QUESTION 8

1. You want to select the default closing account in general ledger options but it is not listed when you click the finder. What is the reason?

   		You added the account but chose the wrong account type
   		You did not add the account to the chart of accounts
   		All the above
   		None of the above

QUESTION 9

1. How is the Accounts Payable account affected by an adjustment?

   		A debit to the G/L account results in a credit to the Accounts Payable account
   		A credit to the G/L account results in a debit to the Accounts Payable account
   		none of the above
   		All of the above

QUESTION 10

1. Before activating the Accounts Payable and Accounts Receivable you must first:

   		You must add the Account Sets
   		Activate the Bank and Tax services
   		Activate the Inventory and Sales Order module

QUESTION 11

1. After posting current year invoices in the Accounts Payable module, a General Ledger batch was automatically created. What would you do with this batch?

   		Do nothing with the batch in the General Ledger
   		Post the batch in the General Ledger
   		Delete the batch in General Ledger

QUESTION 12

1. You posted a batch in the General Ledger and an Error batch was generated. What is the problem?

   		The batch is out of balance
   		You posted a transaction with a date that is not in the current fiscal year
   		All of the above
   		None of the above

QUESTION 13

1. What is the purpose of setting up distribution codes?

   		Distribution Codes are optional; they do not have to be set up
   		Distribution codes are linked to General Ledger accounts
   		Codes are generally easier to remember than the General Ledger accounts
   		All of the above

QUESTION 14

1. The default Transaction Types for Accounts Receivable are:

   		Prepayment, Unapplied Cash, Miscellaneous Payments and Apply Documents
   		Prepayment, Unapplied Cash, Miscellaneous Receipts and Apply Documents
   		Prepayment, Unapplied Cash, Credit Note and Apply Documents

QUESTION 15

1. Distribution sets are:

   		A group of source codes
   		Used to add Account Sets
   		Groups of distribution codes