In which three modules can a fixed asset be acquired? Each correct answer presents a complete solution.

Question

Options

• AGeneral ledger module
• BBudgeting module
• CAccounts payable module
• DAccounts receivable module
• EInventory module

• A
  83% (20)
• D
  13% (3)
• E
  4% (1)

Explanation

A: Use General ledger to define and manage the legal entity's financial records. The general ledger is a register of debit and credit entries. These entries are classified using the accounts that are listed in a chart of accounts. You can allocate, or distribute, monetary amounts to one or more accounts or account and dimension combinations based on allocation rules. There are two types of allocations: fixed and B: Use Budgeting to set up, create, and view budgets. Budgeting can include budget control, which you can use to monitor the budget funds that are available for planned and actual purchases and expenditures. You can create budget register entries for the original budget, budget transfers, and budget revisions. You can also create budget register entries for encumbrances and pre-encumbrances for purchases and planned expenditures. Budget register entries can be created automatically when budgets are transferred to the general ledger from other modules, such as Project management and accounting or Fixed assets. C: You can set up an integration between Fixed assets and Accounts payable to automatically create fixed assets from purchase orders or vendor invoices, or automatically post acquisition and acquisition adjustment transactions for fixed assets.

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