1000+ Associate Interview Questions and Answers

Basic accounting concepts and journal entries explained

• Golden rules of accounting are: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains

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

• Journal entries are used to record transactions in the account...read more

Call option holder would gain.

• A call option gives the holder the right to buy the security at a predetermined price, known as the strike price.

• If the price of the security is showing an upward trend, the call option holder can exercise their option and buy the security at the lower strike price, then sell it at the higher market price for a profit.

• On the other hand, a put option gives the holder the right to sell the security at a predetermined price.

• If the price of the secur...read more

Solvents are liquids used to dissolve or dilute other substances. Paints are made up of pigments, binders, solvents, and additives.

• Solvents are used to dissolve or dilute other substances in order to create a solution.

• Paints are made up of pigments, binders, solvents, and additives.

• Common solvents used in paint making include mineral spirits, turpentine, and acetone.

• Solvents are important in paint making because they help to control the viscosity and drying time of the paint....read more

To increase profitability per ton for a cement manufacturer, we can focus on reducing production costs and increasing sales revenue.

• Analyze the current production process and identify areas where costs can be reduced

• Implement cost-saving measures such as using alternative fuels or optimizing energy usage

• Explore new markets and increase sales volume

• Offer value-added services such as technical support or training to customers

• Invest in research and development to improve product...read more

Truncate resets identity value, delete does not.

• Truncate resets the identity value to the original seed value

• Delete does not change the identity value

• Example: Truncate table resets identity value to 1

• Example: Delete from table does not change identity value

AMC stands for Asset Management Company. Knowledge of Excel refers to proficiency in using Excel software. Advanced tools of Excel refer to the advanced features and functions available in Excel.

• AMC stands for Asset Management Company, which is a company that invests and manages funds on behalf of clients.

• Knowledge of Excel refers to the ability to use Excel software for data analysis, calculations, and creating spreadsheets.

• Advanced tools of Excel include features like pivot...read more

Inbound and outbound callings refer to different types of phone calls made by individuals or organizations.

• Inbound calling involves receiving incoming calls from customers or clients.

• Outbound calling involves making outgoing calls to customers or clients.

• Inbound calls are typically related to customer service, support, or inquiries.

• Outbound calls are often made for sales, marketing, or follow-up purposes.

• Examples of inbound calling include answering customer queries or provid...read more

Around 600 flights are handled by Bangalore airport on a daily basis.

• Bangalore airport is one of the busiest airports in India

• It handles both domestic and international flights

• On average, there are around 25-30 flights per hour

• The number of flights may vary depending on the day of the week and time of the year

I would like to work on Artificial Intelligence.

• Developing machine learning algorithms for predictive analysis

• Creating chatbots for customer service

• Implementing computer vision for object recognition

• Exploring natural language processing for sentiment analysis

My preferred programming language is Python.

• Python is easy to learn and has a simple syntax.

• It has a vast library of modules and frameworks for various purposes.

• Python is widely used in data science and machine learning.

• It is also great for web development and automation tasks.

• Examples: Flask, Django, NumPy, Pandas, TensorFlow.

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

I handle custom exceptions by creating my own exception classes and throwing them when necessary.

• I create custom exception classes that extend the built-in Exception class

• I throw these exceptions when specific errors occur in my code

• I catch these exceptions in a try-catch block and handle them appropriately

• I include helpful error messages in my custom exceptions to aid in debugging

Program to find the sum of squares of each term of Fibonacci series

• Generate Fibonacci series using loop or recursion

• Calculate square of each term

• Add all squares to get the sum

The demand for broadband connections is expected to increase significantly in the next 5 years.

• The rise of remote work and online education will drive the demand for broadband connections.

• The increasing popularity of streaming services and online gaming will also contribute to the demand.

• The development of new technologies such as 5G and IoT will require faster and more reliable internet connections.

• The COVID-19 pandemic has accelerated the shift towards digitalization, furth...read more

Enterprise value is the total value of a company, including debt and equity.

• Enterprise value is calculated by adding market capitalization, debt, and minority interest, and then subtracting cash and cash equivalents.

• It represents the total value of a company that an acquirer would have to pay to take over the company.

• Enterprise value is a more accurate representation of a company's value than market capitalization alone.

• For example, if a company has a market capitalization of...read more

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

The net share value of Federal Bank is constantly changing and can be found on financial websites or through a stockbroker.

• The net share value of Federal Bank is determined by the market demand and supply of its shares.

• It can be found on financial websites such as Yahoo Finance or through a stockbroker.

• As of a specific date or time, the net share value may be different.

• The net share value is an important indicator of the bank's financial health and performance.

Ind AS 115 and Ind AS 116 are accounting standards used for revenue recognition and lease accounting respectively.

• Ind AS 115: It provides guidance on how to recognize revenue from contracts with customers.

• Ind AS 116: It outlines the principles for recognizing, measuring, presenting, and disclosing leases.

• Both standards are part of the Indian Accounting Standards (Ind AS) framework.

• Ind AS 115 replaces the previous revenue recognition standard (Ind AS 18) and provides a compreh...read more

Endpoints in microservices are responsible for handling incoming requests and sending responses.

• Endpoints are the entry points for a microservice

• They handle incoming requests and send responses

• Endpoints can be HTTP endpoints, message queue endpoints, or event-driven endpoints

• Examples of endpoints include RESTful APIs, SOAP APIs, and GraphQL APIs

I know multiple programming languages including Java, Python, and C++.

• Proficient in Java with experience in developing web applications using Spring framework

• Familiar with Python for data analysis and machine learning

• Experience in C++ for developing high-performance applications

• Also familiar with HTML, CSS, and JavaScript for front-end development

Code to print the second largest element in array

• Sort the array in descending order and return the second element

• Iterate through the array and keep track of the largest and second largest elements

• Use a priority queue to find the second largest element

A discrepancy report is a document that highlights differences between two sets of data and identifies the reasons for the differences.

• A discrepancy report is used to identify and resolve discrepancies between two sets of data.

• It is important to include the reasons for the discrepancies in the report.

• Examples of discrepancies include differences in inventory counts or financial statements.

• The report should be clear and concise, with recommendations for resolving the discrepan...read more

Investment banking involves providing financial services to corporations, governments, and other institutions.

• Investment banking involves underwriting securities, providing financial advisory services, and facilitating mergers and acquisitions.

• Capital markets are where securities such as stocks and bonds are bought and sold.

• Derivatives are financial instruments that derive their value from an underlying asset or benchmark.

• The golden rule of accounting is that debits must equa...read more

Yes, there are various technologies used in barcode readers.

• Laser scanners: Use a laser beam to read barcodes.

• CCD scanners: Use an array of tiny light sensors to capture barcode data.

• Camera-based scanners: Use image processing techniques to read barcodes.

• Pen-type scanners: Require the user to swipe the scanner across the barcode.

• Mobile barcode scanners: Utilize the camera of a mobile device to scan barcodes.

I demonstrated my ability to communicate effectively during a team project.

• I actively listened to my team members' ideas and concerns.

• I provided clear and concise instructions to ensure everyone understood their roles and responsibilities.

• I encouraged open communication and feedback throughout the project.

• I presented our team's findings and recommendations to our supervisor in a clear and organized manner.

• As a result, our team received positive feedback and recognition for ou...read more

Prepare a pH buffer solution as per defined standard in tablet.

• Determine the required pH value and buffer capacity

• Select the appropriate buffer system and calculate the required amounts of buffer components

• Dissolve the buffer components in water and adjust the pH as necessary

• Check the pH and adjust if necessary

• Filter the solution and store in a clean container

• Use a calibrated pH meter to verify the pH of the solution

Encountered a problem with a malfunctioning machine and found no solution initially

• Encountered a problem with a malfunctioning machine that was affecting production

• Tried troubleshooting and consulting manuals but couldn't find a solution

• Reached out to the manufacturer for assistance

• Manufacturer sent a technician who identified the issue and fixed it

• Production resumed as normal

Big data refers to large and complex data sets that cannot be processed using traditional data processing methods.

• Big data is characterized by its volume, velocity, and variety

• It is used in various industries such as healthcare, finance, and retail

• Examples of big data include social media data, sensor data, and transactional data

• It is called 'big' because it involves processing massive amounts of data

• Big data requires specialized tools and technologies for processing and anal...read more

Some common annotations used in Spring Boot are @RestController, @Autowired, @RequestMapping, @Service, @Component, @Repository.

• @RestController - Used to define a controller class in Spring MVC.

• @Autowired - Used for automatic dependency injection.

• @RequestMapping - Used to map web requests to specific handler methods.

• @Service - Indicates that a class is a service.

• @Component - Indicates that a class is a Spring component.

• @Repository - Indicates that a class is a repository.

Money laundering is the process of disguising the proceeds of illegal activity as legitimate funds.

• Money laundering involves three stages: placement, layering, and integration.

• Placement involves introducing the illegal funds into the financial system.

• Layering involves moving the funds through a series of transactions to make it difficult to trace their origin.

• Integration involves using the laundered funds to purchase assets or invest in legitimate businesses.

• An example of mon...read more

I will immediately disconnect from the internet and run a virus scan to remove the virus.

• Disconnect from the internet to prevent further spread of the virus

• Run a virus scan using an updated antivirus software

• If the virus cannot be removed, seek help from IT support

• Regularly backup important files to prevent data loss

Asset management involves managing a portfolio of assets on behalf of clients, while investment banking focuses on providing financial advisory services and raising capital for companies.

• Asset management involves managing a portfolio of assets (stocks, bonds, real estate, etc.) on behalf of clients to achieve their investment goals.

• Investment banking involves providing financial advisory services, underwriting securities, and facilitating mergers and acquisitions to help comp...read more

Explaining differences between Informatica Powercenter grid components and concepts

• Joiner combines data from two sources based on a common key, while Lookup retrieves data from a reference table based on a matching key

• Router sends data to different targets based on specified conditions, while Filter removes rows from a data set based on specified criteria

• Mapplet is a reusable object that contains a set of transformations, but has limitations such as not being able to use dyna...read more

Internal values of const objects can be updated in JavaScript due to the nature of const keyword.

• The const keyword only prevents reassignment of the variable identifier, not the object itself.

• Internal values of objects can be modified without reassigning the object.

• This behavior is different from other programming languages where const objects are completely immutable.

Adverse and qualified opinions in auditing and how to check payables and receivables.

• Adverse opinion is given when the financial statements are materially misstated and the auditor is unable to obtain sufficient evidence to support the amounts and disclosures in the statements.

• Qualified opinion is given when the financial statements are fairly presented except for a specific matter that is disclosed in the opinion.

• To check payables, review the accounts payable aging report an...read more

If a company becomes insolvent, the entry should be recorded as a loss in the financial statements.

• Insolvency occurs when a company is unable to pay its debts and liabilities.

• The entry to record insolvency typically involves recognizing a loss on the balance sheet.

• The specific accounts affected will depend on the nature of the insolvency and the company's accounting policies.

• For example, if a company becomes insolvent due to bad debts, the entry may involve debiting the bad d...read more

Lists are dynamic arrays in Python that can hold different data types, while arrays are fixed-size and can only hold a single data type.

• Lists can hold different data types, while arrays can only hold a single data type.

• Lists are dynamic in size, while arrays have a fixed size.

• Lists are more flexible and versatile compared to arrays.

• Example: list_example = [1, 'hello', True]

• Example: array_example = array('i', [1, 2, 3])

Spring Boot uses RestTemplate or FeignClient to connect to other microservices.

• Use RestTemplate to make HTTP requests to other microservices.

• Use FeignClient to create a client interface for other microservices.

• Configure the URL and port of the microservice in the application.properties file.

• Use @Autowired annotation to inject RestTemplate or FeignClient in the service class.

• Handle exceptions and errors when connecting to other microservices.

The types of capital markets include primary markets and secondary markets.

• Primary markets are where new securities are issued and sold for the first time, such as initial public offerings (IPOs).

• Secondary markets are where existing securities are traded among investors, such as stock exchanges.

• Other types of capital markets include money markets, bond markets, and derivatives markets.

• Money markets deal with short-term debt securities and instruments.

• Bond markets involve the ...read more

Query to fetch second highest salary in SQL

• Use ORDER BY and LIMIT to select the second highest salary

• Assuming the table name is 'employees' and salary column name is 'salary':

• SELECT salary FROM employees ORDER BY salary DESC LIMIT 1,1

Resource allocation requires careful planning and consideration of various factors.

• Identify the goals and objectives of the project

• Assess the available resources and their capabilities

• Prioritize the tasks and allocate resources accordingly

• Consider the timeline and deadlines

• Monitor and adjust the allocation as needed

To convince a customer to purchase a product as a salesperson, I would focus on highlighting the benefits and addressing any concerns.

• Identify the customer's needs and tailor the pitch accordingly

• Highlight the unique features and benefits of the product

• Address any concerns or objections the customer may have

• Provide social proof or testimonials from satisfied customers

• Offer a limited-time promotion or discount to create urgency

Accounts payable and receivables are both financial transactions, but they differ in terms of direction and purpose.

• Accounts payable refers to the money a company owes to its suppliers or vendors for goods or services received.

• Accounts receivable refers to the money owed to a company by its customers or clients for goods or services provided.

• Accounts payable represents a liability for the company, while accounts receivable represents an asset.

• Accounts payable is recorded as a...read more

AI stands for Artificial Intelligence, Machine Learning is a subset of AI that focuses on training machines to learn from data. Bounding Box is a tool used in computer vision tasks to label objects in images or videos.

• AI is the simulation of human intelligence processes by machines, such as learning, reasoning, and self-correction.

• Machine Learning is a subset of AI that involves training algorithms to learn patterns from data and make predictions or decisions.

• Bounding Box is ...read more

Answering questions about capital gains, income tax heads, and financial statements.

• Capital gains can be short-term or long-term, with different tax rates applied to each.

• Income tax heads include salary, business/profession, capital gains, house property, and other sources.

• An example of long-term capital gain is selling a property after holding it for more than 2 years.

• An example of short-term capital gain is selling stocks after holding them for less than 1 year.

• Issue of sha...read more

STLC is a process of testing software from planning to deployment. It includes planning, designing, executing, and reporting.

• Planning phase involves defining scope, objectives, and test strategy.

• Design phase includes creating test cases, test scenarios, and test data.

• Execution phase involves running test cases, reporting defects, and retesting.

• Reporting phase includes preparing test summary reports and defect reports.

• STLC ensures that software meets quality standards and cust...read more

Yes, Heathrow airport should go ahead with adding a 5th terminal.

• Heathrow is one of the busiest airports in the world and needs to expand to accommodate increasing demand.

• A 5th terminal would provide more capacity for airlines and passengers, reducing congestion and improving the overall experience.

• The construction of the terminal would also create jobs and boost the local economy.

• However, careful planning and consideration must be given to environmental impact and sustainabi...read more