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Personal Account Interview Questions & Answers - Learning Mode
COOLINTERVIEW.COM ACCOUNTS INTERVIEW QUESTIONS PERSONAL ACCOUNT INTERVIEW QUESTIONS QUESTIONS & ANSWERS - LEARNING MODE

Personal Account Interview Questions & Answers - Learning Mode

A Personal Account is an account for use by an individual for that person's own needs. It is a relative term to differentiate them from those accounts for corporate or business use. Banks worldwide offer personal banking products that typically include savings and transaction facilities such as a bank transaction account, debit cards/EFT, an interest bearing floating account (savings account) and a fixed interest deposit account for a specific agreed period (certificates of deposit / term deposit) which can vary according to the bank. In addition it also includes debt facilities such as loans, mortgages and credit cards.

Try Personal Account Interview Questions & Answers - Exam Mode

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Personal Account Interview Questions & Answers - Learning Mode
Try Personal Account Interview Questions & Answers - Exam Mode
Question: What is the difference between billable and non-billable expenses?

Answer: Billable expenses are the expenses incurred by you on behalf of your customer in performing duties / service and supply. These expenses are recoverable from your customer by way of billing.

Non-billable expenses are the expenses incurred by you for carry out your own business / duties and responsibilities.
Source: CoolInterview.com
Question: What do you understand by Open Item Managed Account?

Answer: Open item management ensures that all items that have not yet been cleared are available in the system. Only after every open item in a document is cleared can a document be archived. Source: CoolInterview.com
Question: What is the meaning of invoice?

Answer: Invoice is a statement which contains the under mentioned details compulsorily.

1. Invoice Number

2. Invoice date

3. Name and address of the person

Name and address of the person to whom invoice is made. ( Buyer of goods and service)

5. Description of goods / services involved

6. Applicable rates and taxes with percentages

7. Rate of the goods / services

Quantity of the goods and services

9. Quality or any other specifications

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Question: What is the difference between SAP MEMORY and ABAP MEMORY?

Answer: SAP Memory: Global, user-related memory that extends beyond transaction limits. Access to the SAP memory is via SPA/GPA parameters.

ABAP Memory: Memory area within each main session, which can be accessed by programs using the EXPORT and IMPORT statements and which remains available using a series of program calls (call sequence).
Source: CoolInterview.com
Question: What is Personal Account?

Answer: Personal Account is an account for use by an individual for their own needs. It is a relative term to differentiate the said accounts from those accounts for corporate or business use. Source: CoolInterview.com
Question: What do you understand by Intercompany Settlement?

Answer: A key functional area of SAP for Utilities that supports cross-company exchange of settlement data based on international standards such as EDI, XML, and Microsoft Excel.

Intercompany data exchange manages data transfer between retailers, distributors, and independent service operators with special regard to the requirements in deregulated markets. Source: CoolInterview.com
Question: What procedure for excess payment to supplier I would like know without adjusting invoice that means how supplier will send back excess amount how do in oracle apps?


Answer: Excess payment to supplier is treated as Advance paid to supplier. This will show as debit balance in supplier account.

Supplier can send the payment by way of cheque / demand draft without adjusting in his subsequent bills. Source: CoolInterview.com
Question: What is FBT (Fringe Benefit Tax)?

Answer: The tax payable on a non-salary benefit provided to an employee or an associate of the employee. The employer is liable to pay any FBT and may choose to recover the FBT amount from the employee.
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Question: How does the payment mechanism work?

Answer: The open items of an account can only be cleared once you post an identical offsetting amount to the account. In other words, the balance of the items assigned to each other must equal zero. During clearing, the system enters a clearing document number and the clearing date in these items. In this way, invoices in a vendor account are indicated as paid, and items in a bank clearing account are indicated as cleared.

You generally use the payment program to clear invoices. Manual clearing o Source: CoolInterview.com
Question: What is the difference between Consignor and Consignee?

Answer: Consignor is the person who is the owner of the goods and who deliver the goods to the consignee.

Consignee is the person who receives the goods and he just possesses the goods and not the owner. Source: CoolInterview.com
Question: What steps would you take before approving an invoice for payment?

Answer: Following steps should be taken..

► Validate the invoice once it is matched for checking any holds..

► If workflow is implemented , initiate approval for the invoice. Once the invoice is approved/Approval not required(status in case WF is not implemented) you can go for payments.

► Create accounting after approval of invoice..

Finally for payments u need to format, build. Source: CoolInterview.com
Question: How is a PO (Purchase order created)?

Answer: A document or form used by a customer to issue an order for goods or services.

I want notes on
1.Procure to pay cycle with accounting entries
2.order to cash
3.record to report
4.Sox Source: CoolInterview.com

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Latest 20 Questions
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
A advertises to sell his old car by advertising in a newspaper. This offer is caleed: (a) General Offer (b) Special Offer (c) Continuing Offer (d) None of the above
In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
In case of unenforceable contract having some technical defect, parties (a) Can sue upon it (b) Cannot sue upon it (c) Should consider it to be illegal (d) None of the above
If entire specified goods is perished before entering into contract of sale, the contract is (a) Valid (b) Void (c) Voidable (d) Cancelled
______________ contracts are also caled contracts with executed consideration. (a) Unilateral (b) Completed (c) Bilateral (d) Executory
A offers B to supply books @ Rs 100 each but B accepts the same with condition of 10% discount. This is a case of (a) Counter Offer (b) Cross Offer (c) Specific Offer (d) General Offer
_____________ is a game of chance. (a) Conditional Contract (b) Contingent Contract (c) Wagering Contract (d) Quasi Contract
There is no binding contract in case of _______ as one's offer cannot be constructed as acceptance (a) Cross Offer (b) Standing Offer (c) Counter Offer (d) Special Offer
An offer is made with an intention to have negotiation from other party. This type of offer is: (a) Invitation to offer (b) Valid offer (c) Voidable (d) None of the above
When an offer is made to the world at large, it is ____________ offer. (a) Counter (b) Special (c) General (d) None of the above
Implied contract even if not in writing or express words is perfectly _______________ if all the conditions are satisfied:- (a) Void (b) Voidable (c) Valid (d) Illegal
A specific offer can be accepted by ___________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree
An agreement toput a fire on a person's car is a ______: (a) Legal (b) Voidable (c) Valid (d) Illegal
"Holiday Packages" announced as an advertisement are an example of _________: (a) Offer (b) Counter Offer (c) Invitation to Offer (d) None of the above
A match fixing contract between a player and a broker is a: (a) Valid Contract (b) Unenforceable Contract (c) Void Contract (d) Illegal Contract
When a bookseller sells a book on cash payment then it is called as ___________: (a) Unilateral Contract (b) Bilateral Contract (c) Executed Contract (d) Executory Contract
____________ agreements are created by situation: (a) Written (b) Oral (c) Void (d) Implied
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