EMT Practice Test

1. Question Content...

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Question1: What is the difference between locking the period for data entry only and locking the period entirely?

Question2: Company ABC has a journal type GAAP accrual that exists on their books for consolidation purposes.
However, this accrual should not be included in the final consolidation. Several other companies also have journal type GAAP entries that need to be excluded from the final consolidation. How should this be done?

Question3: In Controller's General Configuration, an administrator can specify that reconciliation is to be performed by journal type on what other basis can reconciliation be performed?

Question4: Which of the following best describes group journals in contrast to company journals?

Question5: What report can the administrator run to ensure that investments have eliminated correctly?

Question6: A Controller administrator can enter which of the following combinations of currency rates for a given period and actuality?

Question7: When creating an integrated movement account, what must an administrator connect to the base account?

Question8: The administrator is consolidating for the first time and sees that consolidation can be run either with status or by steps. What is a difference between consolidating by steps and consolidating with status?

Question9: Currency conversion should be performed after which activity?

Question10: Company BAG uses the Method 1 currency conversion. Which of the codes shown below should be assigned to the following accounts: Patents, Work in Process Inventory, Raw Materials Costs, Advertising and Promotions, and Common Stocks Equity?

Question11: Which currency conversion code is commonly used for P&L accounts and takes the average year rate from the currency register?

Question12: An administrator has created a non-integrated movement account to track the closing balance of machinery and equipment. What must the administrator specify for both the base account and the movement account to ensure that the data is entered correctly?

Question13: An administrator wants to create a non-integrated movement account to track the sale of buildings. Which of the following is a valid account type for this movement account?

Question14: Company ABC has a 20 line year-end journal entry in journal 101. Several other entities would like to use these journal entries for their new fiscal year. However, all of the entities already have a journal 101. How can the administrator use the journal entries in journal 101 for ABC without overwriting the other entities' own journals?

Question15: The Trial Balance with Drilldown shows a million dollar intercompany difference. Where can the administrator identify this difference?

Question16: Data access for the Sales office in China needs to be limited to only the products (extended dimension 1) that the office distributes. What is the most appropriate way to customize the data entry view for this location?

Question17: In the Controller system, the period values that were entered for a company roll up to several group currencies. How should the historical rates for these group currencies be entered?

Question18: What is the benefit of creating user rights?

Question19: An administrator needs to build a report that compares balance sheet accounts for different periods. The report needs to be run quickly for what-if scenarios throughout the year. What report would best meet this need?

Question20: How is data entered into company journals in Controller?

Question21: An administrator wants to import data from a flat file into the Controller system. Which of the following is a valid field in a data import file?

Question22: If reconciliation needs to be carried out on an active/passive option for the accounts in a Balance Sheet form, which form property should be used?

Question23: Where do the values for the currency conversion difference account1 and account2 come from?

Question24: Currency conversion codes E and F in Controller both use the historical rates taken from the historical currency register or referenced from a specific account. How do they differ?

Question25: What do control tables allow the administrator to do?

Question26: A summation account is linked to a specification, as when using an integrated movement account. This Controller data entry function allows the user to open the related specifications and details. Which Controller function was described here?

Question27: A Controller administrator wants to track the changes between opening and closing balances of goodwill.
What type of account must the administrator create?

Question28: A Controller administrator wants to eliminate intercompany balances prior to consolidating the data. To do this, the administrator must create a control table. What must the administrator specify for this control table?

Question29: Which of the following reports can be included in a report book?

Question30: Which of the following best explains the difference between the currency conversion difference account1and conversion difference account2?

Question31: What are the implementation steps required to convert currency?

Question32: What is the importance of defining a start period for acquisition calculations?

Question33: An administrator wants to eliminate acquisition values before consolidating the data in the Controller system. To do this, the administrator has created an acquisition control table. What does this control table determine?

Question34: In addition to using automatic journals, what is the other way in which intercompany journals can be eliminated?

Question35: The controller has legal data with no extended dimensions and needs to lock these values once reconciled. They also have detailed extended dimensions management data that should reconcile to the legal data, but kept separate from the legal data. How can the Controller achieve this?

Question36: What negatively affects the performance of an Excel Link report?

Question37: What happens when a main account type code is changed into a statistical account type code?

Question38: What is the purpose of submissions in Controller?

Question39: What is the difference between entering historical rates and entering currency rates?

Question40: Before movement accounts can be generated, where must the administrator enable the system for movement accounts prior to their creation?

Question41: An administrator is working in Controller and wants to run an existing Profit and Loss report to view P&L account data. What is the most efficient way for the administrator to view the P&L data?

Question42: In the report below, assuming the closing rate (B) is .900 and the average rate of balance?

Question43: When is a group company used?

Question44: A Controller administrator wants users to be able to enter data regarding investments in subsidiary companies. These companies are not external to the group company. What properties must the administrator specify for the relevant accounts?

Question45: An administrator wants end users to be able to carry out currency simu-lations. For example, a user may want to see how actual results would compare to budgeted results if the effects of currency rates were eliminated. What type of actuality must the administrator use for this purpose?

Question46: An administrator wants to make it easier for end users to enter data into account 1310 (Investments in Subsidiaries) by enabling the investment register. What investments code must the administrator specify for this account?

Question47: What is the best practice for ensuring that an Excel Link report runs efficiently after upgrading the report for a new Controller release?

Question48: Which of the following can be done using the Excel link?

Question49: How can intercompany balances between all companies be viewed?

Question50: In the process of eliminating acquisition values from the Controller system, an administrator has created an acquisition control table. What must the administrator define in the lower half of the control table?

Question51: Which of these structures could use an external import specification to upload metadata into Controller?

Question52: Which of the following is a valid combination for a standard form?

Question53: Which of the following is true of the Excel Link?

Question54: An administrator created multiple submissions for the period 0812. Why would an administrator create multiple submissions for the same period?

Question55: How can an administrator configure Controller in such a way that intercompany balances will be eliminated automatically?