Financial Setup

Knowledge quiz

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

1.

Which of the following definitions are available in the Advanced G/L account determination method?

There are three correct answers.
2.

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

Choose the correct answer.
3.

The Balance Sheet Accounts reflect the monitory value of the company

Choose the correct answer.
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.

Any rule you define in the advanced form will have a higher priority than the G/L Account Determination window.

Choose the correct answer.
7.

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

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.

Foreign currency transactions are recorded simultaneously in the local currency.

Choose the correct answer.
10.

In which drawer in the chart of accounts can we find the account payables?

Choose the correct answer.
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