Page 36 - Participant Guide ebook - Unanet GovCon Using General Ledger

Lesson 2: GENERAL LEDGER BUDGETS

1. What role creates the Budget Name and Budget Profile?
a) GL Admin - This is the correct answer because GL Admin creates
the Budget Name and Budget Profile in Unanet
b) GL Poster, GL Budget Manager, and GL Viewer - This is an
incorrect answer because none of these roles can create a Budget
Name and Budget Profile
c) GL User and GL Viewer - This is an incorrect answer because none
of these roles can create a Budget Name and Budget Profile

2. What is required to be created and available for selection on the Budget
Profile screen?
a) Budget Values - This is an incorrect answer because a Budget
Name is required to create a Budget Profile
b) Budget Name - This is the correct answer because a Budget
Name is required to create a Budget Profile
c) Budget Profile - This is an incorrect answer because a Budget
Name is required to create a Budget Profile

3. Which financial statement presents the balances of Revenue and Expense
account types through a specific Fiscal Period?
a) GL Summary (Trial Balance) - This is an incorrect answer because
a Trial Balance shows the posted Debit and Credit transactions
b) Balance Sheet - This is an incorrect answer because a Balance
Sheet presents the balances of Asset, Liability, and Equity
c) Income Statement - This is the correct answer because an Income
Statement presents the balances of Revenue and Expenses

APPENDIX A: CHECK YOUR UNDERSTANDING ANSWER KEY
©2022 Unanet. All rights reserved.
36