Question 70:
Your client originally used Quick Setup to configure Cost Accounting However, after reviewing their costing policies, they realize that they want to cost some of their lots differently then others What must they do to accomplish this?
Option's:
A. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
B. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
C. They must create their valuation units manually.
D. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.
Answer: B
Answer Explanation: They cannot change their current configuration; data generated by Quick Setup cannot be changed so cost of some of their lots cannot be changed or different.
Question 71:
Assume today is November 15, 2015, and you are getting ready to implement new standard costs for the new year Your cost planning scenario has a January 1, 2016 effective date. An item has three work definitions. One work definition has an October l, 2015 effective date.
A second work definition has a December 1, 2015 effective date. A third work definition has a January 2, 2016 effective date. How will the application select the work definition?
Option's:
A. It will use the work definition with the January 2, 2016 effective 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: D
Answer Explanation: To select the work definition by Application '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'.
Question 72:
If the accounting method on the Subledger Accounting method page has an assigned chart of accounts (COA), which two types of Journal entry rule sets can be used?
Option's:
A. Rule sets assigned to a secondary ledger with a different COA
B. Rule sets that have a mapping set to convert the accounts
C. Rule sets not associated with any chart of accounts
D. Rule sets where the accounting rules override the method rule set E. Rule sets that use the same chart of accounts
Answer: A & D
Answer Explanation: Two Journal entry rules we can use and that is 'Rule sets assigned to a secondary ledger with a different COA' & 'Rule sets where the accounting rules override the method rule set E. Rule sets that use the same chart of accounts'.
Question 73:
Identify two characteristics of a cost profile ?
Option's:
A. It is used for calculating the estimated cost of manufactured items under different scenarios.
B. It is used for Receipt Accounting.
C. It is where you define your Cost Accounting policies.
D. It is where you define which cost method you want to use for the cost component to cost element mapping.
Answer: B & C
Answer Explanation: Two Popular Characteristics of Cost Profile is 'It is used for Receipt Accounting' & 'It is where you define your Cost Accounting policies'.
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