You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?

• A.Needs Revalidation
• B.Not Validated
• C.Not Required
• D.Imported
• E.Validated

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You have invoices with distributions across primary balancing segments that represent different companies.
What feature should you use if you want the system to automatically balance your invoice's liability amount across the same balancing segments on the invoice distributions?

• A.Payable's Automatic Offset
• B.Intercompany Balancing
• C.Subledger Accounting's Account Rules
• D.Suspense Accounts
• E.Payables' Allow Reconciliation Accounting

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Which two statements are true about the Invoice Validation process? (Choose two.)

• A.opens the relevant accounting period
• B.validates project information
• C.updates supplier balances
• D.creates tax lines and distributions
• E.creates accounting entries in draft

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You are using the Payable's Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to Mar 31st.
Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?

• A.On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000
• B.On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and thenOn Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for
  4,000 and Credit Prepared Expense for 4,000On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000
• C.On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Jan 10th, Debit Rental Expense for 12,000 and Credit Cash for 12,000
• D.On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability 12,000

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Identify three statements that indicate the purpose of Functional Setup Manager.

• A.It allows you to centrally manage the close processes across subledgers and ledgers.
• B.it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status.
• C.It automatically marks the completion status of tasks as Completed once they have been completed.
• D.It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted.
• E.It provides a central place to access and perform all of the setup steps across the applications.

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