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Choose the best response for each of the questions. Then select Check your answers.

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1.

Select the sentence that best describe financial dimensions.

Financial dimensions make it difficult to adjust the Chart of Accounts.

Financial dimensions are the building blocks of the account structure but are static in nature and cannot be modified once established.

Financial dimensions page the segments in your accounting structure and are critical for reporting purposes.

2.

An accounting supervisor at Contoso and is responsible for performing the month-end close. Which workspace should they use to easily review and then close each task?

Financial tasks workspace

Month End close workspace

Financial period close workspace

3.

Why are elimination transactions important when performing intercompany consolidation?

Intercompany eliminations remove the profit/loss arising from intercompany transactions.

Consolidation requires gathering transactions from several company accounts into a single set of company accounts.

The General ledger module configuration can't be done prior to elimination transactions.

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