5. 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.
Answer: A
6. You have several departments set up and need to run a financial statement for each one. How do you run
them?
A. The only way would be to create a financial statement for each department and run them separately.
B. Go to General Ledger, Reports, Transactions, Periodic, Financial statement under the dimension specifications
click the Line checkbox when running the statements.
C. Go to General Ledger, Reports, Transactions, Periodic, Financial statement, under the focuses and change Main
or Secondary focus when running the statements.
D. Go to General Ledger, Reports, Transactions, Periodic, Financial statement, click the Select button when
running the statements and leave the criteria field blank to get all departments.
Answer: C
7. Which of the following is the result of selecting the checkbox Locked in Journal under the General tab of the
Chart of Accounts?
A. It would close an account in the journal and transfer balances to the electronic closing sheet.
B. It prevents posting on all accounts in the journal.
C. It only allows new debit transactions to be posted.
D. It prevents posting on an account in the journal.
Answer: D
8. Your company wants to generate a number of sequentially numbered checks in the bank module. Which of the
following is a requirement to allow sequentially numbered checks?
A. Set up a number sequence on the check layout.
B. Select Automatic check numbering in the Parameters.
C. Create a Check group and define the number sequence.
D. Select Fixed in the check numbering method.
Answer: D
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