You are creating a new item model group. Which three of the following can you configure by using the Item model group form? Each correct answer presents a complete solution.

Question

Options

• AWhether quality testing is mandatory before accepting Items into Inventory
• BThe ability to sell an item at a discount
• CThe ability to accrue liability on a product receipt
• DInventory that can have negative quantities on hand
• EHow transactions will post to the ledger during a financial update

• A
  9% (3)
• B
  18% (6)
• C
  73% (24)

Explanation

C:Accrue liability on product receipt Select this check box to accrue the estimated expense for packing slip updates to the general ledger. D:Physical negative inventory Select this check box to enable negative physical inventory for the item model group. E:Post financial inventory Select this check box to post the updated financial value of items in the ledger. When a purchase order is invoice-updated, the value of the items is posted to the inventory receipt account. When a sales order is invoice-updated, the value of the items is posted to the inventory issue and the consumption accounts. The inventory value that is posted can then be reconciled with the related status accounts in General ledger.

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