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| Section | Weight | Objectives |
|---|---|---|
| Procure to Payment Process | 20% | - Overview of Procure to Payment flow - Cash reconciliation - Accounts Payable taxes - Invoices and payments - Expenses and reimbursement |
| Budget to Report Process | 20% | - Period close procedures - Financial reporting and analysis - Budgeting and forecasting - Transaction capture and processing |
| Asset Acquisition to Retirement Process | 20% | - Asset lifecycle overview - Depreciation and adjustments - Retirement and disposal - Acquisition and addition - Transfers and reclassifications |
| Invoice to Cash Process | 20% | - Statements and collections - Tax handling in AR - Receipts and applications - Overview of Invoice to Cash flow - Accounts Receivable transactions |
| Accounting Transformation Process | 20% | - Transfer to General Ledger - Subledger Accounting overview - Transaction accounting creation - Reconciliation and period close |
1. Which four statements are true about creating assets from Payable Invoice lines by using the Create Mass Additions process? (Choose four.)
A) The "Track as Asset" check box must be selected for the invoice distribution lines.
B) Payable Invoice must be transferred to General Ledger.
C) Payable Invoice must be validated and accounted.
D) Invoice Lines must be charged to an Asset Account.
E) Invoice Lines must be charged to a Revenue Account.
2. Easy Solutions INC has decided to set up a meals expense policy and you have been given the responsibility to define the policy. Identify the correct sequence of steps that should be per-formed to define the meals expense policy? (Choose the best Answer.)
A) Associating the Meals Expense Policy with an Expense Type > Setting up Policy Violations > Setting up a Meals Policy > Associating the Meals Expense Policy with an Expense Type
B) Setting up Policy Violations > Setting up a Meals Policy > Completing the Meals Rate Spreadsheet > Associating the Meals Expense Policy with an Expense Type
C) Completing the Meals Rate Spreadsheet > Setting up Policy Violations > Setting up a Meals Policy > Associating the Meals Expense Policy with an Expendim Type
D) Setting up a Meals Policy > Setting up Policy Violations > Completing the Meals Rate Spreadsheet > Associating the Meals Expense Policy with an Expense Type
3. Your organization follows the integrated invoice imaging solution to scan and process sup-plier invoices. Steve is a Payables clerk and his job is to regularly review the invoices created from an invoice image that has invalid or missing dat a. In which status can these invoices be found? (Choose the best Answer.)
A) Needs Revalidation
B) Incomplete
C) Validated
D) Not Validated
4. Glenn Systems owns a luxury car and they want to restrict the amount of depreciation that should be charged to this asset in a particular period. Which two types of depreciation ceiling can they use to achieve this? (Choose two.)
A) Depreciation Rate Ceiling
B) Depreciation Period Ceiling
C) Depreciation Cost Ceiling
D) Depreciation Expense Ceiling
5. Your organization has a requirement to ensure that the expense reports are reviewed on a regular basis to comply with its reimbursement policies. Which job role would you recommend for a person who is authorized to review and identify the compliance issues with the submitted expense reports? (Choose the best Answer.)
A) Procurement Agent
B) Expense Auditor
C) Accounts Payables Specialist
D) Expense Manager
Solutions:
| Question # 1 Answer: A,B,C,D | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: C,D | Question # 5 Answer: B |
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