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NEW QUESTION 38
What is the required date format used to import accounting transactions to Accounting Hub Cloud?
- A. YYYY-MM-DD
- B. The user can customize the date format
- C. MM-DD-YYYY
- D. DD-MON-YYYY
Answer: A
NEW QUESTION 39
‘Insurances for Homes’ company provide home insuranceservice. They have in-house built system that processes home insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the journal entries.
Insurance premiumIs to be recognized as income across the coverage period of the insurance policy. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?
- A. Reversal and Recognition
- B. Offsets and Recognition
- C. Multiperiod and Recognition
- D. Deferral and Recognition
Answer: C
NEW QUESTION 40
What is NOT included in the minimum required accounting attribute assignments?
- A. Accounting Date
- B. Distribution Type
- C. First Distribution Identifier
- D. Second Distribution Identifier
Answer: D
NEW QUESTION 41
Which component of the Accounting Method is used to store additional source information about transactions and is also useful for reconciliation of accounting to source systems, as well as reporting?
- A. Conditions
- B. Journal Line Rules
- C. Supporting References
- D. Description Rules
Answer: C
NEW QUESTION 42
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