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C_TB1200_10 Questions and Answers

Question # 1

A new intern startedto work in the office and the intern's manager would like to review any manual journal entry the intern creates before it is posted to the journal entries file. What feature supports this procedure?

A.

Journal Templates

B.

Journal Vouchers

C.

Approval Process

D.

Document Drafts

Question # 2

What is a requirement for a profit and loss account?

A.

The balance has to be carried forward from one fiscal year to the next fiscal year.

B.

It must be set as a cash account.

C.

The balance has to becleared at the end of each fiscal year.

D.

It must be located in the first three drawers of the chart of accounts.

Question # 3

Which valuation method calculates item cost by dividing the total inventory on-hand by the quantity in stock?

A.

FIFO

B.

Serial/Batch valuation

C.

Standard cost valuation

D.

Moving average

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