1. In a non-posting depreciation book, what financial periods can you specify?

Any financial periods

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2. The depreciation book keeps …

The list of available depreciation methods.

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3. The posting book is the book that …

Is used for creating the reports.

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4. Where can you view the total depreciation amounts accumulated in the depreciation
books to which a particular asset is assigned?

On the Reconciliation tab of the Fixed Assets form (FA303000)

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5. Before you start working with fixed assets, on the Fixed Assets Preferences form
(FA101000), you must specify which of the following accounts and subaccounts? (Select
all that apply.)

The FA Accrual account

The FA Accrual subaccount
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6. Where can you view the unreconciled cost of a particular fixed asset?

On the Reconciliation tab of the Fixed Assets form (FA303000)

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7. On the Depreciation History tab of the Fixed Assets form (FA303000), which actions can
you perform?

Depreciate the asset.

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8. On the Balance tab of the Fixed Assets form (FA303000), which of the following settings
can you specify?

The GL accounts to be used in transactions

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9. Select the correct statement about departments.

Departments are shared between branches.

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10. Where can you view the depreciation books to which a particular fixed asset can be
assigned?

On the Balance tab of the Fixed Assets form (FA303000)

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11. Suppose that you are creating a new fixed asset. The asset is assigned the
COMPUTERS type by default; the asset is tangible and depreciable. Select the correct
statement or statements.

Before the asset acquisition transaction is released, you can change the asset’s settings to make
it intangible.
Before the asset acquisition transaction is released, you can change the asset’s settings to make
it non-depreciable.
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12. In the system, how many fixed asset classes can you create?

Only one fixed asset class for a particular fixed asset type.
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13. When you are creating a new fixed asset by converting a purchase, … (select the
correct statements).

You can override the default Useful Life setting (that is specified for the class) if the acquisition
transaction is released.
You cannot override the default Useful Life setting (that is specified for the class) if the
acquisition transaction is not released.
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14. Which of the following is not a setting specified for a fixed asset class?

Asset type
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15. If a fixed asset is saved with the Active status, on the GL Accounts tab of the Fixed
Assets form (FA303000), which of the following settings can you specify?

You can change the Depreciation Expense, Proceeds, and Gain/Loss account-subaccount pairs
only.
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16. The salvage amount specified on the General Settings tab of the Fixed Assets form
(FA303000) for the asset …

Decreases the net value of the asset by the specified amount.

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17. Which of the following statements is true about creating a fixed asset on the Fixed
Assets form (FA303000)?

Most of the asset’s settings are copied from the specified fixed asset class.
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18. Select the correct statement or statements about creating a fixed asset manually.

You can override the asset type copied from the fixed asset class.
You can override the Tangible setting copied from the fixed asset class.
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19. If you disable auto-numbering for the numbering sequence that is specified in the
Asset Numbering Sequence box on the Fixed Assets Preferences form (FA101000) …

You cannot convert purchases to assets.

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20. When you are converting a purchase to an asset, select all of the settings you need to
specify on the Convert Purchases to Assets form (FA504500).

Department (to which the converted asset will belong)

Fixed Asset Class
Useful Life of the asset.
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21. The lower table on the Convert Purchases to Assets form (FA504500) displays which
of the following?

The list of the purchase transactions that can be converted to fixed assets
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22. If the quantity is specified in the GL entry associated with the purchase, the system
will convert this purchase into …

Multiple new assets.

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23. The upper table on the Convert Purchases to Assets form (FA504500) displays which
of the following?

The list of the purchase transactions that can be converted to fixed assets
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