1000+ Associate Interview Questions and Answers

Contracts are legally binding agreements between two or more parties.

• Contracts are formed when there is an offer, acceptance, consideration, and intention to create legal relations.

• Essential elements of a contract include offer, acceptance, consideration, intention to create legal relations, capacity, and legality of purpose.

• Example: A contract for the sale of goods where one party offers to sell a product, the other party accepts the offer, consideration is exchanged, and bo...read more

Analytical review, audit assertions, and audit planning are all important components of the audit process.

• Analytical review involves analyzing financial data to identify trends, anomalies, and potential risks.

• Audit assertions are statements made by management regarding the accuracy and completeness of financial information.

• Audit planning involves developing a strategy for conducting an audit, including identifying risks and determining the scope of the audit.

• Other important c...read more

Custom directives are a way to extend HTML with new attributes and functionality.

• Types of custom directives are attribute, element, and class directives.

• Attribute directives modify the behavior of existing HTML elements.

• Element directives create new HTML elements.

• Class directives modify the behavior of existing HTML elements based on their class.

• To create a custom directive, use the directive() method of the AngularJS module.

• Example: creating a custom attribute directive to c...read more

The 40% increase in sales for Colgate could be due to a merger with another company, resulting in access to new customers.

• Mergers can lead to an increase in market share and customer base.

• Access to new distribution channels and markets can boost sales.

• Synergies from combining resources and expertise can drive growth.

• Increased brand recognition and loyalty from customers of the merged company can contribute to higher sales.

The profit considered for giving a loan to a company includes net profit, operating profit, and EBITDA.

• Net profit: Indicates the overall profitability of the company after all expenses are deducted from revenue.

• Operating profit: Shows the profit from the core business operations before interest and taxes.

• EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): Reflects the company's operating performance without accounting for capital structure or tax environ...read more

State management in client and server side

• Client-side state management: cookies, local storage, session storage, and query parameters

• Server-side state management: session state and application state

• Cookies are small text files stored on the client's computer

• Local storage and session storage are HTML5 web storage APIs

• Session state is stored on the server and associated with a user's session

• Application state is stored on the server and shared across all users

The 2008 financial crisis was caused by a combination of factors including subprime mortgages, risky investments, and lack of regulation.

• Subprime mortgages were given to borrowers who were not creditworthy and could not afford to repay the loans.

• These mortgages were then bundled together and sold as securities to investors, who were not aware of the high risk involved.

• Investment banks also made risky investments and used excessive leverage, which led to their collapse.

• The lac...read more

Accounting profit and tax profit are not the same. The key difference lies in the treatment of certain expenses and income.

• Accounting profit is based on the principles of accounting and includes all revenues and expenses recorded in financial statements.

• Tax profit is used for calculating taxes owed to the government and may have adjustments for tax purposes, such as depreciation and interest expenses.

• Key differences include treatment of depreciation, interest expenses, and ot...read more

Increasing customer base by 1% is preferable as it leads to long-term growth and sustainability.

• Increasing customer base leads to more sales in the long run

• Higher customer base means more word-of-mouth referrals

• Increasing selling price may lead to short-term profit but can drive away customers

• Customer retention is important for sustained growth

I learnt technologies like Java, C++, HTML, CSS, and SQL during my college days.

• Java

• C++

• HTML

• CSS

• SQL

Derivatives are financial contracts that derive their value from an underlying asset or security.

• Types of derivatives include futures, options, swaps, and forwards.

• Futures are contracts to buy or sell an asset at a predetermined price and date.

• Options give the holder the right, but not the obligation, to buy or sell an asset at a predetermined price and date.

• Swaps involve exchanging cash flows based on different financial instruments.

• Forwards are similar to futures, but are c...read more

Nutraceutical field offers opportunities for nutrition professionals to apply their expertise in developing functional foods and supplements.

• Nutrition professionals can leverage their knowledge of nutrients and their effects on the body to develop innovative nutraceutical products.

• Understanding of dietary guidelines and nutritional requirements can help in formulating products that meet consumer needs.

• Experience in assessing dietary intake and providing personalized nutrition...read more

My typing speed is 80 words per minute during typing tests.

• My typing speed is 80 words per minute.

• I have consistently maintained this speed during typing tests.

• I have practiced regularly to improve my typing speed.

Hedge funds are private investment funds that use aggressive strategies to generate high returns. Mutual funds are professionally managed investment portfolios that pool money from many investors.

• Hedge funds are typically only available to accredited investors and have fewer regulations than mutual funds.

• Hedge funds often use leverage and derivatives to amplify returns, but also increase risk.

• Mutual funds are more accessible to retail investors and offer a diversified portfol...read more

Important things to check while processing invoices include accuracy, proper documentation, approval, and matching with purchase orders.

• Verify accuracy of invoice details such as amounts, dates, and vendor information

• Ensure proper documentation is attached, such as receipts or purchase orders

• Confirm approval from authorized personnel before processing payment

• Match the invoice with corresponding purchase orders to prevent errors or discrepancies

Wipro is an Indian multinational corporation that provides information technology, consulting and business process services.

• Founded in 1945 by M.H. Hasham Premji

• Headquartered in Bangalore, India

• Employs over 190,000 people worldwide

• Offers services in industries such as healthcare, banking, and retail

• Has partnerships with companies such as Microsoft and SAP

Exempted lease refers to a lease that is not required to be recognized on the balance sheet as per Ind AS 116.

• Exempted leases include leases with a lease term of 12 months or less and leases of low-value assets.

• Leases of intangible assets and leases of biological assets are also exempted.

• Leases where the underlying asset is of low value when new, such as personal computers or small items of office furniture, are also exempted.

• Exempted leases do not require the lessee to recog...read more

The process of accounts receivables involves managing and tracking the money owed to a company by its customers.

• Accounts receivables refer to the outstanding payments that a company is yet to receive from its customers.

• The process starts with generating and sending invoices to customers for the goods or services provided.

• Once the invoices are sent, the company tracks the payments and follows up with customers for any overdue amounts.

• The company may also perform credit checks ...read more

Expenses incurred by the Assessee are checked in Tax Audits to ensure compliance with tax laws.

• To ensure that the expenses claimed by the Assessee are genuine and not inflated to reduce tax liability.

• To verify that the expenses are incurred for business purposes and not personal expenses.

• To check if the expenses are allowed as per the tax laws and regulations.

• To detect any tax evasion or fraud by the Assessee.

• For example, if an Assessee claims a deduction for a business trip,...read more

State management techniques are required to manage the state of an application and ensure data consistency.

• State management helps in maintaining the state of an application and ensures that data is consistent across different components.

• It helps in managing complex applications with multiple components and data sources.

• State management techniques like Redux, MobX, and Context API provide a centralized store for managing application state.

• They also provide tools for debugging ...read more

Termination clause defines conditions under which a contract can be ended. Types include for cause, without cause, and automatic termination.

• Termination clause outlines the circumstances under which a contract can be terminated

• Types of termination include for cause, without cause, and automatic termination

• For cause termination occurs when one party breaches the contract

• Without cause termination allows either party to end the contract without a specific reason

• Automatic termina...read more

To cross verify 0.1 normality H2SO4, use a standard solution of NaOH and an indicator.

• Prepare a standard solution of NaOH of known concentration.

• Add a few drops of an indicator such as phenolphthalein to the H2SO4 solution.

• Titrate the H2SO4 solution with the NaOH solution until the endpoint is reached.

• The endpoint is when the indicator changes color, indicating that all the H2SO4 has reacted with the NaOH.

• Calculate the normality of the H2SO4 solution using the formula: Normal...read more

I have certifications in project management and data analysis.

• Certified Project Management Professional (PMP)

• Certified Data Analyst (CDA)

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

Derivatives are financial contracts that derive their value from an underlying asset. Types include futures, options, swaps, and forwards.

• Derivatives are contracts between two parties that derive their value from an underlying asset.

• Futures are contracts to buy or sell an asset at a predetermined price and date.

• Options give the buyer the right, but not the obligation, to buy or sell an asset at a predetermined price and date.

• Swaps involve exchanging cash flows based on differ...read more

Temporal dead zone is a behavior in JavaScript where a variable cannot be accessed before it is declared.

• Variables declared with let and const are hoisted but cannot be accessed before their declaration.

• This behavior helps in avoiding errors due to accessing variables before they are initialized.

• Example: console.log(x); // ReferenceError: x is not defined let x = 10;

• Temporal dead zone only applies to block-scoped variables declared with let and const.

The options available if TDS is not deposited on time include paying interest, facing penalties, and potential legal action.

• Pay interest on the late deposit

• Face penalties for delayed payment

• Risk potential legal action for non-compliance

The pecuniary jurisdiction under the Consumer Protection Act, 2019 is determined based on the value of goods or services and compensation claimed.

• The District Commission has jurisdiction for claims up to Rs. 1 crore.

• The State Commission has jurisdiction for claims between Rs. 1 crore and Rs. 10 crores.

• The National Commission has jurisdiction for claims exceeding Rs. 10 crores.

• The value of goods or services and compensation claimed determines the appropriate forum for filing a...read more

The process for review under the Consumer Protection Act, 2019 involves filing a complaint, preliminary scrutiny, hearing, and decision by the Consumer Disputes Redressal Commission.

• File a complaint with the appropriate Consumer Disputes Redressal Commission.

• The Commission conducts a preliminary scrutiny of the complaint to determine its validity.

• If the complaint is found valid, a hearing is scheduled where both parties present their arguments and evidence.

• Based on the eviden...read more

Earthquakes occur due to the movement of tectonic plates. Metamorphosis is the process of transformation in living organisms.

• Earthquakes occur when two tectonic plates move against each other, causing a release of energy in the form of seismic waves.

• Metamorphosis is a process of transformation in living organisms, where an organism undergoes a physical change in form and structure.

• Examples of metamorphosis include the transformation of a caterpillar into a butterfly and the t...read more

MedDRA is a medical terminology used for coding and classifying adverse events and medical conditions.

• MedDRA stands for Medical Dictionary for Regulatory Activities.

• It is a standardized dictionary used in the pharmaceutical industry.

• MedDRA allows for consistent reporting and analysis of adverse events in clinical trials and post-marketing surveillance.

• It includes a hierarchy of terms, with each term assigned a unique code.

• Example: MedDRA code 10000123 represents 'headache'.

NAV stands for Net Asset Value. It is the value of a mutual fund's assets minus its liabilities.

• NAV is calculated by dividing the total value of a mutual fund's assets by the number of outstanding shares.

• NAV is calculated at the end of each trading day.

• NAV is used to determine the price at which investors can buy or sell shares in a mutual fund.

• NAV can be affected by changes in the value of the underlying assets, as well as by fees and expenses.

• For example, if a mutual fund h...read more

You get #REF error in Excel when a cell reference is not valid, and you get #VALUE error when a formula includes the wrong type of argument or operand.

• You get #REF error when a formula refers to a cell that is not valid, such as a deleted cell or a cell in a different sheet.

• You get #VALUE error when a formula includes the wrong type of argument, such as text instead of a number, or when an operand is not valid for the function being used.

• For example, if you try to multiply te...read more

Yes, I have knowledge of both Oracle and SAP.

• I have experience working with Oracle databases and SAP ERP systems.

• I am familiar with Oracle's SQL and PL/SQL languages.

• I have used SAP modules such as SAP FI/CO and SAP MM.

• I have completed training courses on Oracle and SAP.

• I have successfully implemented Oracle and SAP solutions in previous projects.

To prepare 0.1 N H2SO4 & NaOH, calculate the required amount of solute and dissolve it in distilled water.

• Calculate the molar mass of H2SO4 and NaOH

• Determine the required amount of solute using the formula: N = (W/M) x (1000/V)

• Dissolve the calculated amount of solute in distilled water to make 1 liter of solution

• Standardize the solution using a primary standard

• Use a burette to measure the volume of solution needed for experiments

To solve a runtime error where Selenium is not able to create an instance of WebDriver, check for correct WebDriver setup and dependencies.

• Ensure that the correct WebDriver executable path is set in the system PATH variable

• Check if the WebDriver executable is compatible with the browser version being used

• Verify that all necessary dependencies for the WebDriver are installed

• Consider updating the WebDriver and browser to the latest versions

• Check for any conflicting browser exte...read more

Both data quality and timeliness are important, but it depends on the specific use case.

• Data quality is crucial for decision-making and analysis, as inaccurate data can lead to incorrect conclusions.

• Timeliness is important for real-time decision-making and time-sensitive operations.

• In some cases, data quality may be more important, such as in medical research where accuracy is critical.

• In other cases, timeliness may be more important, such as in financial trading where split-...read more

Shorting securities involves borrowing and selling securities in the hopes of buying them back at a lower price.

• Shorting is a bet that the price of a security will decrease.

• Shorting involves borrowing securities from a broker and selling them on the market.

• If the price of the security decreases, the short seller can buy it back at a lower price and return it to the broker, making a profit.

• If the price of the security increases, the short seller will have to buy it back at a h...read more

Journal entry is a record of financial transactions in a company's accounting system.

• Journal entry is used to record transactions in the general ledger.

• It includes the date, accounts affected, and the amount of the transaction.

• Examples include recording a sale, paying a bill, or adjusting an account balance.

• Journal entries are used to create financial statements and track the financial health of a company.

Women empowerment refers to the process of providing women with the power and resources to make their own decisions and control their own lives.

• It involves promoting gender equality and eliminating discrimination against women

• It includes providing access to education, healthcare, and economic opportunities

• It also involves empowering women to participate in decision-making processes and leadership roles

• Examples include initiatives to increase women's representation in politics...read more

Equity funding refers to the process of raising capital by selling shares of ownership in a company.

• Equity funding is a common method for startups and growing companies to raise funds.

• Investors purchase shares of the company in exchange for capital.

• Equity funding allows companies to access external capital without incurring debt.

• It provides investors with an ownership stake in the company and potential returns on their investment.

• Examples of equity funding include venture cap...read more

Widgets are the building blocks of a Flutter app. Stateless widgets are immutable while stateful widgets can change their state.

• Widgets are the UI components in Flutter that can be combined to create an app.

• Stateless widgets are used when the UI doesn't change based on user interaction.

• Stateful widgets are used when the UI changes based on user interaction.

• Obx is a widget in the GetX package that automatically updates the UI when the observable it depends on changes.

• MVC stand...read more

The golden rule of accounting is to debit the receiver and credit the giver. The journal entry for goods purchase involves debiting the purchases account and crediting the accounts payable or cash account.

• Golden rule of accounting: Debit the receiver, credit the giver

• Journal entry for goods purchase: Debit purchases account, credit accounts payable or cash account

• Example: Purchasing inventory on credit - Debit purchases account, credit accounts payable

Transactional can be used in microservices to ensure data consistency and integrity.

• Transactional mechanisms can be used to ensure that all microservices involved in a transaction either commit or rollback together.

• Transactional boundaries can be defined to ensure that all data changes within a transaction are atomic and consistent.

• Transactional messaging can be used to ensure that messages are delivered exactly once and in the correct order.

• Examples of transactional systems ...read more

Swaptions are options on interest rate swaps. Option pricing involves calculating the expected future value of the underlying asset.

• Swaptions give the holder the right to enter into an interest rate swap at a future date.

• Pricing involves calculating the expected future value of the underlying asset using models such as Black-Scholes or binomial trees.

• Factors that affect option pricing include the underlying asset price, strike price, time to expiration, volatility, and intere...read more

I would approach handling a complex situation by breaking it down into smaller tasks, seeking input from others, and staying calm under pressure.

• Break down the situation into smaller, manageable tasks

• Seek input and advice from colleagues or experts

• Stay calm and focused under pressure

• Develop a plan of action and prioritize tasks accordingly

I have extensive experience in customer service, including handling inquiries, resolving issues, and ensuring customer satisfaction.

• I have worked in customer-facing roles for several years, honing my communication and problem-solving skills.

• I am familiar with various customer service techniques, such as active listening, empathy, and conflict resolution.

• I have received positive feedback from customers for my ability to address their needs effectively and efficiently.