151. If you purchase 10 of product X at $10 and then purchase 10 of product X at $20, which statements below would be true using the different valuation methods?
a) The total value for the inventory of product X is $300 if you are using the moving average valuation method.
b) The moving average cost of product X would be $30
c) Using FIFO method of inventory valuation, the current unit cost of sales for product X would be $10
d) You cannot determine the standard cost for this item with only the information given above.
e) Using the moving average valuation method, the current unit cost of sales for product X would be $15.
Answer: A, C, D & E
152. What affects the receipts quantity on the MRP recommendation?
b) Sales Orders
c) Purchase Orders
d) Production orders for the finished goods item.
e) Min. Inventory levels
Answer: C & D
153. Chad of Blue Steel Inc. created a purchase order for steel tubes. After creating the order, he realized that he had ordered too large a quantity from his vendor. What advice would you give to Chad?
a) Since the purchase order cannot be changed or canceled in the system, he should create an Advance Goods Return for the excess quantity that he will receive from the purchase order.
b) Since he cannot change the purchase order, he should contact the vendor and ask them to send a smaller amount than is shown on the purchase order, then change the status on the purchase order to close once the smaller amount is received.
c) He can reduce the quantity on the purchase order as longs as it has not yet been shipped and contact his vendor to let him/her know of the change.
d) Since the purchase order cannot be changed, he must cancel and re-create the purchase order for the correct amount.
Answer: c) He can reduce the quantity on the purchase order as longs as it has not yet been shipped and contact his vendor to let him/her know of the change.
154. Which statements are true about the opportunities pipeline report?
a) This report allows you to analyze open opportunities for their chance of success.
b) The opportunities pipeline report contains both won and lost opportunities.
c) The dynamic graph format displays only open sales opportunities.
d) The report can be filtered by sales employee and by stage.
e) Opportunities can be displayed in a row format or as a segment in a graphic.
Answer: A, D & E
155. How does SAP Business One calculate the stock available in the warehouse?
a) Committed - Ordered
b) In Stock - Committed
c) Committed + In Stock + Ordered
d) In Stock + Ordered - Committed
Answer: d) In Stock + Ordered - Committed
156. How many concurrent same user access is possible on a SAP Business One company database?
Answer: b) 2
157. There are 2 types of income statement and they are ...?
a) Contingency & Capital
b) Revenue & Capital
c) Assets & Liability
d) Revenue & Expenses
Answer: d) Revenue & Expenses
158. How many levels are there in the Chart of Accounts?
Answer: a) 5
159. Ted opens a Business Partner master record and notices that the Account Balance field contains asterisks instead of having a numeric value. What has happened?
a) Ted does not have general authorization to view Business Partner account balances.
b) Ted is not the owner of this master data record.
c) The account balance field is negative; therefore Ted must determine the reason why.
d) Ted is not defined as a sales employee; therefore he has no access to account balances.
Answer: a) Ted does not have general authorization to view Business Partner account balances
160. In the Business Partner payment terms, you set the Due Date, which is calculated based on the posting date, starting from the beginning of the month plus 31 days. You create an A/R Invoice on May 10. Which Due Date will appear on the invoice?
a) May 31
b) July 31
c) July 1
d) June 30
e) June 10
Answer: c) July 1