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XYZ Inc. wants to ensure that no changes are made to unposted journals that come in from its subledgers. At which setup can you control this?

• A. Journal approval
• B. Ledgers
• C. Journal sources
• D. Journal categories

ABC Company in India exports raw materials to XYZ Company in the USA. There is an outstanding invoice of INR 90,000,000 to be paid in two months. The USD-to-INR rate when the transaction was completed was 45. Now the USD-to-INR rate has changed from 45 to 40. Jack, who is a treasury analyst at ABC Company, reviews the transactions and comes to a conclusion. Select two correct conclusions arrived upon by Jack. (Choose two.)

• A. ABC Company has a positive impact by this rate change.
• B. XYZ Company has a positive impact by this rate change.
• C. ABC Company is not impacted at all by this rate change.
• D. XYZ Company has a negative impact by this rate change.

The client's GL accountant comes to you with a problem. A journal cannot be posted because it has not been approved. The preparer cannot submit the journal for approval because the Approve button is disabled in the Enter Journals form and the supervisor has not received a notification requesting the approval. What could be the possible cause for this problem?

• A. The profile option GL: Allow Preparer Approval must be reset.
• B. One of the GL account code combinations in the journal is invalid.
• C. Authorization limits have not been defined properly and the GL period is closed.
• D. Budgetary control has been enabled for the set of books and funds have not been reserved for the journal.

You want an invoice to be due in four stages. What should you do when creating the invoice to accomplish this?

• A. Assign payment terms that have four discount periods defined.
• B. Assign an accounting rule with four schedules.
• C. Assign an invoicing rule with four schedules.
• D. Create four lines and assign different payment terms to each line.
• E. Assign payment terms that have four payment schedules.

Scott, the CFO at ABC Company in the USA, wants to present the annual income statement to the board of directors of the company. ABC Company engages in many exports and import activities and follows the policy to revalue all its transactions in foreign currency with the current market rates. Scott requests George, the head accountant of the company, to revalue all foreign currency transactions done during the year. Select two prerequisites that George must comply with to ensure that the revaluation is done as desired. (Choose two.)

• A. Define the weights for each currency used for doing transactions.
• B. Define accounts for realized gains and realized losses.
• C. Define a revaluation rate for each currency for each period or date for which the revaluation must be run.
• D. Define accounts for unrealized gains and unrealized losses.
• E. Define a batch under which the revaluation journals would be stored.