Microsoft Business Solutions Solomon 6.0 Inventory and Order Processing Set 4

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Microsoft Business Solutions Solomon 6.0 Inventory and Order Processing Set 4

What is the value of the Purchse Order's status field for orders that are ompleted?that prints on many reports and displays in the F3 or possible value lookup windows?

COMP ✘ C ✘ D ✘ M ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

Which of the following is a function of the Period Closed field on the Purchase Order screen?

This field indicates the fiscal period in which the purchase order is automatically set to Cancelled during the Delete Detail process. For the purchase orders where this field is less than or equal to the period being closed and a the statusis Open Order, the closing process sets the status to Cancelled. This field indicates that no more receipts against the purchase order are expected and the period whenthe status was set to Completed. This field is populated if the user manually sets the purchase order to Completed and saves the change.

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

When entering landed costs in the Landed Cost Allocation Entry screen accessed from the Voucher and Adjustments screen, only landed costs codes with which Application Methods can be used?

Both Cost Quantity Voucher

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

When is the status of a blanket order automatically set to Completed (M)?

Receipts totaling the full amount of all line items on the blanket order have been released. ✘ Once the sum of the quantities on all regular orders created from the blanket order equals or exceedsthe quantities on all the corresponding line items on the blanket order. ✘ The purchase order is set to Completed as part of the delete detail process if the promise date on all theitems is less than the current date. ✘ When the Purchasing module is closed for the year, all standard orders that are not in an Open Orderstatus are automatically set to Completed. ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

When booking landed costs in Solomon, which inventory valuation methods can result in the creation of an adjustment batch in Inventory.

Average User Specified LIFO Standard

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

When landed costs are entered on a purchase order receipt, which items on the document are landed costs applied against?

None, landed costs can only be entered in the Voucher and Adjustment entry screen. ✘ Only the items for which the user specifically associates with the landed costs. ✘ Landed costs are allocated to all items on the Receipt/Invoice Entry document. ✘ Landed costs are allocated to all items on the receipt with a Receipt For type of Goods for Inventory,Goods for Sales Order, Non-Inventory Goods, or Goods for Project. ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

When is the status of a standard order automtatically set to Completed (M)?

Receipts totaling the full amount of all line items on the standard order have been released. ✘ Once the sum of the quantities on all regular orders created from the standard order equals or exceedsthe quantities on all the corresponding line items on the standard order. ✘ When the Purchasing module is closed for the year, all regular orders that are not in an Open Orderstatus are automatically set to Completed. ✘ Solomon never automatically sets standard orders to Completed. ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

When is the status of a regular purchase order set to Completed (M)?

Receipts totaling the full amount of all line items on the purchase order have been released. During the delete detail process, if the promise date on all the items is less than the current businessdate. When the Purchasing module is closed for the year, all regular orders that are not in an Open Orderstatus are automatically set to Completed. Total receipts for all line items on the purchase order fulfill the Receipt Qty Min % setting and theReceipt Acceptance Action is either Accept Quantity and No Warning or Accept Quantity and Warning.

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

If a landed cost is associated with a voucher line that has a LIFO inventory item, and the quantity remaining in inventory for the item is less than the receipt quantity, then how are GL accounts and inventory affected by the landed cost entries?

No accounts are affected and there is no affect on inventory. ✘ An inventory adjustment is created to revalue inventory for the items still in inventory, the landed costvariance account is debited and the landed cost clearing account is credited for the other items. ✘ The inventory account is debited for the full amount of the landed cost and the landed cost expenseaccount is credited, no inventory adjustments are created. ✘ No affect on the General Ledger, but an inventory adjustment batch is created to increase the value ofthe remaining items to reflect the total landed costs. ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

10.

When a voucher that has line items that originated from a PO receipt is released, by default, what general ledger accounts are affected by these line items?

The AP account on the voucher is credited. The AP Accrual account defined in the PO Setup screen is debited. The Inventory Account defined for the item in IN Setup screen is debited. The AP Accrual account defined in the PO Setup screen is credited.

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

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Microsoft Business Solutions Solomon 6.0 Inventory and Order Processing Set 4

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