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Microsoft MB4-536 Exam -

Free MB4-536 Sample Questions:

Q: 1 The Contract Type field in Project Maintenance is used for which of the following?
A. The field is informational only.
B. The AR Invoice Interface.
C. Allocation Processor
D. Project Budgeting
Answer: B

Q: 2 Identify the field most commonly used for selection when defining reports in Flexible Report Column Maintenance.
A. Flexible Key
B. Project
C. General Ledger Account
D. Account Category
Answer: D

Q: 3 Which of the following best describe how Project Charge Entry batches post when they are released?
A. Units and Amounts to Projects.
B. Debits and Credits to Projects.
C. Debits and Credits to the General Ledger.
D. Units and Amounts to Projects and Debits and Credits to the General Ledger.
Answer: A

Q: 4 Which of the following best describes the logic between Budget and EAC?
A. Budgets are fixed amounts and EAC is an adjustable amount; once Budgets are entered they cannot be changed.
B. Budget amounts and units are used in the Revenue Recognition process.
C. EAC amounts and units are revised budget amounts used in the Revenue Recognition process.
D. EAC amounts are used for project charge entries.
Answer: C

Q: 5 At what level(s) are Project Budgets and EACs created?
A. By General Ledger account.
B. At the Project level.
C. For an Account Category within a Task within a Project.
D. For a Task only within a Project.
Answer: C

Q: 6 A project is set up in October of 2006, and costs and billings are generated.
The Year-End Close process is run in Project Controller for 2006. If the Project Profitability Report is run in January of 2007, the PTD and YTD amounts are equal. What happened?
A. They did not close Project Controller Module in General Ledger for the Year.
B. The contract type was defined incorrectly in Project Maintenance. Selecting the correct contract type will change the PTD amounts.
C. There are no transactions for January 2007. Once transactions are entered, the PTD and YTD balances will be different.
D. The project is not set up to carry a balance forward at year-end. Check the box in Project Maintenance and re-run Year-End Close.
Answer: D

Q: 7 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

Q: 8 For any project related transaction to be eligible for transfer to a project via the Financial Transaction Transfer process the status must be?
A. Released
B. Posted
C. Balanced
D. In Process
Answer: A

Q: 9 What are the three levels of hierarchy in Project Controller transactions?
A. Contract, Project, Type
B. Customer, Project, Task
C. Project, Task, Account Category
D. Project, Account Category, Employee
Answer: C

Q: 10 A project is set up with a Revenue Recognition type of Completed Contract.
Assuming the project is 75% complete, the postings generated during the Revenue Recognition process will be:
A. a debit to Unbilled and a credit to Revenue.
B. a debit to Unbilled and a credit to Unbilled Revenue.
C. a debit to Unbilled and a credit to Deferred Revenue.
D. a debit to Deferred Revenue and a credit to Revenue.
Answer: C

Q: 11 If a user refers to projects as "jobs" and tasks as "cost codes" what Project Controller option can be used to change the default naming conventions?
A. Change the caption for 'Project' in Project Maintenance and change the caption for 'Task' in Task Maintenance.
B. Change the Caption for 'Project' and 'Task' in Flexible Key Maintenance.
C. Use a Code File to validate the 'Project' and 'Task' as 'Job' and 'Cost Code'.
D. Use 'Job' for each Project segment and 'Cost Code' for each Task segment in Flexible Key Maintenance.
Answer: B

Q: 12 Project Series requires what option for Multi-Company processing?
A. Multiple application databases and multiple system databases.
B. Multiple companies in one application database within one system database.
C. Only one application database with one company and one system database.
D. This is not possible.
Answer: B

Q: 13 The users would like to add a field to the Project Maintenance Additional Information screen that defines the type of cargo a ship is carrying. Each ship is set up as a project. What is the correct process for setting up a new field that validates against a user defined table?
A. Enter values in the Project Controller Setup screen for Code Type "CARGO" and make a project ID field visible.
B. Modify Flexible Key Maintenance to refer to the Code Type = CARGO.
C. Use Customization Manager to make a user field visible on the Project Maintenance screen so the users can enter the type of cargo.
D. Create a Code Type to store types of cargo, enter the different types of cargo in the Code File Maintenance screen, make a project ID Maintenance Field visible and validate it against the new Code Type.
Answer: D

Q: 14 When the Revenue Tab in Project Controller Setup is configured for Revenue Recognition to post to evenue how is the general ledger account selected during the posting process?
A. In the following order: First, from the Task Maintenance screen. If no account is defined, then from the Project Maintenance screen and lastly from the Project Controller Setup screen (Revenue Setup Tab).
B. From the project or task account in Percent Complete and Revenue Recognition Setup, depending on the setup options chosen. If none is defined there, then the Project Controller Revenue Setup Revenue GL Acct is used.
C. From the GL account that is linked to the Revenue Account Category.
D. Only from the Revenue Tab of Project Controller Setup.
Answer: B

Q: 15 An Accounts Payable voucher batch is entered and released in period 04-2007. If the current Period in Project Controller is 05-2007, what will occur during the Financial Transaction Transfer process?
A. The transaction will transfer if run for fiscal period 04-2007 and you have the box checked in Project Controller Setup to 'Allow Posting of a Financial Batch to a Prior Period'
B. Nothing, Prior Period entries cannot be selected in Financial Transaction Transfer.
C. The transaction will transfer into the current Project Controller period regardless of the period entered into Accounts Payable.
D. The transaction date will be used to copy the transaction into the appropriate Project Controller period.
Answer: A

Q: 16 The Project Net Profit screen displays which two types of Account Categories?
A. Asset and Liability
B. Revenue and Expense
C. Non-Accounting and Revenue
D. Asset and Revenue
Answer: B

Q: 17 The Revenue Recognition process is run in Final mode on May 25. On May 31, the Revenue Recognition process is run again before month end closing. If a project was 80% complete on May 25 and due to additional reclassification expenses posted to the project it is now 75% completed, what postings will be made by Revenue Recognition?
A. The 5% decrease will be posted to the project and general ledger.
B. Nothing: Revenue Recognition can only be run in Final mode once each period.
C. The original posting will be reversed and a new posting generated for both the project and general ledger.
D. The original posting will be deleted and a new posting generated for both the project and general ledger.
Answer: A

Q: 18 Given the following scenario: Revenue Recognition is calculated and posted at the Task level. The calculation is based on Amounts for All Expenses. The Budget is based on Contract Value. Which of the following must be true?
A. A task-level subaccount must be defined in the Task Maintenance screen.
B. A task-level revenue account must be defined in the Percent Complete and Revenue Recognition Setup screen.
C. The Budget Maintenance screen must contain task level EAC amounts for all expense Account Categories relevant to the project, as well as Contract Value.
D. The Budget Maintenance screen must contain task level EAC amounts for all expense Account Categories, as well as Revenue.
Answer: C

Q: 19 What is the primary function of the Default Task for System Postings?
A. It is used for project-related entries that were coded to a project but not a task.
B. The default task is used as a placeholder if tasks have yet been assigned to a project.
C. The default task is used when transferring AR invoices and payments.
D. The default task is used to track Billed to Date amounts.
Answer: C

Q: 20 By default, account categories sort in ascending alphabetical order in screens and on reports. How can the display order be changed?
A. By using the Code File 'SORT' to change the sort order
B. By assigning the Account Categories to a Task in Task Maintenance
C. By using the Sort Number field in Account Category Maintenance
D. The default sort order cannot be changed.
Answer: C

Q: 21 What validation options are available for Project and Task segments in Key Definition? Choose the 3 that apply.
A. No validation is available for individual segments.
B. Code Type
C. Field Class
D. Values
Answer: B, C, D

Q: 22 Project and Task fields can be divided into how many segments?
A. 10
B. 6
C. 8
D. 2
Answer: B

Q: 23 Which of the following is true of Account Categories?
A. Account Categories are assigned to customers.
B. Account Categories should always use the same numbering system as the General Ledger Chart of Accounts.
C. All General Ledger accounts must be linked to Account Categories.
D. Multiple GL Accounts can link to any one Account Category.
Answer: D

Q: 24 Transactions that make up Committed amounts on a project may consist of which of the following? Choose the 2 that apply.
A. Unposted Timecards
B. Unapplied Accounts Receivable Payments
C. Open Accounts Payable Vouchers
D. Purchase Orders
Answer: A, D

Q: 25 In which of the following scenarios would it be appropriate to create a new Code Type? Choose the 2 that apply.
A. A project user defined ID field must be limited to a user-defined list of values.
B. One segment of the project ID needs to be validated against a user defined table.
C. Only certain employees can charge their expenses to a specific project.
D. Only certain employees can charge their time to a specific project.
Answer: A, B

Q: 26 How is a Project pre-defined user ID Field activated?
A. By using Customization Manager to make the field visible
B. By defining the appropriate values for the field in Code File Maintenance
C. By selecting the appropriate ID field in ID Maintenance and making it visible
D. By selecting the ID fields to be made visible in Project Controller Setup
Answer: C

Q: 27 Identify multi-currency features that Project Management and Accounting modules offer. Choose all that apply. Choose the 3 that apply.
A. Multi-currency entry in Travel and Expense Report Entry
B. Foreign currency billing via Invoice and Adjustment Maintenance and Billing Entry by Percentage
C. Foreign currency billing via Construction Billing
D. Foreign currency billing via Scheduled Billings and Revenue Entry
Answer: A, B, D

Q: 28 How is the standard (default) percentage of completion for a project calculated?
A. Project to Date Expenses / Budgeted Expenses.
B. Project to Date Expenses / EAC Expenses.
C. Project to Date Revenue / Budgeted Revenue.
D. Project to Date Revenue / EAC Revenue.
Answer: B

Q: 29 In order to increment a project or task segment, the segment must be numeric and can increment based on which of the following?
A. a Code Type.
B. a system-wide counter.
C. either a Code Type or a system-wide counter.
D. any field in Project Maintenance.
Answer: C

Q: 30 Which of the following best describe what happens during the Financial Transaction Transfer (FTT) process?
A. Project-related transactions are copied to the General Ledger transaction table.
B. Project-related transactions are copied from their respective transaction tables to the project transaction table.
C. Customer and Vendor balances are copied to projects.
D. Only posted General Ledger transactions are copied to projects.
Answer: B

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