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Microsoft MB4-217 Exam -

Free MB4-217 Sample Questions:

Q: 1 Which ledger type is used to track the number of employees associated with each payroll expense account?
A. Budget
B. Statistical
C. Actual
D. Reporting Currency
Answer: B

Q: 2 In which periods will transactions update account balances when the Post Transactions process is run?
A. Current period
B. Future periods
C. Prior periods
D. Only periods that have not had transactions posted yet.
Answer: A, C

Q: 3 Which "Account Types" are recognized by Solomon?
A. Asset, Liability, Revenue only
B. Asset, Liability, Income, Expense
C. Asset, Payable, Receivable, Expense
D. Any account type can be assigned
Answer: B

Q: 4 General Ledger transaction and account history detail is being retained for one year. General Ledger was closed for the year in period 12-2005 and the Delete Detail option was checked. Which of the following functions may still be performed?
A. Print a Trial Balance Report for period 01-2005.
B. Inquire on account balances for period 06-2005.
C. Enter a batch to post to period 12-2005.
D. Enter a batch to post to period 12-2003.
Answer: A, B, C

Q: 5 What determines the fiscal period for posting a transaction?
A. Current fiscal period value from the GL Setup screen
B. Transaction Date
C. Current business date
D. Period to Post in the data entry screen
Answer: D

Q: 6 A company wishes to allocate Help Desk expenses for the current period to each department based on the number of employees. The number of employees in each department is entered in a statistical ledger. Which allocation method is used?
A. Ledger Period-to-Date
B. Actual Period-to-date
C. Unit Ratio
D. Actual Year-to-Date
Answer: A

Q: 7 Which fiscal periods can be entered as the Period to Post in the Journal transactions screen?
A. Any Future Period
B. Any period in the current fiscal year
C. Any prior period in any year.
D. Any prior period as far back as the General Ledger history retention settings.
Answer: A, B, D

Q: 8 Which Ledger ID is the default in the Journal Transaction screen?
A. There is not a default for this field.
B. Budget Ledger
C. Statistical Ledger
D. The "Default Ledger ID" defined in GL Setup.
Answer: D

Q: 9 Which of the following functions would save data entry time if a user inputs a similar journal entry each month?
A. Manual or Recurring batch
B. Consolidation batch
C. Allocation Group.
D. Adjustment batch
Answer: A

Q: 10 What is the best report to use to verify that FRx financial statements balance to the General Ledger?
A. GL Edit Report
B. GL Batch Register Report
C. GL Transactions Report - Unposted format
D. Trial Balance
Answer: D

Q: 11 When is the "Adjustment" batch type used?
A. Correct a batch of transactions is entered in error
B. Link a corrected batch to an original batch
C. Enter statistical transactions.
D. Make a one-sided journal entry
Answer: D

Q: 12 How do you change the Default Ledger ID specified in the GL Setup screen?
A. Use Initialize Mode
B. The field can be changed at any time.
C. Once set, this field cannot be changed.
D. Use Customization Manager
Answer: C

Q: 13 A company wishes to segment their subaccount as follows: 1. Company Segment, 2. Location, 3. Department, 4. Event, 5. Region, 6. Project, 7. Sales Type. How is this accomplished?
A. Define the Subaccount as seven Segments in Flexkey Definition.
B. Recommend the company not use Solomon as the subaccount does not accommodate this scenario.
C. Recommend the client use three segments as seven is just too many.
D. Define one of the segments as part of the natural account and create a subaccount with six segments.
Answer: A

Q: 14 How many ledgers can be affected by a single Journal Transactions batch?
A. One
B. One ledger per transaction line
C. One ledger per transaction line, as long as debits equal credits for each ledger in the batch
D. Unlimited
Answer: A

Q: 15 Which scenarios would require a new Budget distribution with assigned percentages?
A. Seasonal variations for employee expenses.
B. Equally distribute expenses for office supplies.
C. Monthly variation for utilities.
D. Distribute an expense based on the actual balances for the prior year.
Answer: A, C

Q: 16 Which are proper procedures to correct a transaction batch that was released and posted to period 07-2005 instead of 08-2005?
A. Delete the batch in the Journal Transactions screen.
B. Use Initialize Mode to edit and "re-post" the batch.
C. Enter a new batch to reverse the effect of the transactions in period 07-2005.
D. Enter a new batch with the appropriate transactions for period 08-2005.
Answer: C, D

Q: 17 When can the status of a Subaccount be set to inactive?
A. When it is not defined as a default in Setup or Maintenance screens.
B. When all history is deleted
C. When all transactions are posted
D. Subaccounts cannot be made inactive
Answer: A

Q: 18 Which batch types can a user create in the Journal Transactions screen?
A. Allocation
B. Manual
C. Recurring
D. Non-recurring
Answer: B, C, D

Q: 19 Which Allocation Method is used to allocate office supplies posted to an administrative account to each department based on the amount of office supply expense in each departmental subaccount?
A. Actual Period-to-Date
B. Ledger-Period-to-Date
C. Percent
D. Unit Ratio
Answer: A

Q: 20 Which is the greatest number of "Budget" type ledgers can you create in Solomon?
A. One.
B. Unlimited
C. Only two per fiscal year
D. Only one per fiscal year
Answer: B

Q: 21 What are the correct settings for the Fiscal Year and Calendar Year options in GL Setup for a company when the current fiscal year is 2004 and the fiscal year began on July 1, 2003?
A. Fiscal Year is 2003, Beg. Calendar Year is checked.
B. Fiscal Year is 2003, End Calendar Year is checked.
C. Fiscal Year is 2004, Beg. Calendar Year is checked.
D. Fiscal Year is 2004, End Calendar Year is checked.
Answer: D

Q: 22 Where are Account Classes defined?
A. The user creates the list in Account Class Maintenance
B. The Account Classes are pre-defined in the system.
C. Customization Manager is required to define the list of Account Classes.
D. Account Classes are defined in FRx.
Answer: A

Q: 23 Which of the following are included in each detail line in the Journal Transactions screen?
A. Company ID
B. Fiscal Period
C. Account/Subaccount
D. Description
Answer: A, C, D

Q: 24 What happens when the Generate Consolidation File process is executed?
A. A transaction file is generated containing the detail transactions for all accounts/subaccounts.
B. A transaction file is generated containing one transaction line for each account/subaccount
combination that has activity for the period.
C. The account balances are reversed out of the source database and balances are transferred to the destination database.
D. The transactions in the source database are summarized and compressed.
Answer: B

Q: 25 Which of the following must be done if the "Valid Combos Required" box is checked in the Shared Information FlexKey Definition screen but the "Validate" option for each segment is not checked?
A. Set up valid combinations in Account/Subaccount Maintenance.
B. Set up segment ID's in Flexkey Table Maintenance.
C. Set up subaccounts in Subaccount Maintenance.
D. Check the Validate Account/Subaccount option in the GL Setup screen.
Answer: C

Q: 26 When a discount is taken, what account is the discount amount posted to?
A. The Discount Account defined in the AP Setup screen.
B. The Discount Account defined for the Vendor.
C. The Discount Account defined in GL Setup
D. The Discount Account entered on the detail line of the voucher.
Answer: A

Q: 27 Which Vendor View Default options in Vendor Maintenance display a voucher that was entered and paid in the current period?
A. All Documents
B. Open Documents Only
C. Current plus Open Documents
D. Only vouchers can be viewed in this screen, the check is not available.
Answer: A, C

Q: 28 How much is the batch total for a batch entered in Voucher and Adjustment Entry that contains a voucher for $10, a Debit Adjustment for $5 and a Credit Adjustment for $2?
A. Positive $3.00
B. Positive $7.00
C. Positive $13.00
D. Positive $17.00
Answer: D

Q: 29 The client needs to be able to run reports showing 5 years of Accounts Payable period balance history and 2 years of transaction level history. What settings and/or procedures would you implement for the client to insure that this will happen?
A. In the AP Setup screen, set the Years to Retain Vendor History = 5 and the Periods to Retain
Transactions = 2.
B. In the AP Setup screen, set the Years to Retain Vendor History = 5 and the Periods to Retain
Transactions = 24.
C. This situation cannot be accomplished, year to date history and transactions must be retained for the same amount of time.
D. Regardless of detail retention settings, all history is always available, when Delete Detail is run the old information is archived not actually deleted.
Answer: B

Q: 30 What transactions are created in the General Ledger for a vendor invoice for telephone expense when it is released in Voucher and Adjustment Entry?
A. Debit to the Telephone Expense account
B. Credit to the Telephone Expense account
C. Debit to the Vendor AP account
D. Credit to the Vendor AP account
Answer: A, D

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