Dynamics Ax Financials Assessment

14 Questions | Total Attempts: 52

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Dynamics Ax Financials Assessment - Quiz

Dynamics AX Financial Assessment


Questions and Answers
  • 1. 
    A controller would like to assign a department 60-Purchase and cost center6010-Purchase when the accounts payable administrator creates vendor journals. Which of the following needs to be defined to restrict the available selections?
    • A. 

      Dimension proposal

    • B. 

      Dimension planning

    • C. 

      It can not be done

    • D. 

      Dimension set hierarchy

  • 2. 
    The currency rate is changed on the 1st of every month. On the 1st of March,the rate is changed from 390 to 400. On the 4th of March, an invoice with a date of February 28th is made. Which exchange rate does the system use?
    • A. 

      390

    • B. 

      400

    • C. 

      395 (the average of the two rates)

    • D. 

      The exchange rate must be specified manually.

  • 3. 
    Given the following information, which of the following happens when Invoice1 is settled?Date        Text                       Company Currency     USD01 Dec.    Invoice 1                 1000                        12031 Dec.    Unreal. exch. profit.                                20 020 Jan.     Payment                1005                        120
    • A. 

      A realized exchange loss adjustment of 15 is posted.

    • B. 

      Invoice 1 is settled 100% and the Customer has a balance of 15.

    • C. 

      Unrealized exchange adjustment of 20 is reversed and a realized exchange adjustment of 5 is posted.

    • D. 

      Unrealized exchange adjustment of 20 is reversed with 15 and no realized exchange adjustment is posted.

  • 4. 
    If you wanted to set up a sales tax value of 2.265% for Jefferson CountyFlorida, where do you do this?
    • A. 

      In the sales tax code form.

    • B. 

      In the sales tax group form.

    • C. 

      In the item sales tax group form.

    • D. 

      In the tax authority form.

  • 5. 
    You are setting up a new yearly budgeted revenue divided into months with a pre-determined percentage allocation. How do you do this?
    • A. 

      Use a period allocation key.

    • B. 

      From Budget select press the Setup button, then use Allocation terms.

    • C. 

      Run the periodic job Allocate revenue.

    • D. 

      From the revenue account in the Chart of Accounts, select the Budget button, add the yearly revenue and then use the Allocation button.

  • 6. 
    Which of the following happens when using the Generate payment function from the Payment journal in Accounts payable?
    • A. 

      A check is generated for all invoice lines in the journal.

    • B. 

      A payment file or document such as check is generated.

    • C. 

      A payment file is generated and automatically transferred to the bank or post office.

    • D. 

      A payment file is generated and automatically transferred to the bank or post office.

  • 7. 
    In a payment journal, which of the following is different about the lines if Post and transfer is selected instead of Post?
    • A. 

      The lines are only posted if the entire journal is OK.

    • B. 

      The lines are posted and transferred to the invoice journal.

    • C. 

      The lines are posted and transferred directly into the periodic journal.

    • D. 

      The lines that contain errors are transferred to a new journal.

  • 8. 
    Which of the following describes the use of the Settlement field on thevendor's Posting profile?
    • A. 

      To determine whether automatic settlement of the vendors is allowed.

    • B. 

      To determine whether the cash discount must be subtracted before settlement.

    • C. 

      To ensure that the lines appear automatically in the journal.

    • D. 

      To ensure that payments can be split before settlement.

  • 9. 
    Which of the following payment data can be modified within the EditPayment proposal form in the Payment Journal?(Choose All Applicable)
    • A. 

      Invoice date

    • B. 

      Due date

    • C. 

      Invoice currency

    • D. 

      Payment amount

  • 10. 
    Which of the following describes the differences in the Payment journal inAccounts Receivable compared to a General Journal? (Choose All Applicable)
    • A. 

      Customer invoices can only be settled in the Payment Journal.

    • B. 

      The account type is by default set to Customer.

    • C. 

      It is only possible to make inter-company entries in the General Journal.

    • D. 

      Generate payments can only be initiated from payment journals.

  • 11. 
    Which of the following is essential for printing a deposit slip?
    • A. 

      Mark the field Deposit slip in the AP invoice journal line.

    • B. 

      Mark the field Deposit slip in the AR payment journal line.

    • C. 

      Mark the field Deposit slip when creating the payment proposal.

    • D. 

      Mark the field Deposit slip on the open transaction edit form.

  • 12. 
    Which of the following describes how a payment schedule can be set up?
    • A. 

      Create fixed quantity of installments, fixed amount per installment or in a specified order and quantity.

    • B. 

      Create fixed amount per installment only.

    • C. 

      Create progressive or regressive installments.

    • D. 

      No setup is needed, the installments are calculated automatically based on the due date of the invoice.

  • 13. 
    Which of the following describes the use of free text invoices?
    • A. 

      Makes it possible to specify the item number on invoices and post to the General Ledger.

    • B. 

      Makes it possible to create an invoice without an item number.

    • C. 

      Makes it possible to create a customized invoice with free text for automated shipping information.

    • D. 

      Makes it possible to create an invoice with or without an item number.

  • 14. 
    Which of the following is the method used to set up fixed assets to linkaccounting information for the asset to tax information for the asset?
    • A. 

      You will create an asset group for accounting and an asset group for tax and set the type to link.

    • B. 

      You can set up depreciation books for tax purposes.

    • C. 

      You will set up a value model for accounting and set the posting layer to balance.

    • D. 

      You can not tie accounting transactions to tax transactions.

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