Adjusting Transactions: Test Pool (ML-Generated)

  1. What is the purpose of creating auto-reversing batches in Acumatica ERP?
    • To adjust income and expense accounts at the end of the period automatically
    • To automatically delete reversing transactions for all posted entries
    • To revalue accounts maintained in foreign currencies
    • To set the date of the reversing transactions as the first day of the next financial period
  2. When are auto-reversing batches created and reversed?
    • At the end of the period; they are reversed at the beginning of the next period
    • At the beginning of the period; they are reversed at the end of the same period
    • At the beginning of the period, and they are never reversed
    • Randomly throughout the period; they are reversed at the end of the next period
  3. Which records are reversed in an auto-reversing batch? (Select all correct responses.)
    • All debit entries are reversed as credit entries.
    • All credit entries are reversed as debit entries.
    • All expense accounts are reversed as income accounts.
    • All income accounts are reversed as expense accounts.
    • All asset accounts are reversed as liability accounts.
  4. On which form can you create an auto-reversing batch?
    • Journal Transactions
    • General Ledger Preferences
    • Recurring Transactions
    • Reclassify Transactions
  5. What are the ways of getting a ready-to-print version of the GL Reversing Batches report? (Select all correct responses.)
    • Running the report on the GL Reversing Batches form
    • Clicking the Reversing Batches link in the Summary area of the Journal Transactions form for the original batch
    • Running the report from the GL Journal Entries form
    • Clicking the link in the Reversing Batches box of the GL Reversing Batches report