Question 29:
Which two rules determine whether a condition has been met for accounting rules?
Option's:
A. When the condition is met, the rule associated with that priority is used.
B. Priorities determine the order in which accounting rule conditions are examined.
C. The conditions are evaluated in the sequence they are defined in the accounting rule.
D. After all conditions are tested, the final resulting value is used.
E. Use parenthesis to control the order of the condition evaluation.
Answer: A & C
Question 30:
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
Question 31:
An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed. How do you get the journal line rule to calculate the gain or loss?
Option's:
A. Create a foreign reporting currency to track gain/loss.
B. Create a secondary ledger to track gain/loss.
C. Turn on the Subledger Gain or Loss Option.
D. Subledger Accounting is already set up to process it.
Answer: A
Question 32:
If the accounting method does not have an assigned chart of accounts (COA), which option is valid?
Option's:
A. The accounting method must have a mapping set to convert the accounts.
B. Accounting rules cannot override the accounting method.
C. The accounting method can be assigned to any ledger.
D. Any secondary ledger that uses the method cannot have a COA.
E. The accounting method may only be used by ledgers without a COA.
Answer: E
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