Finance

Finance Mastery Quiz

Test your knowledge of finance concepts with our comprehensive quiz! With 29 challenging questions, you'll explore various topics related to budgeting, asset management, and financial regulations.

Multiple-choice and checkbox questions
Covering key areas in finance
Great for students, professionals, or anyone interested in finance

29 Questions7 MinutesCreated by CalculatingFinance42

Which rappresents the process that ensures the organization policies, procedures, and requirements are met while implementing the budget

Budget planinng

Budget control

Budget entry

Which section of budget helps register the budget line items in Dynamics 365 Finance and maps the line items with general ledger accounts.

Budget planinng

Budget control

Budget entry

Is the optional step that validates the financial transactions in Dynamics 365 Finance based on the registered budget lines.

Budget planinng

Budget control

Budget entry

Which feature can create an integrated workflow to store payment method information, import credit card transactions, and track the money that employees spend. You can also define expense policies and automate the reimbursement of travel expenses.

Expense management

Assets leasing

Regulatory features

This functionality is enabled based on the primary address of the active legal entity. Is is meant to support new or changed country-specific or region-specific legislation.

Expense management

Assets leasing

Regulatory features

This module can capture and process the lease details and generate journal entries throughout the lifecycle of the lease, from initial recognition, to monthly journal entries, to impairment and termination of the lease.

Expense management

Assets leasing

Regulatory features

Users can access data only for the company that they are currently signed in to and have security access for the roles they belong to

True

False

They are used on country-specific or region-specific report layouts and the Sales tax payment by code report to print sales tax amounts for a settlement period that is summarized for each reporting code

Sales tax reporting codes

Disbursment journal

Global journal

Budget plan

Multiple choices - Cost accounting is a form of managerial accounting that aims to capture a company's total cost of production by assessing :

Variable costs of each step of production

Fixed costs such as lease expense

Per diems

Policies

You can use it to move between legal entities without switching the legal entity. It increases the productivity of general ledger accountants who work across all legal entities.

Global General Journal

Process allocation journal

Remittance journal

General journal

You use this journal to create a payment from a customer or a promissory note to a vendor, through your organization's bank.

Global General Journal

Process allocation journal

Remittance journal

General journal

Multiple choices - Select the two types of financial dimensions

Custom Dimension

Entity-backed-dimension

Legal Dimension

Budget Dimension

You can use this feature to specify the companies that the dimension should be suspended for, the owner, and the period when the dimension is active.

Legal entity ovverides

Translation

Custom dimension

Entity-backed-dimension

Which is the period that doesn't accept transactions in a closing sheet

Closing period

Regular period

Opening period

What feature you can use to deposit checks, credit card notes, and cash into a bank account.

Deposit slip

Bill of exchange

Promissory notes

Checks

You can cancel the payment if you have already reconciilied a deposit slip in the bank statement

True

False

How are defined the assets that a company depletes in the typical course of business over the next year or business cycle, whichever is shorter.

Fixed assets

Current assets

Short assets

Variable assets

They are a type of assets that a company owns and uses in the daily operations of the company and are not intended for resale to customers. The useful lives of these assets span multiple years.

Fixed assets

Current assets

Short assets

Variable assets

Multiple choices - Which of the following can be defined as fixed assets

Account receivable

Inventory

Machines

Copyrights

You use this budget tool to estimate future inventory demand

Demand forecast

Fixed assets budget

Project budget

Workforce Budget

This budget tool includes detailed budget cost component planning for positions, compensation groups, and so on.

Demand forecast

Fixed assets budget

Project budget

Workforce Budget

This budget capability can include details about the planned hours, expenses, fees, and items

Demand forecast

Fixed assets budget

Project budget

Workforce Budget

Multiple choices - A Zero-based budgeting consists of:

Allocating resources efficiently because it is based on needs and benefits

Helping to detect inflated budgets.

Managers justify only increases over the previous year's budget

The budget is stable, and change is gradual.

Multiple choices - The historical budgeting methodology uses practices like:

Allocating resources efficiently because it is based on needs and benefits

Helping to detect inflated budgets.

Uses a budget prepared by using a previous period's budget or actual performance as a base

Only increments over the last year's budeget is justified

You can use this budget methodology as a method of ensuring that enough budget funds are available for planned or actual purchases

Basic budgeting

Budget control

Budget entry

Budget planning

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