Accounts Executive

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“Accounts Executive Frequently Asked Questions by expert members with experience in Accounts Executive. These questions and answers will help you strengthen your technical skills, prepare for the new job test and quickly revise the concepts”



51 Accounts Executive Questions And Answers

1⟩ Described about team work and communication skills in the context of account management?

As an account manager, you work on two fronts: the clients and your company. Both require excellent communication skills. You need to earn the trust of both clients and managers, to convince both sides to close the best possible deal. Teamwork is probably more related to coordinating actions with the company, the development, sales, and marketing departments

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2⟩ What are most important qualities of an account executive?

This question tests your confidence, self awareness, and independence. Do not be afraid to speak your mind confidently. The ability to work independently and make decisions is crucial if you are an account manager. This in turn requires being organized and self motivated, with the ability to work with many customers at once. This means outstanding customer service skills.

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3⟩ Which makes account Executive successful?

Speak confidently when answering questions where success is the subject. You do not have to gush and describe every possible aspect you can think of. Talk about a few key concepts, like communication and negotiation skills, market research and customer prospecting, etc. You will make an even better impression if you give an example from your own professional life to demonstrate your idea.

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4⟩ What is important for effective market analysis?

Generally speaking, it is important to do research on a regular basis in relation to every individual client or category of clients. Effective research assesses current situations to project future developments and opportunities for the company. It studies competitors and proposes improvements.

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5⟩ What duties are performed by account executive?

An account officer supervises account activities of a business. A hiring organization may look for a person who can demonstrate her confidence in the position with relevant experience in the position and the ability to make quick decisions. Her experience should bring strong communication skills to work with her team to effectively to meet deadlines and achieve the company's targets.

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6⟩ Which was the tough decision you had to make quickly?

An employer may seek an account manager with the ability to make decisions in a fraction of a section. If the interviewer asks a candidate a question about making quick decisions, the candidate should be able to provide an incident, the choices she had and the reasons for the decision she made. Her incident may involve a new credit policy, lowering a price for volume dealers, or other incidents with long-term effects on a business. The candidate could end the response with her decision and the outcome.

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7⟩ Which work environment do you prefer more?

In addition to accounting activities, an account manager holds a management position that involves company relations to interact effectively with staff. With a question related to a preferred work environment, an interviewer is probing the candidate's leadership abilities and interpersonal skills. A candidate who chooses an environment in which he can interact to offer support and feedback, may be preferred to a candidate who prefers to sit behind a desk.

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10⟩ Suppose if you work here for the five years and don't get promoted? Many of our employees don't. Won't you find it frustrating?

I consider myself ambitious, but I'm also practical. As long as I am continuing to learn and grow within my position, I'll be a happy camper. Different companies promote people at different rates, and I'm pretty confident that working for you will keep my motivated and mentally stimulated for several years to come.

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12⟩ Described cost of goods sold?

These costs are reported as operating expenses on the income statement because of the matching principle. The revenues from the sale of merchandise must be matched with the cost of the merchandise that is sold.

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14⟩ Explain premium on bonds payable?

Premium on bonds payable (or bond premium) occurs when bonds payable are issued for an amount greater than their face or maturity amount. This is caused by the bonds having a stated interest rate that is higher than the market interest rate for similar bonds.

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15⟩ Define ordinary annuity?

In accounting, an ordinary annuity refers to a series of identical cash amounts with each amount occurring at the end of equal time intervals.

An ordinary annuity is also known as an annuity in arrears.

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16⟩ You were fired twice. How did that make you feel?

After I recuperated from the shock both times, it made me feel stronger. It's true that I was fired twice, but I managed to bounce back both times and land jobs that gave me more responsibility, paid me more money, and were at better firms.

The morale here is very high. I've been exposed to the "seamy underbelly" of this business, but I'm still passionate about working in it.

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17⟩ You majored in philosophy. How did that prepare you for this career?

Philosophy didn't prepare me for a career in accounting at all. But it did force me to become philosophical about my prospects. After two years of trying to figure out what to do with my life, I visited Chicago one weekend, and was absolutely spell bound by the gorgeous architecture all around me.

I came home, applied to architecture schools all over the country, and was accepted by one of the best. I've never looked back. This is definitely the career that I was meant to be in.

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18⟩ Explain balance sheet accounts?

Balance sheet accounts are one of two types of general ledger accounts. Income statement accounts make up the other type. Balance sheet accounts are used to sort and store transactions involving assets, liabilities, and owner's or stockholders' equity. Examples of a corporation's balance sheet accounts include Cash, Accounts Receivable, Investments, Buildings, Equipment, Accumulated Depreciation, Notes Payable, Accounts Payable, Payroll Taxes Payable, Paid-in Capital, Retained Earnings, etc.

Balance sheet accounts are described as permanent or real accounts because at the end of the accounting year the balances in these accounts are not closed. Instead, the end-of-the-accounting-year balances will be carried forward to become the beginning balances in the next accounting year. This is different from the income statement accounts, which begin each accounting year with zero balances.

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19⟩ Explain the difference between revenues and receipts?

A company's revenues are amounts it has earned as the result of business activities such as selling merchandise or performing services. Under the accrual method of accounting, revenues are reported on the income statement in the period in which they are earned even when a dependable customer is allowed to pay 60 days later. In this example, when the revenues are earned the company will credit a revenues account and will debit the asset account Accounts Receivable.

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20⟩ Explain liability account?

A liability account is a general ledger account in which a company records its debt, obligations, customer deposits and customer prepayments, certain deferred income taxes, etc. that are the result of a past transaction. Common liability accounts under the accrual method of accounting include Accounts Payable, Accrued Liabilities (amounts owed but not yet recorded in Accounts Payable), Notes Payable, Unearned Revenues, Deferred Income Taxes (certain temporary timing differences), etc.

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