MB5-700 · Question #20
Which three system accounts must have an assigned G/L account? (Each correct answer presents part of solution. Choose three)
The correct answer is D. Error account E. Penny difference F. Rounding. D: The Error Account is used when the transaction example occurs, but the posting type has not been defined in the system account. E: When a transaction originates in a foreign currency, the transaction is calculated or converted by using the currency rate. Because of the…
Question
Which three system accounts must have an assigned G/L account? (Each correct answer presents part of solution. Choose three)
Options
- ARoundSecCurrency
- BYearEndResult
- CMisc.charges
- DError account
- EPenny difference
- FRounding
How the community answered
(24 responses)- A4% (1)
- B17% (4)
- C8% (2)
- D71% (17)
Explanation
D: The Error Account is used when the transaction example occurs, but the posting type has not been defined in the system account. E: When a transaction originates in a foreign currency, the transaction is calculated or converted by using the currency rate. Because of the calculation, there may be a difference in the default currency amount or in the secondary currency amount. The currency amount difference is posted as an entry in the Penny Difference account.
Topics
Community Discussion
No community discussion yet for this question.