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NEW QUESTION 52
You need toset up a calendar for fiscal year Apr-XX to March-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What Calendar format should you choose?

A. PeriodB. YearC. FiscalD. Calendar

Answer: A

 

NEW QUESTION 53
Which three objectives must be considered when designing the chart of accounts? (Choose three.)

A. Consider implementing a single, global chart of accountsB. Limit the number of segments to those you need today to reduce data entryC. Effectively manage an organization's financial businessD. Try to use all 30 segments and 25 characters per segment because you cannot change it laterE. Anticipate growth and maintenance needs as organizational changes occur

Answer: A,C,E

 

NEW QUESTION 54
Budgetary control for account 5020 and 5021 has a budget of $90,000USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each. A Fund of $50,000 USD is available for account 5010 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year2013. Which statement is true?

A. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forwardB. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forwardC. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balancesD. If you have included 5020 and 5021 in the encumbrance rule, the budget balances $90,000 USD, obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.E. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.

Answer: B

 

NEW QUESTION 55
Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)

A. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types.B. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment values.ysC. You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.D. All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules.

Answer: A,D

 

NEW QUESTION 56
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