Question 1

Identify the steps for valuing an inventory item using the Standard Cost Costing method?

1. Rollup Standard Costs.

2. Enter Standard Cost at sublist level.

3. Revalue inventory and update Standard Costs.

Options :

A :

2, 3, 1

B : 3, 1, 2

C : 1, 3, 2

D : 2, 1, 3

Answer: D

Question 2

Which statement is true about Vendor Return Authorizations?

Options :

A : Returning fewer items than what was ordered is allowed.

B :

Once saved, the Vendor Return Authorization is recorded in the register, which is a posting account in the Chart of Accounts.

C : The status on a Vendor Return Authorization is always Pending Return.

D :

Once saved, increasing the quantity or changing the rate creates an improper GL impact and is not recommended.

Answer: A

Question 3

What is the purpose of Consolidated Exchange Rates? (Choose two.)

Options :

A : Consolidated Exchange Rates are used to set up Balance Sheet Accounts.

B :

Consolidated Exchange Rates ensure that currency amounts translate properly from child to parent subsidiaries.

C : Consolidated Exchange Rates are used for reporting purposes.

D : Consolidated Exchange Rates are used only when setting up transaction currencies.

E : Consolidated Exchange Rates are used for currency conversion.

Answer: B,C

Question 4

Which item types can Serialized Assembly have as a component? (Choose tree.)

Options :

A : Non-Inventory Item

B : Serialized Item

C : Kit/Package

D : Lot Numbered Item

E : Regular Assembly Item

Answer: B,D,E

Question 5

When creating Matrix Items, which field lists are used to populate the Matrix Item Name Template? (Choose two.)

Options :

A : Insert Item Attribute

B : Insert Matrix Option

C :

Insert Item Option

D :

Insert Item Properties

Answer: A,B