Closing a Financial Period in a Company: Test Pool (ML-Generated)

  1. When can a financial period be closed in the system?
    • After all the needed transactions have been posted and verified
    • Before any transactions have been posted
    • If the previous period has not been closed yet
  2. Can multiple financial periods be closed at once? (Select all correct responses.)
    • Yes, multiple periods can be closed at once.
    • If the Centralized Period Management feature is enabled, you can simultaneously close multiple periods for all companies within one tenant.
    • No, only one period can be closed at a time.
    • If the Centralized Period Management feature is enabled, only the periods in the master calendar can be closed at once.
    • If the Centralized Period Management feature is disabled, each company's accounting department can close only one period at a time.
  3. What happens when a period is closed in the system?
    • Users are prevented from posting new transactions to the closed period.
    • The closed period is deleted from the system.
    • Users are allowed to edit and modify transactions in the closed period without additional settings.
    • The closed period is automatically reopened after a certain time.
  4. What feature determines whether financial periods are managed at a company level or at a tenant level?
    • Centralized Period Management
    • Multiple Base Currencies
    • Multiple Calendars Support
    • Multicompany Support
  5. What feature needs to be enabled on the Enable/Disable Features form in order to use different calendars in different companies?
    • Multiple Calendars Support
    • Centralized Period Management
    • Multiple Base Currencies
    • Multicompany Support