Check your knowledge

Completed

Answer the following questions to see what you've learned.

1.

Which of the following events must occur before you post a bank account reconciliation?

The Total Difference field equals the sum of all lines with the Type field set to Difference.

The Bank Account Statement - Test Report is printed.

The value in the Statement Ending Balance field must not equal the value in the Total Balance field.

There are unapplied entries.

2.

When creating a new bank account reconciliation, you must reconcile the bank statement lines with the bank account ledger entries. There are two options for you to retrieve the bank statement lines on the Bank Account Reconciliation page. The Suggest Lines function is one option; which of the following is the other option?

Run the Get Bank Statement Lines batch from the periodic activities in the cash management application area.

Use the Import Bank Statement function from the ribbon on the Bank Account Reconciliation page.

Enter the bank statement lines manually.

Transfer the bank statement lines from the bank account card to the Bank Account Reconciliation page.

3.

If you want to post the bank reconciliation, you must verify that which of the following fields balance?

Statement ending balance and balance

Total balance and balance

Statement balance and statement ending balance

Statement ending balance and total balance

You must answer all questions before checking your work.