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Volume: 49 Questions
Question No: 1 You are the accounts payable manage for your company. You and the vendor agree that defective items will be returned with a reference to the original purchase order. You need to create a vendor credit note. What are three methods that can be used? Each correct answer presents part at vie solution.
A. Copy the original purchase invoice.
B. Create a purchase order with the purchase type blanket order.
C. Create a purchase order with the purchase type journal.
D. Create a purchase order with the purchase type returned order.
E. Create a purchase order line for a negative quantity.
Answer: CDE
Question No: 2 You are training a new employee They need to Know the items that are required fen posting an invoice register. What are the two required items? Each correct answer presents part of the solution.
A. Number allocation at posting
B. Vendor account number
C. Transaction text
D. Vendor invoice number
Answer: BD
Question No: 3 You are the purchasing agent for your company. You need to create a request for quotation (RFQ) for a product that is not in the item drop-down list. Which type of line item should you create?
A. Category
B. Open
C. Solicitation
D. Item
Answer: C
Question No: 4 You are working with a vendor who supplies you with apparel and spotting good products. You are negotiating a new purchase agreement with the vendor. The agreement terms you have arranged with the vendor are for a 3 percent discount on all of the sporting good products when the order volume over the next month is at least 50.000 USD Which commitment type should you use?
A. product quantity
B. product value
C. product category value
D. value
Answer: B
Question No: 5 You are the purchasing administrator for your company. You need to create a purchasing policy. Which two policy rules should Be selected to manage employee access to specific categories in the procurement category hierarchy and to define rules that control the requisition creation process? Each answer presents part of the solution.
A. Category access policy rule
B. Replenishment category access policy rule
C. Requisition purpose rule
D. Purchase requisition control rule
You need to categorize the responses you receive form the vendors. What should you set up?
A. Purchase agreement classification
B. Result view
C. Reason codes
D. Vendor reply status.
Answer: A
Question No: 9 Your company receives a shipment of not-stocked items from your supplier. You need to receive the items into inventory. What should you do?
A. Register the item and create a product receipt.
B. Create a stock movement journal for the item.
C. Register the item and create an item arrival journal.
D. Create a receipts list form the purchase order.
Answer: C
Question No: 10 A match in discrepancy exceeds a tolerance percentage or amount and match variance icons are displayed in the Vendor invoice form. What are the three types of matching that can be performed in this scenario? Each correct answer presents part of the solution.
A. two-way matching
B. three-way matching
C. cash discount matching
D. terms of payment matching
Answer: C
Question No: 11 You are the accounts payable manager for you company. You want to create an invoice but you do not need the approval process. Which method allows you to post as soon as you record the invoice from the vendor?
A. Voucher template
B. Invoice journal
C. Invoice register
D. Periodic journal
Answer: A
Question No: 12 You create a purchase requisition and add requisition lines. What is the status of the purchase requisition before submitting it to the workflow?
A. In review
B. In process
C. Draft
D. Approved
Answer: A
Question No: 13 You are the controller at Contoso, Ltd. You have configured the chart of accounts for the company and included two main accounts that should be used for posting vendor account balances. One is used for regular external vendor accounts, and the other is used for intercompany vendor accounts. You need to configure the system to use these two main accounts. What should you do?
A. Create a vendor positing profile.
