Luxor Writing Instruments Interview Questions and Answers

Ensuring consistent color reproduction globally involves standardization, calibration, and using reliable color profiles.

• Use standardized color spaces like sRGB or Adobe RGB to maintain consistency across devices.

• Calibrate monitors and printers regularly to ensure accurate color representation.

• Employ color management systems (CMS) to maintain color fidelity from design to print.

• Utilize Pantone color matching for p...read more

RGB is for digital screens, while CMYK is for print. Each uses different color mixing methods suited to their mediums.

• RGB stands for Red, Green, Blue; used for digital displays like monitors and TVs.

• CMYK stands for Cyan, Magenta, Yellow, Key (Black); used for color printing.

• RGB colors are created by combining light, while CMYK colors are created by mixing inks.

• An example of RGB usage is designing a website, while ...read more

Accounts payable affects cash flow, liabilities, and overall financial health, impacting balance sheets and income statements.

• Accounts payable is recorded as a liability on the balance sheet, reflecting amounts owed to suppliers.

• An increase in accounts payable can improve cash flow in the short term, allowing for more liquidity.

• Accounts payable impacts the income statement indirectly; timely payments can lead to d...read more

Capital expenditure is for long-term assets, while revenue expenditure is for day-to-day operational costs.

• Capital Expenditure (CapEx) involves purchasing or upgrading physical assets like buildings or machinery.

• Revenue Expenditure (RevEx) covers operational costs such as rent, utilities, and salaries.

• Example of CapEx: Buying a new delivery truck for the business.

• Example of RevEx: Paying monthly electricity bills ...read more

I manage asset disposal by ensuring compliance, maximizing value, and maintaining accurate records throughout the process.

• Conduct a thorough assessment of the asset's condition and value before disposal.

• Ensure compliance with legal and environmental regulations, such as hazardous waste disposal.

• Develop a disposal strategy that may include resale, recycling, or donation, depending on the asset's condition.

• Example: ...read more

Reconciling the asset register with the general ledger ensures accurate financial reporting and asset management.

• 1. Review the asset register for all recorded assets and their values.

• 2. Compare the total asset values in the asset register with the general ledger.

• 3. Identify discrepancies, such as missing assets or incorrect valuations.

• 4. Investigate discrepancies by checking supporting documents like invoices and ...read more

A bad debt write-off journal entry removes uncollectible accounts from financial records.

• Debit Bad Debt Expense to recognize the loss.

• Credit Accounts Receivable to reduce the asset.

• Example: If $1,000 is deemed uncollectible, the entry is: Debit Bad Debt Expense $1,000, Credit Accounts Receivable $1,000.