Knowledge quiz

It's time to put what you've learned to the test, get 8 right to pass this unit.

1.

The calculation of the exchange rate in an A/P Invoice is based on the document due date.

Choose the correct answer.
2.

What is a system currency?

Choose the correct answer.
3.

Which of these statements regarding the chart of accounts are true?

There are two correct answers.
4.

Your local currency is Euro. You have several customers located in the United States and their currency is USD. When you create marketing documents for these customers, you would like the system to automatically enter a price in USD. How can you define this in the system?

Choose the correct answer.
5.

What characterizes the balance sheet accounts?

There are two correct answers.
6.

The bookkeeping balance of the balance sheet account has to be cleared every year.

Choose the correct answer.
7.

You cannot change the Local or the System Currency once you have started posting transactions in the company.

Choose the correct answer.
8.

Once you choose to use the traditional default G/L account determination you cannot switch to the Advanced G/L account determination

Choose the correct answer.
9.

The accountant wants to define a set of default accounts according to business partner groups. Therefore, the company should use the advanced G/L account determination window

Choose the correct answer.
10.

Foreign currency transactions are recorded simultaneously in the local currency.

Choose the correct answer.

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