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Exam1pass Easiest way to pass IT exams Exam1pass Help You Pass Any IT Exam http://www.exam1pass.com Exam : MBS MB3-529 Title : GP 10.0 Inventory & Order Processing Version : Demo Exam1pass Easiest way to pass IT exams Exam1pass Help You Pass Any IT Exam http://www.exam1pass.com 1. Inventory Control allows for tracking of "expired lots". What are the methods that may be used to track expired lots? Choose the 2 that apply. A. Receipt Date B. Expiration Date C. Posting Date D. User Date Answer: AB 2. Which inventory report will give you details for each inventory item along with the total value of your inventory? A. Inventory Valuation report B. Inventory Stock Status report C. Inventory Aging report D. Inventory Balances report Answer: B 3. Upon entering the Item Maintenance window, the list price and currency decimal fields will be disabled when which of the following situations exist? A. The item type is Kit. B. The price method is not defined as % of List Price. C. The item is a marked as a serial item D. Multicurrency is a registered module. Answer: D 4. What is the purpose of "defining an account segment" in Inventory Conrol? A. It can be used to represent an inventory site B. It can be used to post items C. It can be used to transferr items from one site to another D. It can be used to delete items Answer: A Exam1pass Easiest way to pass IT exams Exam1pass Help You Pass Any IT Exam http://www.exam1pass.com 5. When the results of the physical count are processed using the stock count functionality, quantities are adjusted in Inventory and dollar amounts are adjusted in General Ledger. Which automatic posting accounts are used for the General Ledger Choose the 2 that apply. A. Inventory Offset B. Inventory C. Variance D. Cost of Goods Sold Answer: BC 6. What GP module(s) integrate with the Inventory Control Module? Choose the 2 that apply. A. Sales Order Processing B. Fixed Assets C. Receivables Management D. General Ledger Answer: AD 7. What determines if an item on a stock count can be processed? A. If the item is counted B. If the item is captured C. If the item is verified D. If the item is allocated Answer: C 8. How does an adjustment made to an item cost in the Inventory Adjust Costs window affect Inventory and General Ledger? A. Updates the item cost in Inventory and posts an adjustment to General Ledger B. Updates the item cost in Inventory, but will not post an adjustment to General Ledger C. Does not update the item cost in Inventory, but creates a adjustment batch in Inventory to manually post. D. Does not update the item cost in Inventory, but will post an adjustment to update General Ledge amount. Answer: B Exam1pass Easiest way to pass IT exams Exam1pass Help You Pass Any IT Exam http://www.exam1pass.com 9. The Inventory Control module allows for in-transit delivery of items. In order to keep track of these deliveries there are statuses associated with each delivery. What status description describes when the items are in route to the destination site? A. Picked B. Packed C. Shipped D. Transferred Answer: C 10. A bin number can be assigned to which of the following? A. Specific site IDs B. The "All" site ID C. Specific Lots D. Unassigned site Ids Answer: A 11. Which of the following is true regarding repeating batches in Inventory? A. Inventory doesn't allow recurring batches, but allows repeating transactions. B. A batch can be defined as recurring. The items remain in the batch, but the quantities on the items zero out after posting. C. A batch can be defined as recurring. The items and their quantities remain in the batch for the next time to post. D. Inventory doesn't allow recurring batches or transactions. Answer: B 12. Which of the following module(s) must be registered in order to utilize In-Transit Transfer Entry? Choose the 2 that apply. A. Inventory B. Sales Order Processing C. General Ledger Exam1pass Easiest way to pass IT exams Exam1pass Help You Pass Any IT Exam http://www.exam1pass.com D. Purchase Order Processing Answer: AD 13. When happens when a stock count schedule is started? Choose the 3 that apply. A. A stock count form can be printed to aid in the stock count. B. Users are prevented from entering any transactions that affect the items quantity on hand C. The quantities counted can be entered in the Stock Count Entry window. D. A "snapshot" of the items quantities is taken. Users can still enter and post transactions that affect items quantity on hand Answer: ACD 14. When entering a transfer transaction, which characteristic of the default unit cost is true? A. It will default with the unit cost if the item is set up to "default with unit cost" B. Always defaults with current cost or standard cost (dependent on valuation method) and can be changed C. Always defaults with the current cost or standard cost (dependent on valuation method) and cannot be changed D. Never defaults. No cost is associated with the transfer transaction because the item isn't being sold. Answer: C 15. Where does the system store the value for the average cost of an item when the item is set up to use the Average Perpetual method? A. The system stores it as the Standard Cost for that item B. The system stores it as the Average Cost for that item C. The system stores it as the List Price for that item D. The system stores it as the Current Cost for that item Answer: D 16. The In-Transit Transfer Entry window can be used to complete which of the following tasks? Choose the 3 that apply. Exam1pass Easiest way to pass IT exams Exam1pass Help You Pass Any IT Exam http://www.exam1pass.com A. Track the dates when parts were requested and ordered B. Access Internet tracking pages for shipping services C. Automatically transfer inventory from the 'From Site' to the 'Via Site' to the 'To Site' D. Reprint a packing slip Answer: ABD 17. How should detailed beginning balance information be entered for inventory items? A. In Item Quantities Maintenance B. As a item transaction entry C. As a stock count entry D. As a transfer entry Answer: B 18. The distribution posting accounts for Inventory transactions default from where? A. First from the item class, then from the item, finally from Posting Account Setup B. First from the item, then from Posting Account Setup C. First from the item, then from the item class, finally from Posting Account Setup D. First from the customer, then from the item, finally from Posting Account Setup Answer: B 19. Which of the following options must be selected in order to post an inventory batch to General Ledger? Choose the 2 that apply. A. "Post to General Ledger" in Posting Setup for Inventory Series must be marked. B. The fiscal period must be open for the Inventory Series for the User Date the transaction is posted C. "Allow Transaction Posting" in Posting Setup for Inventory Series must be marked. D. "Post to General Ledger" in the Inventory Batch Entry must be marked Answer: AD 20. The Quantity Available for an inventory item equals A. Quantity on hand less quantity allocated Exam1pass Easiest way to pass IT exams Exam1pass Help You Pass Any IT Exam http://www.exam1pass.com B. Quantity on hand less quantity in transit C. Quantity on hand plus quantity on order D. Quantity on hand plus quantity returned Answer: A
