Contractor Associate Interview Questions and Answers

There are various types of lathe machines used in machining operations.

• Types of lathe machines include engine lathe, turret lathe, CNC lathe, and special purpose lathe.

• Engine lathe is the most common type used for general purpose turning operations.

• Turret lathe has a turret tool holder for quick tool changes.

• CNC lathe is controlled by a computer and is capable of complex operations.

• Special purpose lathe is designed for specific machining tasks.

• Other types include automatic la...read more

Selling involves persuading customers to purchase a product or service by highlighting its benefits and value.

• Understand the customer's needs and preferences

• Highlight the unique features and benefits of the product or service

• Build rapport and trust with the customer

• Overcome objections and address concerns

• Close the sale by asking for the customer's commitment

• Follow up with the customer to ensure satisfaction and encourage repeat business

Materiality is the concept of determining the significance or importance of information in relation to a decision or financial statement.

• Materiality helps in deciding what information should be included in financial statements

• It is based on the impact that the information could have on the decision-making process of users

• Materiality is subjective and can vary depending on the context and circumstances

• For example, a small error in financial statements may not be considered mat...read more

Different types of opinions include subjective, objective, expert, and lay opinions.

• Subjective opinions are based on personal feelings or beliefs.

• Objective opinions are based on facts and evidence.

• Expert opinions are given by professionals with specialized knowledge.

• Lay opinions are given by non-experts or the general public.

• Examples: A movie review can be a subjective opinion, a scientific study can provide an objective opinion, a doctor's diagnosis is an expert opinion, and...read more