Question 1

You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

Options :

A : Two tree versions were not defined

B : An Audit process needs to be successfully performed before a tree version can be set to Active

C : Accounting Configuration was not submitted

D : Chart of accounts was not deployed

Answer: B

Question 2

What are the two purposes of a secondary ledger? (Choose two.)

Options :

A : It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options

B : It should not be used when trying to meet local accounting requirements

C : It is used to main balances in a different currency only

D : It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting

E : It should only be used to main balances for processing performance

Answer: A,D

Question 3

You are reviewing the Intercompany Reconciliation report for the current period and notice that there is a difference for the period as indicated.What could be reason for this difference?

Options :

A : The transaction needs to be transferred to Payables and accounted in the UK ledger.

B : The transaction needs to be transferred to Payables and accounted in the US ledger.

C : The transaction needs to be transferred to Receivables and accounted in the UK ledger.

D : The transaction needs to be transferred to Receivables and accounted in the US ledger.

Answer: A

Question 4

You are reconciling your Payables and Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between the balances in the subledgers, subledger accounting, and general ledger. Which three factors are responsible for these out-of-balance situations?

Options :

A : Period Close processes, such as Revaluation, Translation, and Consolidation have not been performed yet.

B : There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.

C : All subledger transactions have been entered but do not have complete accounting.

D : Intercompany transactions have not been fully processed.

E : Subledger transactions have been accounted and transferred to General Ledger but have not been posted.

Answer: A,D,E

Question 5

Which AMX builder method is most effective in routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal?

Options :

A : Supervisory level approval

B : Cost center based approval

C : Dynamic Approval Groups

D : Management Chain approval

E : Approval Groups

Answer: A

Higher Test Marks with Free Online 1Z0-1054-26 Exam Practice

Buying Options: