Finance Academy Year End Quizz

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| By Anastasia.Fomicheva
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Anastasia.Fomicheva
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Quizzes Created: 1 | Total Attempts: 102
Questions: 17 | Attempts: 102

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Finance Academy Year End Quizz - Quiz


Questions and Answers
  • 1. 

    What types of audit are in Unilever RUB (select 3 correct)?

    • A.

      FCA\SOX Audit

    • B.

      KPMG Audit

    • C.

      Forensic

    • D.

      Corporate Audit

    • E.

      Tax

    Correct Answer(s)
    A. FCA\SOX Audit
    B. KPMG Audit
    D. Corporate Audit
    Explanation
    The correct answer is FCA\SOX Audit, KPMG Audit, and Corporate Audit. These three types of audits are commonly conducted in Unilever RUB. FCA\SOX Audit refers to the audit conducted to ensure compliance with the Financial Conduct Authority (FCA) and the Sarbanes-Oxley Act (SOX). KPMG Audit refers to the audit conducted by the KPMG accounting firm to assess the financial statements and internal controls of the company. Corporate Audit refers to the internal audit conducted by the company's own internal audit department to evaluate and improve the effectiveness of risk management, control, and governance processes.

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  • 2. 

    BW provision is subtract from stock value

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The statement is stating that the BW provision is subtracted from the stock value. This means that when calculating the stock value, the provision for bad debts or any other BW (balance sheet write-off) provision is deducted from it. Therefore, the statement is true.

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  • 3. 

    What is practically needed to be calculated in the case of FG localization (you may choose several answers):

    • A.

      P&L effect on GM

    • B.

      Working capital effect

    • C.

      P&L effect on UOM

    • D.

      TTS drift

    • E.

      BMI budget freeze

    Correct Answer(s)
    A. P&L effect on GM
    B. Working capital effect
    Explanation
    In the case of FG localization, it is necessary to calculate the P&L effect on GM and the working capital effect. The P&L effect on GM refers to the impact on the gross margin of the company's profit and loss statement. This calculation helps determine the profitability of the localized FG. The working capital effect calculation is important to assess the impact on the company's current assets and liabilities, which can affect its liquidity and financial health.

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  • 4. 

    What can be a constraint in the case of localization on 3rd party manufacturing instead of import?

    • A.

      Increased lead time & increased DOH stock

    • B.

      Necessary to invest CAPEX

    • C.

      Forex exposure in Finished Good

    • D.

      Loss of export mark-up for UL Russia

    • E.

      Complex portfolio of SKUs on SU, from where we have imported

    Correct Answer
    B. Necessary to invest CAPEX
    Explanation
    When opting for localization on 3rd party manufacturing instead of import, one of the constraints is the necessity to invest CAPEX. This means that the company will have to allocate funds for capital expenditures in order to establish or enhance manufacturing capabilities with the third party. This investment is required to set up the necessary infrastructure, equipment, and facilities for production.

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  • 5. 

    What will be the VAT for books and class books?

    • A.

      18%

    • B.

      20%

    • C.

      10%

    Correct Answer
    C. 10%
    Explanation
    The VAT (Value Added Tax) for books and class books is 10%. This means that when purchasing books or class books, an additional 10% of the price will be added as tax.

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  • 6. 

    Please indicate the VAT, if the price with VAT is 1 567 rubles (without VAT change from 01.01.2019):

    • A.

      249.03

    • B.

      239.03

    • C.

      261.17

    • D.

      267.17

    Correct Answer
    B. 239.03
  • 7. 

    Which of  these costs are Overheads?

    • A.

      Monthly sales bonuses to CD Team

    • B.

      Overtime for employees in Food production line in Tula

    • C.

      Training for Marketing HC Team

    • D.

      Market Research costs

    • E.

      Samples for Testing for Quality department

    • F.

      Office Rent for Moscow Head Office

    Correct Answer(s)
    A. Monthly sales bonuses to CD Team
    C. Training for Marketing HC Team
    D. Market Research costs
    F. Office Rent for Moscow Head Office
    Explanation
    Overheads are the expenses that are not directly related to the production or sale of goods or services, but are necessary for the overall functioning of the business. In this case, monthly sales bonuses to the CD Team, training for the Marketing HC Team, market research costs, and office rent for the Moscow Head Office are all examples of overhead costs. These expenses are not directly tied to the production or sale of goods, but are necessary for the smooth operation of the business.

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  • 8. 

    You need to buy equipment for your current line for a new type of product. Indicate the type of project: 

    • A.

      Capacity

    • B.

      Innovations

    • C.

      SHE

    • D.

      Savings

    Correct Answer
    B. Innovations
    Explanation
    The correct answer is "Innovations" because buying equipment for a new type of product suggests that the project focuses on introducing new ideas, technologies, or processes to improve the current line and create innovative products. This type of project aims to bring about advancements and improvements in the company's product offerings.

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  • 9. 

    NPV - is the value of all future cash flows (positive and negative) over the entire life of an investment discounted to the present

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    NPV stands for Net Present Value, which is a financial metric used to determine the value of an investment by calculating the present value of all future cash flows associated with it. This includes both positive and negative cash flows. By discounting these cash flows to their present value, NPV helps investors assess the profitability and viability of an investment. Therefore, the statement "NPV is the value of all future cash flows (positive and negative) over the entire life of an investment discounted to the present" is true.

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  • 10. 

    Why external IFRS and controls audits are important (select 3 correct)?

    • A.

      To prevent and detect irregular transactions

    • B.

      To change people’s mindset

    • C.

      Ability to create reliable Financial Report for Internal and External purposes

    • D.

      To provide reassurance that all financial risks are properly mitigated by respective controls

    • E.

      To support of CoBP investigation

    • F.

      For updating processes documentation

    Correct Answer(s)
    A. To prevent and detect irregular transactions
    C. Ability to create reliable Financial Report for Internal and External purposes
    D. To provide reassurance that all financial risks are properly mitigated by respective controls
    Explanation
    External IFRS and controls audits are important for several reasons. Firstly, they help to prevent and detect irregular transactions, ensuring that any fraudulent or unethical activities are identified and addressed. Secondly, these audits enable the creation of reliable financial reports for both internal and external purposes, ensuring that accurate and transparent information is provided to stakeholders. Lastly, these audits provide reassurance that all financial risks are properly mitigated by the respective controls in place, giving confidence to investors and other stakeholders.

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  • 11. 

    Choose all examples of Point of Sales Investment (BMI):

    • A.

      Point of Sales Materials

    • B.

      IC cabinets

    • C.

      Merchandising

    • D.

      Promoter in Point of Sales

    • E.

      Promo gifts

    Correct Answer(s)
    B. IC cabinets
    C. Merchandising
    Explanation
    Point of Sales Investment (BMI) refers to investments made in various aspects of the point of sales process to enhance customer experience and drive sales. IC cabinets and merchandising are examples of such investments. IC cabinets are used to display and store electronic components, while merchandising involves visual presentation and arrangement of products in a way that attracts customers. These investments aim to create an appealing and organized shopping environment, thereby increasing the likelihood of customers making purchases.

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  • 12. 

    National promotion relate to

    • A.

      Trade Promo

    • B.

      Consumer Promo

    • C.

      Advertising Promo

    • D.

      Advertising Trade

    Correct Answer
    B. Consumer Promo
    Explanation
    Consumer promotion refers to marketing activities and strategies that are specifically targeted towards consumers to encourage them to purchase a product or service. This can include various tactics such as discounts, coupons, loyalty programs, contests, and giveaways. The goal of consumer promotion is to attract and retain customers, increase sales, and build brand loyalty. In this context, national promotion would refer to consumer promotion activities that are implemented on a national scale, targeting consumers across the entire country.

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  • 13. 

    ROI (Return on investment) is calculated by 

    • A.

      ITO/iGP

    • B.

      IPBI/Total Promo Investments

    • C.

      ITO/Total Promo Investments

    • D.

      Total Promo Investments\iPBI

    • E.

      IA&P/Total Promo Investments

    Correct Answer
    B. IPBI/Total Promo Investments
    Explanation
    The correct answer is iPBI/Total Promo Investments. ROI (Return on Investment) is a financial metric that measures the profitability of an investment. iPBI (Incremental Profit Before Interest) is the numerator in the ROI formula, representing the additional profit generated from the investment. Total Promo Investments is the denominator, representing the total amount invested in promotions. Therefore, dividing iPBI by Total Promo Investments gives us the ROI, indicating the return generated for each unit of investment in promotions.

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  • 14. 

    What does “Accounts receivable” mean?

    • A.

      Customers’ debts for goods and services that have been delivered or used during the period of time

    • B.

      Customers’ debts for goods and services that have been delivered or used but not yet paid for

    • C.

      Customers’ debts for goods or services that have not been delivered or used yet

    • D.

      Customers’ debts for goods and services that have been delivered or used and have been paid for on time

    Correct Answer
    B. Customers’ debts for goods and services that have been delivered or used but not yet paid for
    Explanation
    "Accounts receivable" refers to the debts that customers owe for goods and services that have already been delivered or used but have not been paid for yet. This means that the customers have received the products or services but have not yet made the payment.

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  • 15. 

    ________is the price which is paid for goods or services transferred from one unit of an organization to its other units situated in different countries

    Correct Answer
    Transfer pricing, transfer price
    Explanation
    Transfer pricing, also known as transfer price, refers to the price that is set for goods or services when they are transferred from one unit of an organization to another unit located in a different country. This practice is commonly used by multinational companies to determine the cost of transactions between their subsidiaries or divisions in different countries. Transfer pricing ensures that the transactions are conducted at fair market value and helps in allocating profits and costs among different units of the organization. It is a crucial aspect of international taxation and helps prevent tax avoidance and profit shifting.

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  • 16. 

    Calculate Cash FY 2018 if you know the following:  at the end of 2017:   Stock – 83 mE, Debtors – 92 mE Creditors – «-167 mE» Capex FY 2017 – «-28 mE» Depreciation FY 2017 – 28 mE UOP 2017 – 62 mE at the end of 2018 year:    Stock – 85 mE, Debtors – 100 mE Creditors – «-164 mE» Capex FY 2018 – «-19 mE» Depreciation FY 2018 – 32 mE UOP 2018 – 81 mE

    • A.

      82 mE

    • B.

      81 mE

    • C.

      90 mE

    • D.

      91 mE

    Correct Answer
    B. 81 mE
    Explanation
    Cash равен 81 mE (94-13=81) , так как WC (Stock+Debtors+Creditors) расчитывается как движение предыдущего периода к текущему – «-13» (8-21=-13) (WC 2017 - 83+92-167 = 8; WC 2018 – 85+100-164 = 21), Capex+Depreciation+UOP берутся накопительно за последний год – (32-19+81=94).

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