Question 1

Your customer has a state tax of 20% and a city tax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.What will be the resulting tax and invoice amounts for your tax invoice?

Options :

A : state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.

B : state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.

C : state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.

D : state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.

E : state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.

Answer: A

Question 2

What is the impact on transactions of changing the billing cycle for a customer or group of customers?

Options :

A : The billing cycle does not have any impact on new transactions.

B : Existing transactions with no activity retain the old billing cycle.

C : Existing transactions with activity adapt the new billing cycle.

D : New transactions after this change inherit the new billing cycle.

Answer: D

Question 3

Which is NOT a valid Infotile in the Accounts Receivables Work Area?

Options :

A : Unidentified Receipts

B : Lockbox Exceptions

C : Receipt Batches

D : Unapplied Receipts

E : Unapplied Credits

Answer: A

Question 4

You are utilizing the ''Upload Customer From Spreadsheet'' option. What information on the Customer Worksheet must be unique for each customer record?

Options :

A : Customer Number, Customer Account Number, Customer Site Number

B : Customer Name, Customer Billing Address, Customer Bank Account

C : Customer Name, Customer Account Number, Customer Site Number

D : Customer Number, Customer Billing Address, Customer Bank Account

Answer: A

Question 5

Which three benefits do intercompany reconciliation reports provide to an accountant?

Options :

A : Comparing receivables and payables account balances and identifying discrepancies.

B : Displaying intercompany receivables and payables balancing lines.

C : Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.

D : Displaying clearing company balancing lines.

Answer: A,B,C