Quiz P&A

Quiz P&A

Professional Development

20 Qs

quiz-placeholder

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Quiz P&A

Quiz P&A

Assessment

Quiz

Social Studies

Professional Development

Hard

Created by

Pawel Woda

Used 2+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of Property Plant and Equipment (PP&E) should not be depreciated?
Land
Buildings
Goodwill

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The useful life of an asset which has been placed into service may be lengthened in certain circumstances, but must not be shortened.
True
False

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

On which account the costs are accumulated before an asset is placed in service when it is in a condition or state of readiness and is available for its intended use?
Customer- Related account
Construction in Progress (CIP) account.
Leasehold improvements

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Engineering costs may be capitalized if:
The costs are directly identifiable with a specific asset/project which meets the capitalization criteria for Property, Plant and Equipment PP&E.
The acquisition of the asset is not probable.
The capitalization criteria for Property, Plant and Equipment PP&E is not met

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The engineering hours reported against each project in the time reporting system are valued at ?
Insurance rates
Burden rates
Work in progress rate

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

During which stage engineering costs relating to fixed assets may be incurred:
Pre-acquisition
Construction
All of the above

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How often a fixed asset record review must be done for all 3M leased and owned assets.  This includes all tagged, untagged, and taggable assets?
once every 4 year
Annually
once a month

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