Online Access Free ERP-Consultant Practice Test

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.

• A.2, 1, 3
• B.3, 1, 2
• C.1, 3, 2
• D.2, 3, 1

Which fields on a Customer record should a user set up to use Electronic Funds Transfer (EFT) for customer payments? (Choose two.)

• A.Payment File Format
• B.Direct Debit
• C.Bank Name
• D.Routing Number
• E.Bank Account Payment Description

Which statement is true when creating Statistical Accounts?

• A.The Unit Type field can be changed after saving a Statistical Account.
• B.The Include Children checkbox is greyed out when selecting Subsidiaries for a Statistical Account.
• C.A Statistical Account is debit positive and not excluded from foreign currency translation.
• D.Currency-specific fields do not display when creating a Statistical Account.

A company that uses FIFO costing method is going live.
Which transaction best captures the time-based nature of inventory cost?

• A.Adjust Inventory
• B.Item Fulfillment
• C.Inventory Allocation
• D.Adjust Inventory Worksheet

A company wants to confirm that they can track inventory.
Which segment allows tracking product categories at the inventory level?

• A.Location
• B.Custom Segment
• C.Class
• D.Department