

• Examples: Shell companies, offshore accounts, smurfing, trade-based laundering

Money laundering can take various forms to conceal the illegal source of funds.

• Structuring transactions to avoid reporting requirements

• Using shell companies or offshore accounts to hide the true ownership of assets

• Investing in legitimate businesses to mix illicit funds with clean money

• Using cash-intensive businesses like casinos or car washes to launder money

• Trade-based money laundering through over- or under-invoicing of goods or services

• Using virtual currencies like Bitcoin...read more

Goodwill can be removed only if it is impaired, meaning its value has decreased significantly.

• Goodwill can be removed if it is impaired, meaning its value has decreased significantly.

• Impairment of goodwill occurs when the fair value of a reporting unit is less than its carrying amount.

• Goodwill impairment is tested annually or whenever there is an indication that it may be impaired.

• If impairment is identified, the amount of impairment is recognized as a loss on the income stat...read more

AML stands for Anti-Money Laundering and KYC stands for Know Your Customer. Both are important in preventing financial crimes.

• AML is a set of regulations and procedures designed to prevent money laundering and terrorist financing.

• KYC is the process of verifying the identity of customers and assessing their potential risks.

• AML and KYC are often used together to ensure compliance with regulations and prevent financial crimes.

• Examples of AML and KYC measures include customer due...read more

Capital withdrawals journal entry reflects the owner's personal withdrawals from the business.

• Capital withdrawals decrease the owner's equity in the business.

• The journal entry for capital withdrawals involves debiting the owner's equity account and crediting the cash account.

• Example: If the owner withdraws $1,000 from the business, the journal entry would be: Debit Owner's Withdrawals $1,000, Credit Cash $1,000.

An invoice copy typically includes details such as the company name, address, invoice number, date, items purchased, quantities, prices, and total amount due.

• Company name and address

• Invoice number

• Date of invoice

• Items purchased

• Quantities of items

• Prices of items

• Total amount due

Yes, I am ready to work in night shift.

• I have prior experience of working in night shifts.

• I am willing to adjust my sleep schedule accordingly.

• I understand the importance of being alert and focused during night shifts.

• I am aware of the additional compensation and benefits offered for working in night shifts.

Accounts payable is the amount of money a company owes to its vendors or suppliers for goods and services received.

• It is a liability account in the company's balance sheet.

• It includes invoices, bills, and other expenses that are yet to be paid.

• It is an important aspect of cash flow management.

• Examples include rent, utilities, office supplies, and inventory purchases.

Recruit people by leveraging technology, social media, and employee referrals.

• Use social media platforms to advertise job openings and reach a wider audience

• Leverage technology such as applicant tracking systems to streamline the recruitment process

• Encourage employee referrals and incentivize them to refer qualified candidates

• Attend job fairs and networking events to connect with potential candidates

• Offer competitive compensation and benefits packages to attract top talent

Types of maintenance include preventive, predictive, corrective, and proactive maintenance. Each type requires different strategies to effectively manage and address maintenance issues.

• Preventive maintenance involves regularly scheduled inspections and tasks to prevent breakdowns (e.g. changing air filters in HVAC systems)

• Predictive maintenance uses data and analytics to predict when equipment will fail and schedule maintenance accordingly (e.g. vibration analysis to detect b...read more

Yes, I have a car and a motorcycle.

• I own a car for daily commute.

• I also have a motorcycle for weekend rides.

• Both vehicles are well-maintained and regularly serviced.

Yes, I am familiar with GDS languages such as Amadeus and Sabre.

• I have experience using Amadeus for booking flights and hotels

• I am proficient in using Sabre for managing reservations and ticketing

• I have received training in GDS systems during my previous job

Social media allows for easy communication and networking, but can also lead to privacy concerns and addiction.

• Advantage: Easy communication and networking with people around the world

• Advantage: Access to a wide range of information and news in real-time

• Disadvantage: Privacy concerns with personal data being shared and potentially misused

• Disadvantage: Addiction and negative impact on mental health from excessive use

• Disadvantage: Spread of misinformation and fake news leading ...read more

An intranet is a private network that is only accessible to authorized users within an organization.

• Intranets are used for internal communication, collaboration, and sharing of resources.

• They can include company news, employee directories, and internal applications.

• Intranets are typically accessed through a web browser and require authentication.

• They are different from the internet, which is a public network accessible to anyone.

• Examples of intranet software include SharePoin...read more

Capital markets are where financial securities are bought and sold, including stocks, bonds, and commodities.

• Capital markets facilitate the buying and selling of financial securities such as stocks, bonds, and commodities.

• They provide a platform for companies and governments to raise capital by issuing securities to investors.

• Investors can trade these securities through exchanges like the New York Stock Exchange (NYSE) or over-the-counter markets.

• Capital markets play a crucia...read more

E-commerce refers to the buying and selling of goods and services online.

• Online transactions

• Electronic payments

• Virtual storefronts

• Examples: Amazon, eBay, Shopify

• 24/7 availability

• Global reach