Q1. An organization has a policy of charging the same depreciation amount for the fixed asset in each de-preciation period. You need to configure depreciation according to this policy. Which depreciation method should you use?
A. Straight line service life
B. Consumption
C. Reducing balance
D. Factor
Answer: A
Q2. You need to analyze the maturity of customer accounts and vendor accounts, based on a date that you enter. The date entered, together with the Unit and Interval information defined, will be used to calculate and view the transactions.
What should you do?
A. Set up Aging period definition.
B. Set up Customer pool.
C. Set up Aging snapshot.
D. Set up interest codes.
Answer: C
Q3. You want a 2% bank charge to appear by default on all electronic methods of payment. What do you need to set up and then link to the method of payment?
A. terms of payment
B. payment specification
C. payment fee
D. payment control
Answer: B
Q4. You are creating a parent budget plan that will consist of budget amounts for all departments.
You then need to create associate budget plans and link them to the parent budget. Before you can create the associate budget plans, which two steps must be complete?
Each correct answer presents part of the solution.
A. The budget plan priority must be selected on the budget plan creation.
B. The budget organization hierarchy must have at least two levels.
C. The budget planning process that you select must be set up for associated budget plans.
D. The individual preparing the budget plan needs appropriate permissions to create an associate budget plan.
Answer: A,C
Q5. You are the finance manager at your company, and you are configuring the bank module. Your primary concern is reviewing processes before posting.
Aside from workflow, which two processes are in the cash and bank parameters for an un- posted journal to be created before posting? Each correct answer presents a complete solution.
A. intercompany transfers
B. electronic payments
C. deposit slip cancellations
D. check reversals
Answer: B,D
Q6. Your company is considering tracking budgets by Account, Department, and Cost Center dimensions. There is a requirement to prevent exceeding the budgeted amounts for each Department but not for each Cost Center.
Which three actions must be performed to allow budget control for Accounts and Department, and basic budgeting by Account, Departments, and Cost Center, before budget control is enabled? Each correct answer presents part of the solution.
A. Select only “MainAccount” and “Department” as budgeting dimensions.
B. Select the main accounts for budget control.
C. Select only “MainAccount” and “Department” as budget control dimensions.
D. Select only “Department” as a budget control dimension.
E. Select only “MainAccount,” “Department” and “CostCenter” as budgeting dimensions.
Answer: B,C,D
Q7. You need all budget transfers to use a workflow except the specific members of the budget transfer rules.
When creating a budget transfer rule, what information is used to define when transfers are allowed?
A. the dimensions on the transfer
B. the amount of the transfer
C. the date of the transfer
D. the employee requesting the transfer
Answer: C
Q8. You are creating a parent budget plan that will consist of budget amounts for all departments.
You then need to create associate budget plans and link them to the parent budget. Before you can create the associate budget plans, which two steps must be complete?
Each correct answer presents part of the solution.
A. The budget plan priority must be selected on the budget plan creation.
B. The budget organization hierarchy must have at least two levels.
C. The budget planning process that you select must be set up for associated budget plans.
D. The individual preparing the budget plan needs appropriate permissions to create an associate budget plan.
Answer: A,C