Credit Counselor Interview Questions and Answers

Yes, write-off and NPA accounts are related to bad debts in financial accounting.

• Write-off account is used to record bad debts that are deemed uncollectible and removed from the accounts receivable balance.

• NPA (Non-Performing Asset) account is used to record loans that are in default and have not been repaid for a certain period of time.

• Both accounts are important for financial reporting and analysis as they reflect the company's ability to manage credit risk and collect debt...read more

CIBIL report is a credit report that provides a summary of an individual's credit history and creditworthiness.

• CIBIL report stands for Credit Information Bureau (India) Limited report.

• It is a comprehensive record of an individual's credit activities, including loans, credit cards, and repayment history.

• The report includes a credit score, which is a numerical representation of the individual's creditworthiness.

• Lenders use CIBIL reports to assess the risk associated with lendin...read more