Page 56 - UNANET GOVCON: CLOSING A FISCAL PERIOD

APPENDIX A: ANSWER KEY

LESSON 1 ANALYZE FINANCIAL REPORTS

1. Which system area needs to be configured prior to any financial transactions being
processed?
a) Budget Profiles - This is an incorrect response because Budget Profiles are
not required
b) Customer Organizations - This is an incorrect response because Customer
Organizations are not required
c) Fiscal Years (Periods) - This is the correct response because Fiscal Years
(Periods) are the first financial configuration to be established

2. What filter does the GL Details report provide the ability to filter on to view
transactions which affect the General Ledger?
a) Document Type - This is the correct response because the GL Details report
provide the ability to filter on Document Types
b) Person - This is an incorrect response because the GL Details report does
not offer the ability to filter on a person
c) There is no unique filter in the GL Details report - This is an incorrect
response because the GL Details report offers the ability to filter on the
Document Type

3. What report can help analyze the transactions and balances that have been posted
and identify omissions of amounts not posted to the General Ledger at a
summarized level and can confirm DEBITS = CREDITS?
a) GL Details - This is an incorrect response because the GL Details report is
presented at a detail level not summary.
b) GL Summary (Trial Balance) - This is the correct response because the GL
Summary presents Debit and Credit transaction data at a summarized level
and proves Debits = Credits
c) Balance Sheet - This is an incorrect response because the Balance sheet
proves Asset = Liabilities + Equity not Debit = Credits

4. What is used in Unanet to prevent further postings in the current fiscal period?
a) Close Posting Features - This is the correct response because Closing
Posting Features is the specific action that locks a fiscal period, ensuring no
additional transactions can be recorded and preserving the integrity of the
financial data for that period.

APPENDIX A: ANSWER KEY Page 56
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