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1. What are the components of an account schedule?
A) An analysis view name, a defined list of G/L accounts, and a column layout
B) A schedule name, a list of lines, and a column layout
C) A schedule name, a list of G/L accounts, and a column layout
D) An analysis view name, a list of lines, and a defined list of G/L accounts
2. You need to turn in your periodical value added tax (VAT) declaration. Where can you report the tax amounts to be settled?
A) VAT registers
B) VAT exceptions
C) VAT statements
D) VAT adjustments
3. You need to ensure that users are prompted to confirm a payment discount before they post a short payment from a customer.
What steps do you need to take in the General Ledger Setup window?
A) Populate the Payment Tolerance do and Max. Pmt. Tolerance Amount fields and run the Change Payment Tolerance batch job.
B) Enable Payment Tolerance Warning, set Payment Tolerance Posting to Payment Discount Account, and populate the Payment Tolerance % and Max. Payment Tolerance Amount fields.
C) Enable Payment Tolerance Warning, set Payment Tolerance Posting to Payment Discount Account, and run the Change Payment Tolerance batch job.
D) Enable Pmt. Disc. Tolerance Warning, set Pmt. Disc. Tolerance Posting to Payment Discount Accounts, and run the Change Payment Tolerance batch job.
4. Which statement about the value added tax (VAT) calculation type reverse charge VAT is true?
A) This option is used only by Sales & Receivables and creates two VAT entries with the VAT amount that balance to 0.
B) This option is used only by Purchases & Payables transactions and creates two VAT entries with the VAT amount that balance to 0.
C) This option creates two G/L entries with the VAT amount that balance to 0 and one VAT entry.
D) This option creates two G/L entries with the VAT amount that balance to U and two VAT entries.
5. An organization purchases an asset that consists of multiple components. The components have a different depreciation method and vendor.
You need to track the total costs of the asset.
What two actions should you perform? (Each correct answer presents part of the solution. Choose two.)
A) Set up each component asset as a main asset component from the main asset card.
B) Create fixed asset cards for the asset and each component.
C) Set up an FA class that is connected to the FA subclasses.
D) Connect each component asset to the other component assets using the FA subclasses.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: C,D |
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