26 - The Purchasing Manager wants to use a transaction history report in General Ledger to analyze purchases. When are transactions moved to history in General Ledger? A. Transactions are moved to history at the time the year-end closing process is run in General Ledger B. Transactions are moved to history at the time transactions are applied C. Transactions are moved to history at the time transactions are posted in General Ledger D. Transactions are moved to history at the time fiscal periods are closed at the end of each month.
27- You have a colleague named Tom in the company. He is responsible for reconciling checkbooks and ensuring that cash account balances in General Ledger also reconcile to checkbook balances. The reconcile process/routine in Bank Reconciliation is used to reconcile which of the following? A. In Bank Reconciliation, the reconcile process/routine is used to reconcile the General Ledger cash account and bank statement balance B. In Bank Reconciliation, the reconcile process/routine is used to reconcile the checkbook balance and the bank statement balance C. In Bank Reconciliation, the reconcile process/routine is used to reconcile the balance of all General Ledger cash accounts and the bank statement balance D. In Bank Reconciliation, the reconcile process/routine is used to reconcile the checkbook balance and the General Ledger cash account.
28- Luxware is a vendor which sent an invoice along with commodities. The invoice is entered and posted in Payables Management. Some commodities is dertimined later to be damaged. The company manager requires you to work out a way to prevent this invoice from being paid. Meanwhile, he requires that other invoices are still allowed to be paid. So what action should you perform to achieve this goal? A. Void the disputed invoice from the ABC Company. B. The Company vendor should be inactivated. C. The individual invoice should be placed on hold. D. The ABC Company vendor should be placed on hold.
29- Since you are the technical support, your company manager has a question for you. The options below are statements regarding scheduled payments in Receivables Management. You have to identify the incorrect statements. So what is your answer? A. Only one scheduled payment transaction can exist for each customer. B. Scheduled payments must be entered in a batch. C. Interest can be calculated using simple or compound methods. D. Before creating the scheduled payment, an invoice must be posted.
30- Since you are the technical support, your company manager has a question for you. In Receivables Management, what character is used to identify voided transactions in inquiry windows and on reports? A. # B. * C. + D. .
31- Since you are the technical support, your company manager has a question for you. In Bank Reconciliation, which deposit type provides the capability to remove receipts without affecting the checkbook balance? A. Deposit Without Receipts B. Transfer Receipts C. Deposit With Receipts D. Clear Unused Receipts.
32- The head of account is preparing to complete year-end procedures in General Ledger. Of the following options, what are unavailable for closing to retained earnings at fiscal year-end? A. Close to a single retained earnings account B. Close to a divisional retained earnings account. C. Close to a single fixed allocation account which allows retained earnings to be split between a group of posting accounts. D. Close to a single variable allocation account which allows retained earnings to be split between a group of posting accounts.
33- Your company manager has a question for you. Where should the transaction be entered if it is necessary to record both a vendor invoice and payment simultaneously? A. Payables Manual Payment Entry B. Computer Checks C. Payables Transaction Entry D. Apply Payables Documents.
34- In order to estimate what the depreciation expense is going to be for a specific asset in the next five years, what process can be run? A. Projection can be run. B. Retirement can be run. C. Estimation can be run D. Depreciation can be run.
35- Your company manager has a question for you. In what order do the accounts for a Payables Management transaction default? A. Looks first to the vendor record, then to Posting Accounts Setup B. Looks first to the vendor class, then to Posting Accounts Setup C. Looks first to the vendor record, then to the vendor class, and then to Posting Accounts Setup D. Looks first to the vendor class, then to the vendor record, then to Posting Accounts Setup.
36- Your company managers intend to use Microsoft Excel to create initial budgets. How should these department budgets be entered into Microsoft Dynamics GP? A. Enter the budgets by using a budget method in Budget Maintenance B. Using the Excel Based Budgeting Wizard to import the budgets. C. Posting budget transactions in Transaction Entry to enter the budgets. D. Manually enter the amounts into each period for the accounts by using the Single Account Budget Maintenance window.
37- The Purchasing Manager of your company has noticed that numerous data entry errors have been made in the first few months when Payables Management is used. In most cases, these errors were duplicate entry of invoices. The manager asks you to work out a way to avoid this problem. So, what is your answer? A. Choose o for the allow Duplicate Invoices Per Vendor option in Payables Management Setup. B. The verride Voucher Number should be cleared at Transaction Entry option in Payables Management Setup. C. A document number for all transactions should be entered in Payables Management. D. Choose the 'Allow Single Invoice Numbers Only' check box for vendors in Vendor Maintenance.
37- The Purchasing Manager of your company has noticed that numerous data entry errors have been made in the first few months when Payables Management is used. In most cases, these errors were duplicate entry of invoices. The manager asks you to work out a way to avoid this problem. So, what is your answer? A. Choose o for the allow Duplicate Invoices Per Vendor option in Payables Management Setup. B. The verride Voucher Number should be cleared at Transaction Entry option in Payables Management Setup. C. A document number for all transactions should be entered in Payables Management. D. Choose the 'Allow Single Invoice Numbers Only' check box for vendors in Vendor Maintenance.
38- The options below are statements about unit accounts. Which statement is not correct? A. Debits and credits need to equal when posting an entry for unit accounts. B. A debit increases the balance of a unit account. C. Unit accounts can be used to help calculate sales per employee. D. Unit accounts track non-financial information.
39- Your company CIO has a question for you. If 'Post through General Ledger' is chosen in Posting Setup for Payables Management transactions, what happens to a voucher that is posted in a batch in Payables Management? A. The transaction updates Payables Management and is sent to a General Ledger batch where it needs to be posted. B. The transaction only updates Payables Management. C. The transaction is sent to General Ledger without updating Payables Management. D. After the transaction is posted in Payables Management, it updates Payables Management and General Ledger.
40- Your company CIO has a question for you.For an account in Microsoft Dynamics GP, what is the maximum account length and maximum number of segments? A. The maximum account length is 20 and the maximum number of segments is 10 B. The maximum account length is 25 and the maximum number of segments is 5 C. The maximum account length is 40 and the maximum number of segments is 15 D. The maximum account length is 50 and the maximum number of segments is 20 E. The maximum account length is 66 and the maximum number of segments is 10.
41- The options below are statements about a vendor that is placed on hold. Since you are the technical support, the company manager wants you to identify the one that is correct. So, what is your answer? A. No type of transactions can be posted for the vendor on hold. B. No invoice transactions can be posted for the vendor on hold. C. No payment transactions can be posted to the vendor on hold. D. No type of transactions can be entered for the vendor on hold.
42- Your company sent a prepayment for a special order that is not yet invoiced. The payment is deposited at the bank. Since you are the technical support, your company manager has a question for you. How should this payment be recorded in Receivables Management? A. The payment should be entered and posted to other invoices that were previously posted to ABC Company. B. The payment should be entered and posted in the Receivables Posted Transaction Maintenance window. C. The payment should be entered and posted in Cash Receipts Entry and leave it unapplied. D. The payment should be entered and posted after the special order is invoiced in Receivables Transaction Entry.
43- Your company manager has a question for you. Look at the following options, which one is a depreciation sensitive field? A. Original Life is a depreciation sensitive field B. Asset ID is a depreciation sensitive field C. Quantity is a depreciation sensitive field D. Acquisition Date is a depreciation sensitive field.
44- In Account Maintenance, what is the function of the Posting Type field? A. It determines which accounts are closed to retained earnings during the year-end close process. B. It determines which quick financial statement the account appears on. C. It determines which accounts maintain history after the year-end close process. D. It determines which accounts post in summary to the General Ledger from other modules.
45- Your company manager has a question for you. In Payables Management, what windows can be used to print computer checks? (Choose more than one) A. Payables Manual Payment Entry can be used to print computer checks B. Print Checks can be used to print computer checks. C. Apply Documents can be used to print computer checks. D. Payables Transaction Entry can be used to print computer checks.
Your company CIO has a question for you. If a batch of transactions is posted in summary from a subsidiary ledger in Microsoft Dynamics GP, which data is used as the posting date in General Ledger? A. Batch Date is used as the posting date in General Ledger. B. Transaction Date is used as the posting date in General Ledger C. User Date is used as the posting date in General Ledger. D. Due Date is used as the posting date in General Ledger.
47- Your company CIO has a question for you. At the time that Advanced Lookups Setup is being used, which of the follow tasks are provided? A. Limit on the items appearing in the lookup window B. The default sort should be changed for a lookup window C. A SmartList favorite should be chosen for a lookup option D. Additional keys should be set up to sort on within lookup windows.
48- Your company manager has a question for you. In Payables Management, when are invoice documents moved to the history table? A. Invoices are moved to the history table at the time that the purchasing series has been closed in the Fiscal Periods Setup window. B. Invoices are moved to the history table at the time that an invoice is posted C. Invoices are moved to the history table at the time that an invoice is posted and fully applied D. Invoices are moved to the history table at the time that the fiscal year-end close process is performed in Payables Management.
49- Your company manager has a question for you. He wants to know the requirements of voiding an invoice in Receivables Management? Since you are the technical support, he asks for your answer. So what do you reply to him? (Choose more than one) A. The invoice must be partially applied to a payment or credit memo. B. The invoice must be unapplied. C. The invoice must still be in the open table D. Transaction history must be maintained for that custome.
50- Your company manager has a question for you. If the posting to History option in General Ledger Setup is chosen, which statements are not correct? (Choose more than one) A. a transaction can be posted to any historical year set up in Fiscal Periods Setup. B. Manual adjustments need to be made to the current year retained earnings account after posting to history. C. It allows adjusting entries to be entered into General Ledger for the previous year, even though the year has been closed. D. Two entries are posted when posting to a historical year; one to update the beginning balances for the current year and one to update the historical balances.
51- Your company manager has a question for you. Of the tasks below, which one can be completed using the Mass Modify Chart of Accounts feature? A. The balances of a range of accounts can be moved to a new account range. B. A range of accounts can be inactivated. C. The Chart of Accounts can be copied to a new company. D. The posting type can be updated for a range of accounts.
52- You set up Receivables Management and chose the Compound Finance Charge option in Receivables Setup. What does this allow? A. This allows statements to be printed showing finance charges. B. This allows multiple finance charges to be entered for a customer. C. This allows double finance charge amounts for a customer in cases where documents are in the last aging bucket. D. This allows finance charging on a customer balance including unpaid previously assessed finance charges.
53- Since you are the technical support, your company manager has a question for you. When do cash receipts entered in Cash Receipts Entry in Receivables Management update the checkbook balance? A. At the time that the receipts are posted/deposited on a deposit in Bank Reconciliation B. At the time that the receipt clears the bank C. At the time that the receipts are posted in General Ledger D. At the time that the receipts are posted in Receivables Management.
54- The Luxware company is a customer that is placed on hold. Of the document types below, which can still be entered for the Luxware Company? A. Voucher can still be entered for the Luxware Company. B. Cash Receipt/payment can still be entered for the Luxware Company. C. Sales/Invoices can still be entered for the Luxware Company. D. Service/Repair can still be entered for the Luxware Company.
55- Your company manager has a question for you. In the event that a depreciation sensitive field is changed, what option should be chosen if the depreciation already taken on the asset should not be changed or modified? A. Retirement B. Reset Life C. Reset Year D. Recalculate.
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