Interview Questions

Liabilities are what all u owe from the bank on notes payable or in other words it is:

Liability=Asset-Owners equity

what company owes that is liability. liability = Asset-capital

A bad debt provision is a reserve that you build up over time against the future recognition of specific accounts receivable as being uncollectible. Thus, if a company has issued invoices for a total of $1 million to its customers in a given month, and has a historical experience of 5% bad debts on its billings, it would be justified in creating a bad debt provision for $50,000 (which is 5% of $1 million).

It is impossible to know the exact amount of bad debts that will occur at some point in the future from the current account receivable, so it is entirely normal to continually readjust the bad debt provision, as you gain a greater understanding of how collectible the accounts receivable really are. These adjustments may lead to future increases or decreases in the bad debt expense. Since these adjustments can be viewed as a means of manipulating a company's reported profits, you should fully document your reasons for making the adjustments.

You would create a bad debt provision with a debit to the bad debt expense account, and a credit to the bad debt provision account. The bad debt provision account is an accounts receivable contra account, which means that it contains a balance that is the reverse of the normal debit balance found in the associated accounts receivable account. Later, when a specific invoice is found to be uncollectible, you create a credit memo in the accounting software for the amount of the invoice that is uncollectible. The credit memo reduces the bad debt provision account with a debit, and reduces the accounts receivable account with a credit. Thus, the initial creation of the bad debt provision creates an expense, while the later reduction of the bad debt provision against the accounts receivable balance is merely a reduction in offsetting accounts on the balance sheet, with no further impact on the income statement.

The reason for a bad debt provision is that, under the matching principle, you should match revenues with related expenses in the same accounting period. Doing so shows the full effect of a billed sale transaction in a single accounting period. If you were to not use a bad debt provision, and instead used the direct write off method to only charge bad debts to expense when you were certain that a specific invoice was not collectible, then the charge to expense might be many months later than the initial revenue recognition associated with the billing. Thus, under the direct write off method, profits will be too high in the period of the billing to the customer, and too low in the later period when you finally charge some portion or all of an invoice to the bad debt expense.

In general, Services are Javscript functions and are responsible to do a specific tasks. Factories implements module pattern in which we use a factory method to generate an object which is use for building models.

It's syntax is
module.factory('factoryName', function);

Ribbon is the term used as a replacement to the menu bar and toolbars in the older Microsoft Office versions. Under the ribbon, file menu items and toolbar buttons were grouped according to their functionality. It made these functions much accessible on the main interface, with the most commonly used buttons being shown instantly.

In economic terms, inflation is the rise in the prices of goods and services in the given economy over a period of time. As the prices rise, each unit of the country's currency will buy fewer goods and services.

when the purchasing power of a currency go down then more money comes to the market it is called inflation.

- UDAI places the data in the source systems.

- A set of views are defined for providing access the unified view to the clients / customers.

- Zero latency of data can be propagated from the source system.

- The generated consolidated data need not require separate storage space.

- Data history and version management is limited and applied only to the similar type of data.

- Accessing to the user data overloads on the source systems.

It is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of the other salespeople that they recruit. This recruited sales force is reffered to as the participant's 'downline' , and can provide multiple levels of compensation. Other terms used for MLM include pyramid selling, network marketing and refferal marketing. Most commonly, the salespeople are expected to sell products directly to consumers by means of relationship referrals and word-of-mouth marketing.

All the features of C are similiar to C++ except some features, such as polymorphism, operator overloading which are supported in C++ but not in C language.

Both C and C++ language is similiar in their functionality but C++ provides with more tools and options.