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WorksheetsDynamics BC365 - Basic Finance
Total questions: 80
Worksheet time: 20hrs 0mins
Name
Class
Date
1.
Where are fiscal years defined?
a)
Fiscal Year window
b)
Accounting Periods window
c)
General Ledger Setup window
d)
Company Setup window
2.
Where are posting date restrictions set in Microsoft Dynamics BC365? (choose 2 that apply)
a)
General Ledger Setup window
b)
Database or Windows Logon window
c)
User Setup window
d)
General Journal Templates window
3.
How many global dimensions can be defined?
a)
2
b)
6
c)
8
d)
Unlimited
4.
Which rule applies when you change the starting date of an accounting period?
a)
You cannot change the starting date of an accounting period.
b)
The starting date can only be changed for accounting periods in the future.
c)
You can change the starting date of an accounting period.
d)
The starting date can only be changed for accounting periods without a date lock.
5.
In the G/L Account Card, what field is used to determine which accounts are closed during the fiscal year end closing process?
a)
Reconciliation Account
b)
Debit/Credit
c)
Account Type
d)
Income/Balance
6.
Besides using the Name on a G/L account card, what other option do you have to specify that a specific G/L account is a liability account?
a)
Select Liability in the G/L Account Type field.
b)
Assign Liability in the Account Category field on the G/L account card.
c)
Create a general product posting group LIABILITIES and assign it to the G/L account.
d)
There is no other option to do this besides using the Name field.
7.
How do you define a G/L account as a sales account?
a)
By assigning a general business posting group that is linked to a sales account.
b)
By assigning a general product posting group that is linked to a sales account.
c)
By linking the combination of the general business posting group and general product posting group to a sales account.
d)
By selecting Sale in the Gen. Posting Type field.
8.
Direct posting is typically not enabled for G/L accounts on which only system-generated transactions are posted. For which of the following G/L account would you select direct posting?
a)
Receivables account
b)
Cash account
c)
Office supplies account
d)
Inventory Finished Goods account
9.
What type of journal does not have a balancing account on the line?
a)
Payment Journal
b)
Recurring General Journal
c)
General Journal
d)
Sales Journal
10.
Which of the following statements on the Preview Posting function is not true?
a)
The Preview Posting function helps you to understand the effect transactions will have
b)
You can use the Preview Posting function from the job journal and job G/L journal
c)
The Preview Posting function shows the receivables G/L account that will be used when posting a sales invoice
d)
You can use the Preview Posting function when unapplying vendor ledger entries
11.
Which of the following is not a valid Calculation Method used to define Deferral Templates?
a)
Straight-Line
b)
Logarithmic
c)
Equal per Period
d)
User-Defined
e)
ceivables and Payables
12.
What is the result of selecting "Apply to oldest" in the Application Method field on the customer card?
a)
Payments are always applied to the oldest of the customer's open entries.
b)
If you do not specify a document for the payment to be applied to, payments are applied to the oldest of the customer's open entries.
c)
The oldest of the customer's open entries are displayed on the Apply Entries page but you still have to select the entries to apply to manually.
d)
You can only apply to one entry at a time.
13.
On the Bank Account Card, what makes the program post the related G/L entries for each transaction by using the bank account?
a)
Posting Account No.
b)
Bank Acc. Posting Group
c)
Bank Account No.
d)
Bank Acc. G/L Group
14.
After importing a bank statement in the payment reconciliation journal, you use the Apply Automatically function. You do not agree with one of the suggestions the system makes. What should you do?
a)
First use the Unapply Entries function, and then go to the Apply Manually page and select the entries you want to apply.
b)
First post the payment reconciliation journal, then use the Unapply Entries function, and then go to the Apply Manually page and select the entries you want to apply.
c)
In the payment reconciliation journal, go to the Apply Manually page, use the Remove Applications function to remove the initial application, and select the entries you want to apply.
d)
On the payment reconciliation journal lines, first change the Match Confidence field to Manual, and then go to the Apply Manually page, use the Remove Applications function to remove the initial application, and select the entries you want to apply
15.
In the payment journal, you have used the Export Payments to File function to create a payment file. However, before you could send it to your bank, the file gets lost. What should you do?
a)
If the payment journal is already posted, first use the Reverse Register function, to reverse the posted payments, and then go to periodic activities to run the Reexport Payments to File function.
b)
Because a payment file can only be created once, you have to go to the Credit Transfer Reg. Entries page where you can print a list of the payments. You can send this to your bank.
c)
Run the Reexport Payments to File function from the payment journal.
d)
Run the Reexport Payments to File function from the credit transfer registers.
16.
What can the Bank Data Conversion Service be used for?
a)
To have a bank statement file that you receive from your bank converted to a data stream that you can import into Microsoft Dynamics BC365, and to have payment information that you export as a data stream converted to a bank payment file in the format that your bank requires.
b)
To have a bank statement file that you receive from your bank converted to a data stream that you can import into Microsoft Dynamics BC365.
c)
To have payment information that you export as a data stream converted to a bank payment file in the format that your bank requires.
d)
To convert SEPA files to a data stream that you can import into and export from Microsoft Dynamics BC365.
17.
Which of the following must occur before you post a bank reconciliation?
a)
The Bank Account Statement - Test Report is printed.
b)
The Total Difference field equals the sum of all lines with the Type field set to Difference.
c)
The value in the Statement Ending Balance field must not equal the value in the Total Balance field.
d)
There are unapplied entries.
18.
When creating a new bank account reconciliation, you have to reconcile the bank statement lines with the bank account ledger entries. Which of the following options do you have to retrieve the bank statement lines in the bank account reconciliation page? (choose 2 that apply)
a)
Run the Get Bank Statement Lines batch from the periodic activities in the cash management application area.
b)
Use the Import Bank Statement function from the ribbon on the bank account reconciliation page.
c)
Use the Suggest Lines function from the ribbon on the bank account reconciliation page.
d)
Transfer the bank statement lines from the bank account card to the bank account reconciliation page.
19.
To post the bank reconciliation, which fields must balance?
a)
Statement ending balance and balance
b)
Statement ending balance and total balance
c)
Total balance and balance
d)
Statement balance and statement ending balance
20.
On which two fields is the amount in the Difference field based on?
a)
Statement amount and total balance
b)
Statement amount and balance
c)
Applied amount and balance
d)
Statement amount and applied amount
21.
You receive a purchase invoice from a vendor invoicing multiple receipts of the last month. How can you process the invoice?
a)
In the purchase order list, select the orders from which items are invoiced, and click Post Batch in the ribbon.
b)
Create a new purchase invoice and run the Get Receipt Lines function to select the items that are being invoiced by the vendor.
c)
Run the Combine Receipts batch job for this vendor.
d)
Create a new purchase invoice and enter the invoiced items manually.
22.
Immediately after posting a sales invoice, you realize that you have invoiced an item at a wrong price. What can you do to post a corrective credit memo and prepare a new sales invoice that you can use to invoice at a correct price?
a)
From the posted sales invoice, run the Create Corrective Credit Memo function.
b)
From the posted sales invoice, run the Cancel function.
c)
From the posted sales invoice, run the Correct function.
d)
From the posted sales invoice, run the Get Posted Document Lines to Reverse function.
23.
Which of the following statements on the Combine Shipments functions is not true?
a)
In the combine shipments request page, you can enter a different posting date and document date.
b)
You can enable the calculation of invoice discount when running the Combine Shipments batch job.
c)
After running the Combine Shipments batch job, sales invoices are automatically posted.
d)
You can run the Combine Shipments batch job only for specific customers.
24.
Your customer took 3% payment discount instead of the 2% allowed. You decide to grant the customer the 3% payment discount, but payment tolerances are not set up in the system. What is the best way to adjust the payment discount when processing the payment in the cash receipt journal?
a)
Go to the posted invoice, and change the Payment Discount % field to 3%. Then apply the invoice in the cash receipt journal.
b)
On the cash receipt journal line, enter manually the payment discount amount in th Payment Discount field.
c)
In the cash receipt journal, apply the full amount of the invoice, and on the following line, enter the payment discount amount.
d)
In the Apply Customer Entries page, set the applies-to ID for the invoice the customer paid, and manually update the Remaining Pmt. Disc. Possible field to match the 3% taken by the customer.
25.
What do you select in the Payment Terms window, to grant a payment discount of three percent if payment is received within ten days of the document date?
a)
Enter D10 in the Discount Date Calculation field, and 3 in the Discount % Field.
b)
Enter 10D in the Discount Date Calculation field, and .03 in the Discount % Field.
c)
Enter 10D in the Discount Date Calculation field, and 3 in the Discount % Field.
d)
Enter D10 in the Discount Date Calculation field, and .03 in the Discount % Field.
26.
For some customers, you want to be notified by the system every time an application has a balance amount within the tolerance specified in the Max. Payment Tolerance field in the General Ledger Setup table. How can you achieve this?
a)
In the General Ledger Setup, enable the Payment Tolerance Warning field.
b)
For these customers, on the customer card, enable the Payment Tolerance Warning field.
c)
For these customers, when applying a payment, run the Check Payment Tolerance Warning function.
d)
Enable the Payment Tolerance Warning field for all the currencies assigned to the customers you want to be notified for..
27.
Which of the following statements on reminders is true?
a)
A reminder term in Microsoft Dynamics BC365 always has three levels.
b)
You can charge interest to a customer by using reminders.
c)
You can only create each reminder level once.
d)
Additional fees are always posted to the general ledger.
28.
What can you use the Update Reminder Text function for?
a)
The beginning and ending text on the reminder is changed. If you use text variables, they are recalculated.
b)
The beginning and ending text on the reminder is changed.
c)
If you use text variables, they are recalculated.
d)
The beginning and ending text are translated to the language you choose when running the functions.
29.
On which on the following entries can you calculate interest?
a)
Open entries, applied entries, all entries
b)
Open entries, applied entries, closed entries.
c)
Applied entries, closed entries, all entries.
d)
Open entries, closed entries, all entries.
30.
Which option can be used, when running the Create Reminders Batch Job, to make sure that none open customer ledger entries that are not on hold and are not due for payment yet will be shown on reminders?
a)
Include Entries On Hold
b)
Use Header Level
c)
Only Entries with Overdue Amount
d)
one - all open entries that are not on hold even if the entries are not due for payment yet will be shown on reminders.
31.
Where can you set up prices including VAT? (choose 3 that apply)
a)
G/L accounts
b)
Customer and vendor cards
c)
Sales and purchase documents
d)
Item cards
32.
What happens when the Calc. and Post VAT Settlement batch job is posted?
a)
VAT entries are closed and removed.
b)
Purchase VAT entries are applied with sales VAT entries.
c)
Purchase and Sales VAT amounts are transferred to the VAT settlement account.
d)
A payment line is suggested in the payment journal.
33.
Which of the following is required to adjust VAT amounts in sales and purchase documents? (choose 3 that apply)
a)
The VAT difference must be allowed for sales and purchases.
b)
A maximum VAT correction amount allowed must be specified.
c)
The Invoicing FastTab must be selected on the Sales Order Statistics or Purchase Order Statistics window.
d)
A minimum VAT correction amount allowed must be specified.
34.
Which of the following methods can be used to correct prepayment invoices? (choose 3 that apply)
a)
Delete invoiced prepayment lines from the order.
b)
Increase the prepayment amount.
c)
Reduce the quantity on sales and purchase lines.
d)
Add new lines to an order after issuing a prepayment.
35.
One of our vendors requires us to prepay 40% when ordering items from their "SUMMER" range. This item range contains 20 different items. How do you set this up in Microsoft Dynamics BC365?
a)
Create an Item Discount Group to which you assign the 20 items. Then in the Prepayment Percentages page combine the vendor with the item discount group, and enter 40 in the Prepayment % field.
b)
Create an Item Prepayment Group to which you assign the 20 items. Then in the Prepayment Percentages page combine the vendor with the item prepayment group, and enter 40 in the Prepayment % field.
c)
Create an Inventory Posting Group to which you assign the 20 items. Then in the Prepayment Percentages page combine the vendor with the Inventory Posting group, and enter 40 in the Prepayment % field.
d)
In the Prepayment Percentages page, enter individual lines for all 20 items combined with the vendor, and enter 40 in the Prepayment % field.
36.
Which option can be used to make sure that you cannot ship or invoice orders to customers with unpaid prepayment amounts?
a)
Check Prepmt. when Posting in the Purchases & Payables Setup.
b)
Payment Tolerance Warning in the General Ledger Setup.
c)
Check Prepmt. when Posting in the Sales & Receivables Setup.
d)
This option is not available.
37.
What does not occur after the Close Year process is run?
a)
The next entries posted in the closed year are marked as prior-year entries.
b)
The Closed and Date Locked check boxes in the Accounting Periods window are selected.
c)
Period lengths of closed periods cannot be changed.
d)
A new fiscal year is created.
38.
What type of account are closing entries transferred to?
a)
Accrued Earnings
b)
Retained Earnings
c)
Accrual Entries
d)
Retained Accruals
39.
After closing the income statement, can you still post general journal entries with posting dates in the closed fiscal year?
a)
Yes. After posting, these entries are marked as prior-year entries.
b)
Yes, but first you need to reopen the fiscal year.
c)
No, this is not possible.
d)
Yes, but you can only post on the last day of the closed fiscal year.
40.
What must occur to prevent users from posting in a closed period?
a)
Open a new fiscal year.
b)
Select the Date Locked field for the closed period.
c)
Set a date range in the General Ledger Setup window.
d)
Close the Income Statement.
41.
Which of the following posting groups can you update in the VAT rate change process? (choose 2 that apply)
a)
General business posting group.
b)
VAT business posting group.
c)
VAT product posting group.
d)
General product posting group.
e)
Inventory posting group.
42.
What is true about prepayment invoices in relation to the VAT rate change tool?
a)
The system creates credit memos for the posted prepayment invoices and converts them to the new VAT rate.
b)
The system adds lines to the posted prepayment invoices with the difference between the old and new VAT rate.
c)
Documents that have posted prepayment invoices are not converted by the VAT rate change tool.
d)
Only non-posted prepayment invoices are converted by the VAT rate change tool.
43.
Which type of master data cannot be set up in the VAT Rate Change Setup window?
a)
Resources
b)
Work Centers
c)
Items
d)
Item Charges.
e)
Jobs
44.
From the Incoming Document window, you can use the Create Manually function to create a business transaction for the incoming document. Which of the following is not an option to create using the Create Manually function in the Incoming Document window?
a)
Journal.
b)
Sales Order.
c)
Sales Credit Memo.
d)
Purchase Invoice.
45.
You received a PDF purchase invoice that you have sent to the Lexmark ICS. After receiving it back, you see that the vendor is recognized correctly. What do you need to do to have the system automatically insert items on the purchase lines that are created from electronic documents?
a)
On the Invoice Lines FastTab of the Incoming Documents page, enter the items that are invoice by the vendor.
b)
Set up item cross references that link the vendor item numbers with your item numbers.
c)
Set up nonstock items for the items that you purchase from that vendor.
d)
Enter the vendor item number in the Common Item No. field on the item card.
46.
A posted purchase invoice that is created from an incoming document, shows the linked document in the Incoming Documents FactBox. From which other places can you retrieve the linked incoming documents? (choose 3 that apply)
a)
From the G/L entries from the posted purchase invoice.
b)
From the Vendor Ledger Entry from the posted purchase invoice.
c)
From the overview of related entries when you run Navigate from the posted purchase invoice.
d)
From the Detailed Vendor Ledg. Entry from the posted
47.
What can you use the Currency Exchange Rate Service for?
a)
For setting up currency exchange rates for service items.
b)
To keep the currency exchange rates in Microsoft Dynamics BC365 up to date by using an external service.
c)
To calculate the currency exchange rate differences for non-item related transactions.
d)
To enable the calculation of currency exchange rate differences.
48.
When entering a cash receipt journal, you would like to adjust the exchange rate of the foreign currency, based on the rate your bank applied for a customer payment in that foreign currency. What do you need to set up to achieve this?
a)
On the Currency card, select the Manual Exchange Rate field.
b)
On the cash receipt journal line, select the Modify Exchange Rate field.
c)
In the general ledger setup, clear the Fix Exchange Rates field.
d)
On the Currency Exchange Rate page, set the Fix Exchange Rate Amount field to "Relational Currency".
49.
Which statement is true about the Adjust Exchange Rates batch job?
a)
You can specify if you want to calculate realized or unrealized exchange rate differences.
b)
The batch job runs for one currency at a time.
c)
The batch job can adjust customer, vendor, and bank account entries.
d)
You need to run the batch job a least once a month.
50.
When you import budgets from Excel, which option is best suited to create a single consolidated budget from several other individual budgets created in separate Excel worksheets?
a)
Append Entries
b)
Combine Entries
c)
Add Entries
d)
Replace Entries
51.
What is true about the Copy Budget function? (choose 3 that apply)
a)
You can specify the number of periods to which the budget should be copied.
b)
You can use dimension value filters in the copy process.
c)
You can use G/L entries as the source for the new budget entries.
d)
You can select dimensions to be copied to the new budget entries.
52.
Which of the following is not an option in the Show as Lines and Show as Columns fields?
a)
Business Unit
b)
Dimension Value
c)
G/L Account
d)
Period
53.
What is the level on a cost allocation used for?
a)
The number in the Level field can be used to filter the cost allocations you want to process.
b)
To define allocation order. The allocation posting follows the order of the levels.
c)
To enter the allocation key.
d)
To enter the Level of a cost center or cost object.
54.
What is true about Cost Budgets? (choose 2 that apply)
a)
Users can create as many cost budgets as they want.
b)
Users can copy the cost budget to the item budget or copy the item budget to the cost budget.
c)
Users can copy G/L entries to Cost Budgets.
d)
Users can transfer budgeted costs to actual costs.
55.
How many allocation levels can you use in Microsoft Dynamics BC365?
a)
99
b)
10
c)
100
d)
Unlimited
56.
You are setting up a dynamic cost allocation. In the Base field you select Items Sold (Amount). What can you use the Group Filter field for on the cost allocation lines?
a)
To group a number of cost objects you want to allocate costs to.
b)
To group a number of cost centers you want to allocate costs to
c)
To specify an item filter so that the dynamic calculation of the Share field is based on the filter.
d)
To specify a filter so that the dynamic calculation of the Share field is based on the chosen inventory posting group.
57.
What are Cash Flow Manual Expenses used for?
a)
To include expense amounts that are not posted in the general ledger, purchase, sales, and fixed assets area.
b)
To include the expenses that are posted from a general journal instead of a purchase document.
c)
To include expenses that are paid by manual check.
d)
To include expenses that are paid cash or by manual check.
58.
What do you need to create if you want to take into account the future revenues from rental income in your cash flow forecast?
a)
A Projected Cash Flow Revenue
b)
A Projected Manual Income
c)
A Cash Flow Manual Income.
d)
A Cash Flow Manual Revenue.
59.
Where is the Cash Flow Forecast Chart displayed?
a)
On the Cash Flow Forecast Statistics page.
b)
On the Cash Flow Forecast Card page.
c)
On the Account Schedule page.
d)
On the role center.
60.
Which of the following source types can you use in cash flow forecasts? (choose all that apply)
a)
Jobs.
b)
Receivables.
c)
Tax.
d)
Fixed Assets Budget.
61.
Which of the following statements about G/L Balance by Dimension analysis report is true?
a)
Not all dimensions, but only the two global ones can be displayed in the analysis report by using the Show as Lines and Show as Columns fields.
b)
The G/L Balance by Dimension analysis report only shows income statement G/L accounts
c)
You can not print the analysis
d)
The G/L Balance by Dimension analysis report only shows G/L Accounts that have the account type Posting.
62.
In an account schedule, in the Totaling Type field, you determine which accounts within the totaling interval you specify in the Totaling field will be totaled. Which of the following are valid options in the Totaling Type field?
a)
Posting Accounts
b)
Budget Entry Accounts.
c)
Cash Flow Entry Accounts.
d)
Cash Flow Total Accounts.
63.
If you want to use dimensions other than the two global ones in an account schedule, what do you have to do?
a)
Assign the dimensions in the Account Schedule Matrix page.
b)
Set up Account Schedule Dimensions.
c)
Set up an analysis view with the required dimensions, and assign it to an account schedule.
d)
Nothing. By default, all the dimensions are available in an account schedule.
64.
In general, fixed assets are assigned to classes and subclasses. To which of the following classes are cars assigned?
a)
Tangible fixed assets
b)
Intangible fixed assets
c)
Financial fixed assets
d)
Rolling fixed assets
65.
Besides fixed assets, which other type of master data can you set up in the fixed assets application area in Microsoft Dynamics BC365?
a)
Loans
b)
Maintenance vendors
c)
Insurances
d)
FA Locations
66.
Which of the following setup fields do you enter on the depreciation book?
a)
Salvage Value
b)
Use FA Ledger Check
c)
Use Half-Year Convention
d)
Depreciation Table Code
67.
Which of the following statements on FA Journals are true?
a)
You can post the acquisition cost to a fixed asset using a FA Journal
b)
Posting from a FA Journal generates FA Ledger Entries and G/L Entries
c)
You can only post depreciations from a FA Journal for depreciation books without G/L Integration enabled for depreciations
d)
You can post fixed asset disposals from a FA Journal
68.
When setting up FA Posting Groups, you can enter allocations for fixed assets. What can you use these fixed assets allocations for?
a)
To allocate depreciation percentages to a FA posting group
b)
To allocate the G/L account to which insurance costs are posted
c)
To allocate classes and subclasses to each FA posting groups
d)
To allocate the amount in the fixed asset G/L journal to several accounts and/or dimensions
69.
You have set up a fixed asset with Declining-Balance 1 as depreciation method. What describes the declining-balance 1 depreciation method?
a)
Declining-Balance 1 depreciates a fixed asset by the same amount each year
b)
Declining-Balance 1 is an accelerated depreciation method that allocates the largest portion of the cost of an asset to the last years of its useful lifetime
c)
Declining-Balance 1 is an accelerated depreciation method because it doubles the percentage used to depreciate the acquisition cost of a fixed asset
d)
Declining-Balance 1 is an accelerated depreciation method that allocates the largest portion of the cost of an asset to the early years of its useful lifetime
70.
Last year you posted the acquisition cost for a new computer server which you already started to depreciate. This year you are purchasing a memory extension for the computer server. You want to link these fixed assets so that they are grouped in the FA Book Value 01 report. Which of the following is the best way to achieve this?
a)
Post the acquisition cost for the memory extension to the fixed asset record you created last year for the computer server.
b)
Create a new fixed asset card for the memory extension. After posting the acquisition cost, go to the fixed asset card for the computer server, and in the ribbon, use the function Main Asset Components to link other fixed assets as components.
c)
Create a new fixed asset card for the memory extension. After posting the acquisition cost, go to the fixed asset card for the memory extension, and in the ribbon, use the function Assign to Main Asset to assign the fixed asset as a component to another fixed asset.
d)
Use the reclassification journal to reclassify the two fixed assets to one new fixed asset.
71.
You have purchased ten printers to be used in different departments. Instead of posting the ten printers to one fixed asset, you want to create a fixed asset for each single printer, so that you can enter each printer's unique serial number and assign their respective FA locations. What is the most efficient way to create the ten fixed assets in Microsoft Dynamics BC365?
a)
Create one fixed asset manually, then use the Copy Fixed Asset function to instantly create nine new fixed assets.
b)
Create one fixed asset manually, then use the Copy Depreciation Book function to instantly create nine new fixed assets.
c)
Create one fixed asset manually, then export the fixed asset to Excel (using RapidStart Services, enter the other nine fixed assets in Excel, and import back into Microsoft Dynamics BC365.
d)
Create all ten fixed assets manually.
72.
CRONUS International Ltd. purchases a new truck for the amount of 125,000.00 LCY. They estimate that after the depreciable lifetime, which is five years, the truck will still have a value of around 22,000.00. They want to take into account this value by decreasing the periodic depreciations, starting from the first one. How can they achieve this?
a)
In the purchase invoice they use to post the acquisition cost, they should enter 22,000.00 in the Ending Value field.
b)
When creating the fixed asset, they should enter 22,000.00 in the Ending Book Value field on the Posting FastTab.
c)
When creating the fixed asset, they should enter 22,000.00 in the Ending Book Value field on the Lines FastTab.
d)
In the purchase invoice they use to post the acquisition cost, they should enter 22,000.00 in the Salvage Value field.
73.
When running the Calculate Depreciation batch job, you want the system to use thirty days in the depreciation calculation for all fixed assets. What is the best way to achieve this?
a)
You don't need to do anything special. By default, thirty days is used in the depreciation calculation for all fixed assets.
b)
In the Calculate Depreciation batch, in the Starting Date field, enter the first day of the month, and in the Ending Date field, enter the last day of the month.
c)
In the Calculate Depreciation batch, select the Use Force No. of Days field, and in the Force No. of Days field, enter 30.
d)
Run the Calculation Depreciation batch job, and in the FA G/L journal or the FA journal, before posting, update the No. of Depreciation Days for all fixed assets to 30.
74.
You are entering a purchase invoice to post the acquisition cost to a fixed asset that is set up with two depreciation books. What is the best way to post the acquisition cost to both depreciation books?
a)
On the purchase line of the invoice, select the Use Duplication List field. When posting, the system will create FA journal lines for the depreciation books that are part of a duplication list. You can then post the FA journal.
b)
When you post the acquisition cost from a purchase invoice, by default the acquisition cost is posted to all depreciation books of a fixed asset.
c)
For all the depreciation books without G/L integration, you have to manually enter the acquisition cost in the FA journal, and then post the lines.
d)
Periodically, you can run the Copy Depreciation Book function to copy the acquisition cost from one to another depreciation book.
75.
You want to post opening transactions for fixed assets for which only fixed asset ledger entries should be posted. Which of the following settings should you use?
a)
Disable the G/L Integration on the depreciation book, and use the FA G/L Journal.
b)
Enable the G/L Integration on the depreciation book, and use the FA Journal.
c)
Disable the G/L Integration on the depreciation book, and use the FA Journal.
d)
Enable the G/L Integration on the depreciation book, and use the FA G/L Journal.
76.
After posting the depreciations of January 2018, you realize that you have used the wrong posting date. This means that the January 2018 depreciations of all fixed assets should be corrected. What is the best way to do this?
a)
From the G/L Registers, use the Reverse Transaction function to reverse the depreciation posting of January 2018. Then use the Calculate Depreciation batch job to re-calculate the depreciations.
b)
From the Depreciation Book for which the depreciations were posted, use the Cancel FA Ledger Entries batch job to cancel the January 2018 depreciations. Then use the Calculate Depreciation batch job to re-calculate the depreciations.
c)
In the Fixed Assets list, select the fixed assets for which you want to cancel the depreciations, then in the ribbon, click the Cancel Entries function to cancel the January 2018 depreciations. Then use the Calculate Depreciation batch job to re-calculate the depreciations.
d)
Use the Copy Depreciation Book batch job to copy the depreciations for January 2018. Then use the Calculate Depreciation batch job to re-calculate the depreciations.
77.
If you are acquiring a fixed asset for which you created a budgeted fixed asset card before, what can you do to exclude the budgeted asset from budgeted depreciation reports?
a)
You have to block the budget fixed asset.
b)
You can delete the budgeted fixed asset.
c)
In the Budgeted FA No. field on the purchase line, you can enter the budgeted fixed asset number. The program will create an additional entry on the budgeted asset number where the amount will have the opposite sign.
d)
On the budgeted fixed asset card, in the Acquired FA No. field, you can enter the fixed asset number that you actually acquired. Then program will then exclude the budgeted asset from budgeted depreciation reports.
78.
Which of the following statements are true about posting maintenance expenses through a purchase invoice?
a)
You have to assign a Maintenance Code.
b)
You have to select Maintenance in the FA Posting Type field.
c)
The Depreciation Expense Acc. field of the FA Posting Group for the fixed asset for which you post the maintenance expense should have a value.
d)
The maintenance expense will not increase the book value of the fixed asset.
79.
You have linked a number of fixed assets by using the Main Asset/Components function. Where can you see the total maintenance expenses for all components?
a)
In the Maintenance Registration page of the main asset.
b)
In the Statistics page of the main asset.
c)
By running the Maintenance Main Asset report.
d)
In the Main Asset Statistics page.
80.
Which of the following information is not shown in the insurance statistics?
a)
The Annual Premium amount.
b)
The Policy Coverage amount.
c)
The Insurance Type.
d)
The Over/Under Insured amount.
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