GL&Legacy

GL&Legacy

Professional Development

20 Qs

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Assessment

Quiz

Social Studies

Professional Development

Practice Problem

Hard

Created by

Pawel Woda

Used 5+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Gains and losses on exchange transaction (at entities other than Global Capital) is recorded in the Profit and Loss Statement on which item?

Profit before tax
Expenses
Cost of Goods Sold

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is functional currency?

Foreign Currency in which entity did transaction
The currency of the primary economic environment in which the entity operates
Currency in which most transactions are settled

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is recharge process?

The recharge process moves expenses between cost centers within the same legal entity.
The recharge process moves expenses between cost centers within the same Region.
The recharge process assigns cost center expenses to the correct profit center within the same legal entity.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which mentioned items does meet the conditions for lease agreements?

Lease term +1 month and contract value greater than $5k
Lease term +12 month and contract value greater than $8k
Lease term +12 month and contract value greater than $15k

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What are examples of the assets leased commonly at 3M?

Material handling equipment, IT assets, Transportation assets
Assets under construction, vehicles, IT service agreements
Real estate, apartments for employees, contract manufacturing

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The supplying location takes the cost of the write off if the scrap is caused by the manufacturing process and the value of the scrap is greater than:

$500,000
$50,000
$5000

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who is responsible for providing necessary data and required supporting documentation for reconciling items?

All process streams
The Global Process Lead (GPL) and The Area Process Lead (APL)
Local Finance and Business Finance

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