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Microsoft MB4-218 Exam - Cheat-Test.com

Free MB4-218 Sample Questions:

1.What is the difference between separating the Premium Portion of Overtime and not separating, assuming everything posts to projects?
A:Premium is separated, labor cost will post using the Labor Expense and Premium Account Categories.
B:Premium is separated only base labor cost will post.
C:Premium is not separated, the Overtime 1 and Overtime 2 Account Categories will be used to post labor cost factored for
Overtime 1 and 2 (inclusive of base pay in OT account categories).
D:Premium is not separated, base pay will post using the Overtime 1 and Overtime 2 Account Categories.
Answer: A, C

2.What are the type of entries are made for Billing and Revenue Schedule released entries?
A: The Billing Schedule creates invoice line items and revenue is posted when the invoice posts; the Revenue Schedule creates invoice line items, but the revenue posts when transactions are released through Scheduled Billing Release.
B: The Billing Schedule creates invoice line items; the Revenue Schedule creates journal transactions.
C: The Billing Schedule creates invoice line items; the Revenue Schedule creates draft line items.
D: The Billing Schedule creates invoice line items that can be reviewed and modified; the Revenue Schedule invoice line items that cannot be changed.
Answer: B

3.When is Invoice Review & Approval required?
A: It required before an invoice can be printed in Final Mode.
B: It required before an invoice can be Posted.
C: It only required if Billing Information Maintenance has been set up to require approval for the project.
D: It optional by invoice.
Answer: C

4.In order to stop using an override percentage and resume using the system calculated percentage of completion, which option will work in the Percent Complete and Revenue Recognition Setup?
A: Clear out the Percent Complete field.
B: Clear out the Revision Date field.
C: Change the Percent Complete field to "0.00" and change the Revision Date to the current date.
D: Change the Percent Complete field to "0.00" and clear out the Revision Date.
Answer: D

5.With a new installation, what payment methods are available in Time & Expense for projects?
A:Company Paid
B:Employee Paid.
C:Only those that have been defined in Code File Maintenance in code type EPM
D:Company paid methods, such as Company Check and Company Travel Account
Answer: B, C

6.Select all that applies for the purpose of the Transaction Date in Allocation Processor?
A: It is informational only, although required.
B: It is used as the transaction date for the General Ledger batch.
C: It is used as the transaction date for any allocation postings that are summarized or full detail is not checked in Allocation Method Setup.
D: It is used as a cutoff date to process only transactions with a date up to and through the transaction date.
Answer: C

7.When selecting an expense type account in any of the time entry screens, the PV (F3) lookup displays only those General Ledger accounts that:
A: were defined for the selected project in Project Maintenance.
B: are defined in Code File Maintenance for the Code Type LABC.
C: are linked to an Account Category in Chart of Accounts Maintenance.
D: are set up in Chart of Accounts Maintenance.
Answer: C

8.Which of the following best describes EAC?
A: A revised budget amount for the period or project.
B: A remaining budget amount for the period or project.
C: Contract changes for the project.
D: Estimated cost overruns for the project.
Answer: A

9.A schedule (Billing or Revenue) can have additional periodic line items added automatically by what periodical basis?
A: For each month, quarter or year.
B: For each month.
C: For each week, month or quarter.
D: On an annual basis only.
Answer: C

10.What are the type of entries are made for Billing and Revenue Schedule released entries?
A: The Billing Schedule creates invoice line items and revenue is posted when the invoice posts; the Revenue Schedule creates invoice line items, but the revenue posts when transactions are released through Scheduled Billing Release.
B: The Billing Schedule creates invoice line items; the Revenue Schedule creates journal transactions.
C: The Billing Schedule creates invoice line items; the Revenue Schedule creates draft line items.
D: The Billing Schedule creates invoice line items that can be reviewed and modified; the Revenue Schedule invoice line items that cannot be changed.
Answer: B


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