Question 1

A chart of accounts (COA) must be specified on the accounting method for which two situations?

Options :

A : When using ledgers that have unique accounting requirements

B : When using account combination rules

C : When account combination rules use constants

D : Every accounting method should have a COA.

E : When usingsegment rules

Answer: B,E

Question 2

You are establishing the cost for a make assembly. When we run Cost Rollup, it is not rolling up and theAssembly shows "0" cost. However,item costs are available for child (buy) components. In the review workorder cost, we are able to see child components costs, but not the rollup cost of the assembly.Identify two reasons this happened

Options :

A : The item has no on-hand inventory.

B : The assembly item is marked as Perpetual Average costed.

C : Outstanding purchase orders have not been received.

D : The Work Definition is incomplete.

E : Burdens have not been established for the item

Answer: D,E

Question 3

You have configured your expense items to accrue at receipt. You have created a few purchase orders andwant to verify that the supplier invoices have been created.Which accounting entries signal this process has taken place?

Options :

A : Debit Charge Account (expense or inventory), Credit Receiving Inspection

B : Debit Accrued Liability, Credit Accounts Payable

C : Debit Receiving Inspection, Credit Accrued Liability

D : Debit Expense, Credit Receiving Inspection

E : Debit Expense, Credit Expense Accrual

Answer: C

Question 4

You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work area. Why can't you see this process?

Options :

A : Purchase order information is automatically sent to Receipt Accounting using a real-timemethod

B : This process can only be scheduled and run from the Receipt Accounting work area

C : You do not have the role to import purchase order information into Receipt Accounting.

D : All purchase order information is included in the Transfer Transactionsfrom Receiving to Costing process. There is no separate process

E : Purchase order information should not be imported into Receipt Accounting.

Answer: D

Question 5

Assume today is November 15, 2015, and you are getting ready to implement new standard costs for the newyear Your cost planning scenario has a January 1, 2016 effective date. An item has three work definitions. Onework definition has an October l, 2015effective date. A second work definition has a December 1, 2015effective date. A third work definition has a January 2, 2016 effective date.How will the application select the work definition?

Options :

A : It will use the work definition with the January 2, 2016effective date.

B : Depending on the selection criteria, it will use the work definition with the December l, 2015 effective date or the work definition with the October l, 2015 effective date.

C : It must always use the work definition with the October 1, 2015 effective date.

D : You will receive an error because the application will detect that all three are plausible, and it will be unable to determine which one to choose.

Answer: B

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