Fact Basics # Part 1
HiWelcome to FACT online quiz. You will have 20 minutes to answer 20 easy questions. All the questions are multiple choice type. Questions will appear one by one. There is no option to go back to see the previous question. Wish you all the best!Go ahead and take the quiz. . . . Please enter your full name.
- 1.TERMS Code in FACT Account/ Preferences/ System Control/ Sales/Purchase - Invoice Terms can be
- A.
Only alphabets
- B.
Only numbers
- C.
Both
- D.
It could be any character including special characters
- 2.The Number of Invoice Terms that may be defined in FACT Account/ Preferences/ System Control/ Sales/Purchase - Invoice Terms to the maximum
- A.
20
- B.
15
- C.
30
- D.
30 & above
- 3.Data “folder” initials can have
- A.
Only Numbers
- B.
Only Alphabets
- C.
Both (A& B)
- D.
It could be any character including special characters
- 4.It is possible to set the Quantity and Rate Precision as
- A.
Quantity – 3 decimal, Rate – 3 Decimal
- B.
Quantity – 4 decimal, Rate – 4 Decimal
- C.
Quantity – 2 decimal, Rate – 2 Decimal
- D.
All of above
- 5.Identify the wrong combination
- A.
Product Code and Document Class Code – both are 15 characters
- B.
Product Code and Document Class Code – both have the IMPORT facility in Master
- C.
Product Code and Document Class Code – both has the MASS Delete option
- D.
Product Code and Document Class – both can be Active or Dormant
- 6.A negative check for product balances is not possible in FACT for back dated entries
- A.
True
- B.
False
- 7.It is possible to create a TEMPLATE for Debit/ Credit Notes
- A.
True
- B.
False
- 8.It is possible to activate Batchwise Inventory middle of the Accounting Year
- A.
True
- B.
False
- 9.Batchwise inventory cannot be activated if there is negative stock for the product
- A.
True
- B.
False
- 10.Maximum 9999 numbers of Cash/ Bank can be defined/ set in FACT
- A.
True
- B.
False
- 11.The Alt GL Code defined thru Masters / Chart of Accounts / General Ledger is shown on the following reports
- A.
Trial Balance – Normal
- B.
Trial Balance – Date To Date
- C.
Trial Balance – Groupwise
- D.
All
- 12.The Valuation Techniques available through Product Masters are
- A.
FIFO , Average
- B.
LIFO, Rated
- C.
All of these
- 13.The Reverse DB-CR button is available in
- A.
Voucher - One Db/Cr
- B.
Voucher - Many Db/Cr
- C.
None of the above
- 14.Project Segment Number is defined through
- A.
Masters / Document Class / Codes
- B.
Masters / Document Class / Picture
- C.
Masters / General Ledger Codes
- 15.Contra voucher should be
- A.
Receipt Only
- B.
Payment Only
- C.
Both of above
- 16.Identify the right combination
- A.
Auto Calculated Amount and Many Db/Cr Voucher
- B.
Auto Distributed Amount and Customers / Vendor - Receipt/ Payment
- C.
None of the above
- 17.Serial No Tracking in Sales & Purchases is activated from the following page in system controls
- A.
Sales
- B.
Purchases
- C.
None of the above
- 18.Opening Cash/Bank Balances are entered through
- A.
Masters / Opening Balances / Cash / Bank Books
- B.
Masters / Opening Balances / General Ledger Codes
- C.
Masters / Opening Balances / Sub ledger journals
- 19.Activate Memorandum Entries is Activated/Ticked to get access to enter Inventory Memos
- A.
True
- B.
False
- 20.It is possible to insert a line/ another product in Sale Order by using
- A.
Insert button
- B.
Alt+ Insert button
- C.
Ctrl+insert button
- D.
Alt +I
- E.
CTrl+I
Questions: 10 | Attempts: 45 | Last updated: Jan 23, 2013
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