Associate Processor Interview Questions and Answers

BRS is Bank Reconciliation Statement, PREPAID is an expense paid in advance, ACCRUED is an expense incurred but not yet paid.

• BRS is a statement that compares the bank balance in the company's records with the bank statement

• PREPAID expenses are recorded as assets until they are used or expire

• ACCURED expenses are recorded as liabilities until they are paid

• Examples of PREPAID expenses include rent paid in advance, insurance premiums, and prepaid subscriptions

• Examples of ACCRUED ...read more

Process is a series of steps taken to achieve a specific goal, while work is the effort put into completing a task.

• Process involves planning, organizing, executing, and monitoring a set of activities to achieve a desired outcome

• Work is the physical or mental effort put into completing a task or achieving a goal

• Process and work are interrelated, as work is a part of the process

• Example: The process of building a house involves various tasks such as designing, laying the foundat...read more