Knowledge quiz

It’s time to put what you’ve learned to the test, get 6 questions right to pass this unit.

Why might a user require authorization to access the data of the Balance Validation Results?

Choose the correct answer.

To view details specific to certain data, such as a Cost Center or Company Code.

To change the data of the Balance Validation Results.

To prevent other users from deleting data.

Which of the following Master Data Hierarchies can be used in Balance Validation Rules?

Choose the correct answer.

Cost Center Hierarchy

Profit Center Hierarchy

G/L Account Hierarchy

All of the above

What is a prerequisite for custom fields to be used in Balance Validation?

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Custom fields must have been created in one of the following business contexts: Accounting: Market Segment, Accounting: Coding Block, Accounting: Journal Entry Item.

Custom fields must have been created in any business context.

Custom fields must be older than one year.

Which of the following are steps in the Balance Validation process? (3 correct answers)

There are three correct answers.

Implementing Financial Regulation

Viewing Validation Results

Executing Validation Groups

Defining Validation Rules and Groups

What can be utilized to create hierarchies for Balance Validation Rules?

Choose the correct answer.

Only General Ledger Accounts

Only Master Data Hierarchies

Only Financial Statement Versions

General Ledger Accounts or the Master Data Hierarchies

What does a user require to process tasks in the Balance Validation functionality?

Choose the correct answer.

Authorizations from the System Analyst or System Security personnel.

Cost Center and Company Code information.

A Balance Validation result.

What is the purpose of Balance Validation process?

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To identify and promote successful employees.

To validate a company's market share.

To ensure the accuracy of financial balances during the period-end close process.

To increase the company's profits.