Page 57 - UNANET GOVCON: CLOSING A FISCAL PERIOD

b) Post transactions - This is an incorrect response because This action records
transactions to the general ledger; it does not prevent others from being
posted.
c) Change Posting Options - This is an incorrect response because This
modifies system settings but does not formally close or lock the fiscal period.

5. What are the column names in the GL Summary (Trial Balance) report?
a) Account, Beginning Balance, Debit Activity, Credit Activity, Ending
Balance - This is the correct response because These columns provide a
standard trial balance format, showing the flow of an account's balance from
the beginning to the end of a period, which is the primary function of this
report.
b) Asset, Liability, Revenue, Expense - This is an incorrect response because
These are account categories or types, not the specific column headers within
the report.
c) Account, Days Past Due, Total - This is an incorrect response because These
columns are typically found in aging reports (like AR or AP Aging), not a trial
balance.

6. In the GL Details report, which Source code (Src) represents transactions from
posting Vendor Invoices?
a) VI - This is the correct response because "VI" is the standard abbreviation
Unanet uses to identify transactions originating from a Vendor Invoice.
b) VP - This is an incorrect response because This code represents Vendor
Payments.
c) CI - This is an incorrect response because This code represents Customer
Invoices.

7. In the GL Details report, which Source code (Src) represents posting transactions
from completing an invoice for a Customer?
a) VI - This is an incorrect response because This code represents Vendor
invoices.
b) JE - This is an incorrect response because This code represents manually
created Journal Entries.
c) CI - This is the correct response because "CI" is the standard abbreviation for
transactions originating from a Customer Invoice.

APPENDIX A: ANSWER KEY Page 57
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