Which mentioned items had to meet the conditions in scope for lease agreements?
3M's GFS

Quiz
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Other
•
1st Grade
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Medium

Mateusz Wnuk
Used 16+ times
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30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If a customer bankrupted, recovering of receivables should be analyzed by?
Outside law company
Credit Risk Management and legal teams of the country
Big four company
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Any differences over $100,000 of reconciliation between BPC and ERP/Legacy must be explained and resolved by?
3 months
By the following month
2 weeks
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the definition of embedded lease under ASC 842?
Arrangement contained that vendor would sell assets used in traction on a specified date after end of contract date
A contract with a vendor that uses an asset as part of the provided item and the use of that asset meets the definition of a lease
Contract concerned assets purchased partially from vendor but still in use in process of contact by lessee
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Unreconciled items (balances) of $50,001 - $1M, must be cleared and supported within?
1 month after closure
2 months after closure
3 months after closure
6.
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)
The Area Process Lead (APL)
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
General part of payments from customers must be applied to the correct customer account usually within?
2 days
7 days
14 days
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