Online Access Free MB7-701 Practice Test

How do you prevent users from posting transactions into a prior accounting period?

• A.Populate the Allow Posting To field on the General Ledger Setup window.
• B.Check the Closed field in the relevant accounting period record.
• C.Check the Date Locked field in the relevant accounting period record.
• D.Populate the Allow Posting From field on the General Ledger Setup window.

What are the components of an account schedule?

• A.An analysis view name, a list of lines, and a defined list of G/L accounts
• B.A schedule name, a list of G/L accounts, and a column layout
• C.A schedule name, a list of lines, and a column layout
• D.An analysis view name, a defined list of G/L accounts, and a column layout

When creating purchase orders and purchase invoices, a company requires entering the order number, invoice number, vendor number, vendor order number, vendor invoice number, and item numbers.
You need to check the details related to a posted vendor's invoice by using the Navigate function. What should you do?

• A.On the Source Tab, enter the vendor number and vendor invoice number.
• B.On the Item Tracking Tab, select Vendor in the Business Contact Type field, and enter the item number.
• C.On the General Tab, select Vendor in the Business Contact Type field, and enter the vendor invoice number.
• D.On the External Tab, select Vendor in the Business Contact Type field, and enter the vendor invoice number.

You need to zoom in on the Item List page in the RoleTailored client so that you can view all available fields and their values at the same time.
What should you do?

• A.Right-click anywhere on the page and select Zoom
• B.Press CTRL+Z
• C.Expand the Table Fields FastTab on the About This Page window
• D.Press SHIFT+CTRL+Z

A company requires value added tax (VAT) for prepayments, and this is due when the invoice is paid. Which setup options should you use?

• A.Unrealized VAT Type in the VAT Posting Setup window set to Last (Fully Paid) and Prepayment Unrealized VAT on the General Ledger Setup window
• B.Unrealized VAT and Prepayment Unrealized VAT in the General Ledger Setup window
• C.Unrealized VAT in the General Ledger Setup window and the Reverse Charge VAT calculation type
• D.Unrealized VAT Type in the VAT Posting Setup window set to Last and Prepayment Unrealized VAT on the General Ledger Setup window