Record-to-Report

Record-to-Report practice questions, page 2 of 3, with answer review and explanations.

Question 6

Refer to the following scenario to answer the question below.Global Solutions, Inc. needs to allocate its monthly office rent and utilities expenses across its total 100,000 square feet (SF) of facilities space. The total monthly rent is $50,000, and total utilities are $10,000. The company decides to allocate these costs based on the square footage occupied by each department:• Marketing (20000 SF)• Sales (30000 SF)• R&D (35000 SF)• HR (15000 SF)Additionally, Global Solutions, Inc. decides to allocate IT support costs based on the number of employees. You must set up Workday to handle multiple allocation bases including square footage and employee count. How will you do so?

  1. Combine both allocation bases into a single allocation rule.
  2. Create separate allocation definitions for each cost type and allocation basis.
  3. Calculate the allocations outside Workday and process them as journal entries.
  4. Allocate IT support costs evenly across all departments.

Question 7

A new user is required to create accounting journals.What report shows which security groups have the correct access?

  1. Security Group Membership and Access
  2. View Security For Securable Item
  3. Roles for Organization and Subordinates
  4. Role Assignment Permissions

Question 8

Once a user enters a financial transaction, what company accounting detail is locked from being changed?

  1. Account Translation Rule Set
  2. Company Currency
  3. Account Posting Rule Set
  4. Account Control Rule Set

Question 9

How does Workday handle accounting for operational transactions?

  1. Operational transactions and manually entered transactions are handled the same.
  2. Workday uses built-in logic to manage most operational transactions. If necessary, the end user can override this.
  3. Workday looks at the spend and revenue rules for handling operational transactions.
  4. Workday evaluates criteria entered on operational transactions against the account posting rules and posts operational journals accordingly.

Question 10

In addition to a unique report name, what must you immediately identify when creating a custom report?

  1. Report fields
  2. Data source
  3. Related business object
  4. Primary business object