Where are new fiscal years created?

Question

BlackTom AI · Accepted Answer

Question presented: 'Where are new fiscal years created?' This asks about the correct location within the G/L (General Ledger) system to initiate a new fiscal year.
Option 1: 'In the G/L Create New Year form' This option aligns with the typical workflow where a dedicated Create New Year form is used to define and initialize a new fiscal year period in the GL module. It is commonly the correct entry point for year setup tasks.
Option 2: 'In the G/L Journal Entry form' The Journal Entry form is intended for recording transactions within the current fiscal year (and possibly prior years with adjustments), not for creating or opening a new fiscal year itself. Using it to create a year would be inappropriate and illogical for year management.
Option 3: 'In the G/L Accounts form' The Accounts form lists and records ledgers and individual accounts, but it does not govern the calendar or structure of fiscal years. It lacks the controls or fields necessary to establish a new fiscal year period, making this option incorrect.
Option 4: 'In the G/L Fiscal Year form' This label suggests a form related to fiscal year details; however, in many systems the dedicated creation step is separated into a 'Create New Year' workflow rather than a generic Fiscal Year form. If the system uses a separate create-new-year process, this option would be misleading; if it exists as a configuration screen, it may be involved in fiscal year setup, but it is not the standard entry point indicated by the provided correct answer.

In summary, the form intended specifically for initiating and creating a new fiscal year is the one labeled as the 'Create New Year' form within the G/L module. The other forms are oriented toward recording transactions (Journal Entry), managing accounts (Accounts), or configuring year-related settings (Fiscal Year), but do not serve as the primary creation point for a new fiscal year.

SG30018E1 - Sage 300 2018 General Ledger Module 4 Quiz

Where are new fiscal years created?

查看解析

登录即可查看完整答案

类似问题

In a consumer society, many adults channel creativity into buying things

Economic stress and unpredictable times have resulted in a booming industry for self-help products

People born without creativity never can develop it

A product has a selling price of $20, a contribution margin ratio of 40% and fixed cost of $120,000. To make a profit of $30,000. The number of units that must be sold is: Type the number without $ and a comma. Eg: 20000

Which of the following statement regarding cost is correct:

Under the assumptions used in cost-volume-profit analysis, as the activity increases:

The CVP and break-even analysis are supported by a range of important assumptions. Which of the following is not an assumption of the CVP:

The break-even point is that at which:

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单