Quiz On Auto Cip Scripts - Depreciation And Amortization

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| By Geetha111987
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Geetha111987
Community Contributor
Quizzes Created: 1 | Total Attempts: 234
| Attempts: 234
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  • 1/10 Questions

    Update the Doplus mapping – FCC, Description and Value
    • TDAE – 300
    • TDEP – 150
    • TAMI - 100

    • VDEP BC-Depreciation 150, VAMI BC-Amortization 100
    • VDEP BC-Depreciation 300, VAMI BC-Amortization 100
    • VDEP BC-Depreciation 150, VDEP – Adjustment to Depreciation & Amortization 50, VAMI BC-Amortization 100
    • None of the above
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About This Quiz

This quiz focuses on the application of Auto CIP Scripts in the context of Depreciation, Amortization, and related financial adjustments, exploring various financial coding and reporting standards.

Quiz On Auto Cip Scripts - Depreciation And Amortization - Quiz

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  • 2. 
    RCA category selected in the below scenario is ( Company not reported VDEP and VAMI)  - ProProfs

    RCA category selected in the below scenario is ( Company not reported VDEP and VAMI) 

    • No Correction - Value as reported in the document

    • No Correction – Not part of Flash

    • No Correction – Correct as per TRF policy

    • No Correction - Value not reported in the document

    Correct Answer
    A. No Correction - Value not reported in the document
    Explanation
    The correct answer is "No Correction - Value not reported in the document." This means that the RCA category selected is when the value is not reported in the document.

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  • 3. 

    When the Depreciation and amortization in I/S and C/F is negative, Select the correct FCC from the below list.

    • EUIE & OUIE

    • EDEA & ODEA

    • EOIE & ONCI

    • None of the above

    Correct Answer
    A. EOIE & ONCI
    Explanation
    When the depreciation and amortization in the income statement (I/S) and cash flow statement (C/F) is negative, it implies that the company has received more cash from the sale of assets than the expense recorded in the income statement. This could be due to the sale of assets at a higher price than their carrying value.

    The correct answer, EOIE & ONCI, stands for "Extraordinary Other Income/Expense" and "Other Non-Cash Income/Expense" respectively. These categories represent non-operating income or expenses that do not involve cash flow. Therefore, when depreciation and amortization are negative, these categories may be used to offset the negative amount and provide a more accurate representation of the company's financial performance.

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  • 4. 
    What should be updated in auto cip dashboard for the below scenario  - ProProfs

    What should be updated in auto cip dashboard for the below scenario 

    • Is Error-True: Is CIP Error-True: RCA Category: Incorrect Scaling

    • Is Error-True: Is CIP Error-False: RCA Category: Technical error

    • Is Error-False: Is CIP Error-True: RCA Category: Technical error

    • Is Error-False: Is CIP Error-False: RCA Category: As reported

    Correct Answer
    A. Is Error-True: Is CIP Error-True: RCA Category: Incorrect Scaling
    Explanation
    The correct answer suggests that the auto cip dashboard should be updated to include the scenario where there is an error and the CIP error is true, and the root cause analysis (RCA) category is "Incorrect Scaling". This means that when there is an error and it is determined that the CIP error is due to incorrect scaling, this specific scenario should be accounted for and displayed on the dashboard.

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  • 5. 

    How the difference b/w sum of TDEP & TAMI and the total combined value (TDAE) flows to Doplus

    • VDEP BC-Depreciation

    • VAMI BC-Amortization

    • VDAE BC-Depreciation & Amortization

    • VDEP BC-Adjustment to Depreciation and Amortization

    Correct Answer
    A. VDEP BC-Adjustment to Depreciation and Amortization
    Explanation
    The difference between the sum of TDEP and TAMI and the total combined value (TDAE) flows to Doplus through the VDEP BC-Adjustment to Depreciation and Amortization. This means that any adjustments made to the depreciation and amortization values will affect the difference between TDEP and TAMI, and this difference will ultimately be reflected in the total combined value. The VDEP BC-Adjustment to Depreciation and Amortization account is used to capture these adjustments and ensure that the correct values are recorded in Doplus.

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  • 6. 
    Can you update comment below in the auto cip dashboard - ProProfs

    Can you update comment below in the auto cip dashboard

    • Missed to Capture

    • Missed/ Incorrect CT Bookmark

    • Missed/Incorrect SI Information

    • Missing breakout

    Correct Answer
    A. Missed to Capture
    Explanation
    The correct answer suggests that the person missed capturing something in the auto cip dashboard. It could refer to missing data, information, or any other important detail that should have been recorded in the dashboard but was overlooked or forgotten.

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  • 7. 

    What is the polarity for BGB & BGG and BDB & BDG section tag in segment?

    • BGB & BGG- Negative: BDB & BDG- Neutral

    • BGB & BGG- Neutral: BDB & BDG-Negative

    • BGB & BGG- Negative/Neutral: BDB & BDG- Negative/Neutral

    • BGB & BDB- Negative/Neutral: BGG & BDG- Negative/Neutral

    Correct Answer
    A. BGB & BGG- Neutral: BDB & BDG-Negative
    Explanation
    The given answer states that the polarity for BGB & BGG section tag in the segment is neutral, while the polarity for BDB & BDG section tag is negative. This means that BGB & BGG section tag does not have a positive or negative polarity, while BDB & BDG section tag has a negative polarity.

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  • 8. 

    From the below extract update  TDAE, TDEP and TAMIAs reported Depreciation, Amortization & Impairment is 100 (C/F), Depreciation 80, Amortization 10 and Impairment 10

    • TDAE 100, TDEP 80, TAMI 10

    • TDAE 80, TDEP 80, TAMI 10

    • TDAE 90, TDEP 80, TAMI 10

    • TDAE 110, TDEP 90, TAMI 10

    Correct Answer
    A. TDAE 90, TDEP 80, TAMI 10
    Explanation
    The correct answer is TDAE 90, TDEP 80, TAMI 10. This is because the given extract states that the reported Depreciation, Amortization & Impairment is 100, with Depreciation being 80, Amortization being 10, and Impairment being 10. Therefore, the total of TDAE (Depreciation, Amortization & Impairment) would be 100. Since the given answer option has TDAE as 90, which is the sum of Depreciation (80), Amortization (10), and Impairment (10), it is the correct answer. TDEP and TAMI also match the given values in the extract.

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  • 9. 

    If the company reports amortization of goodwill and also amortization of other intangibles, we should use below codes

    • VAMA + VAMI

    • VAMO + VAMA

    • VAMA + VAOI

    Correct Answer
    A. VAMA + VAOI
    Explanation
    The correct answer is VAMA + VAOI. This is because if the company reports amortization of goodwill (VAMA) and also amortization of other intangibles (VAOI), then using these codes will accurately capture the amortization expenses for both goodwill and other intangible assets. The other code combinations mentioned (VAMO + VAMA and VAMA + VAMI) do not include the amortization of other intangibles, so they would not provide a complete representation of the company's amortization expenses.

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  • 10. 

    Please pick Codes where company reports by-function where value is  included (partial value) in income statement for depreciation in footnote section.

    • VDEP,VAMI

    • EDEC,EDES, EDRD

    • EDAS, EARD, EAMS

    • EDEP,EAMI,EAMA

    Correct Answer
    A. EDEC,EDES, EDRD
    Explanation
    The correct answer is EDEC, EDES, EDRD. These codes represent the company reports that include partial value for depreciation in the income statement for depreciation in the footnote section.

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Quiz Review Timeline (Updated): Mar 14, 2023 +

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  • Current Version
  • Mar 14, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jun 26, 2015
    Quiz Created by
    Geetha111987

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