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Workday Fin Cert MC Exam Questions and Answers., Exams of Business Ethics

Workday Fin Cert MC Exam Questions and Answers.Workday Fin Cert MC Exam Questions and Answers.

Typology: Exams

2024/2025

Available from 12/19/2024

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Workday Fin Cert MC Exam Questions
and Answers.
Which of the following describes a domain (select all)
A. Setup Data
B. Power Users
C. Static Data
D. Highly Configurable - Correct answer Setup Data, Power
Users, static data
A ____________ is a set of tasks that is initiated, acted upon, and
completed by users in Workday.
A. Business Process
B. Functional Area
C. Supplier Invoice - Correct answer Business Process
What are the three guidelines for custom organizations vs.
custom worktags?
A. Security, hierarchy, and workers.
B. Security, hierarchy, and business process.
C. Security, hierarchy, and accounting. - Correct answer
Security, hierarchy, and workers
Which organization type represents a legal entity?
A. Company Hierarchy
B. Company
C. Cost Center
D. Custom Worktag - Correct answer Company
Which of the following describes a Custom Worktag?
A. Delivered by Workday to track financial transactions and group
people. For example, company or cost center.
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Workday Fin Cert MC Exam Questions

and Answers.

Which of the following describes a domain (select all) A. Setup Data B. Power Users C. Static Data D. Highly Configurable - Correct answer Setup Data, Power Users, static data A ____________ is a set of tasks that is initiated, acted upon, and completed by users in Workday. A. Business Process B. Functional Area C. Supplier Invoice - Correct answer Business Process What are the three guidelines for custom organizations vs. custom worktags? A. Security, hierarchy, and workers. B. Security, hierarchy, and business process. C. Security, hierarchy, and accounting. - Correct answer Security, hierarchy, and workers Which organization type represents a legal entity? A. Company Hierarchy B. Company C. Cost Center D. Custom Worktag - Correct answer Company Which of the following describes a Custom Worktag? A. Delivered by Workday to track financial transactions and group people. For example, company or cost center.

B. Delivered by Workday to track financial transactions. For example, supplier or customer. C. Created by customers to track financial transactions. For example, course number or market segment. D. Created by customers to track financial transactions and group workers. For example, training center or sales channel. - Correct answer Created by customers to track financial transactions. For example, course number or market segment. Which field in Maintain Assignable roles tells us whose picture will display on the Org Chart? A. Restricted to Single Assignment B. Assigned by Security Groups C. Leader/In Supporting D. Business process security policy - Correct answer Leader/In Supporting What report tells you who can do what? A. Segregation of Duties - Potential Conflicts B. Action Summary for Security Group C. View Security for Securable Item D. Business Process Security Policies for Functional Area - Correct answer View Security for a Securable item What is the first step in every business process event? A. Start. B. Begin. C. Initiate. D. Commence. - Correct answer Initiate True or False: When creating a new standalone company, this company will use all organization-specific definitions. - Correct answer True

D. Company Name - Correct answer Reference ID True or False: There are two types of journals: Accounting journals and Operational journals. - Correct answer True Which is not an accounting journal status? A. Posted B. Created C. In Progress D. Approved - Correct answer Approved True or False: Supplier invoices can be managed after the invoice has been submitted - Correct answer True Which security role is used to create and maintain supplier invoices? A. Accounts Payable Analyst B. Accounts Payable Data Entry Specialist C. Accountant D. Accounting Manager - Correct answer Accounts Payable Data Entry Specialist Which security group can settle both supplier invoices and customer refunds? A. Accounts Payable Settlement Specialist B. Accounting Manager C. Settlement Specialist D. Accounts Receivable Specialist - Correct answer Settlement Specialist True or False: Workday has separate settlement engines for receivables and payables - Correct answer False

Which of the following security roles will allow a user to enter customer transactions, such as invoices and customer payments? A. Accounts Receivable Specialist B. Accounts Receivable Analyst - Correct answer Accounts Receivable Specialist True or False: A cost center worktag must be indicated on the customer invoice line only and not the header. - Correct answer False True or False: The Fix Operational Journals with Errors task can be run by the Accounting Manager at period end to determine if there were any posting errors that occurred in the period. - Correct answer True Customer deposits can be made by which of the following methods? A. Record the deposit of the customer payment at the same time as you record the payment. B. Customer deposits are made as separate task after the customer payment is recorded. C. Both methods are correct - Correct answer Both methods are correct. True or False: A Workday customer must be set up as a supplier before they can be refunded following an adjustment or overpayment. - Correct answer False What type of security affects tenant wide permission? - Correct answer User based security What account posting rules are automatically applied to supplier invoices? - Correct answer Spend (Debit), Payables (Credit), Retained Earnings

What does the task "Maintain Worktag Usage" affect? - Correct answer The entire tenant What do custom validations affect? - Correct answer The specific company it is assigned to How many spend categories can you have per invoice line? - Correct answer Only 1 How many custom organization types can you use in Workday Financials? - Correct answer 10 Which of the following must match for all orgs within a hierarchy? A. Ref ID B. Org type C. Org Subtype D. Org Code - Correct answer C. Org Subtype True or False: If you accidentally open a period, you can set it back to created status. - Correct answer False What is the default role used to manage and open periods? A. Accounting Manager B. Controller C. Accountant D. Finance Administrator - Correct answer A. Accounting Manager Where can you specify who has permission to cancel a business process? A. Domain security policy B. Business process definition C. Functional area

D. Business process security policy - Correct answer D. Business Process Security Policy Where can you find and correct BP transactions that were unsuccessfully routed for approval? A. Fix Operational Journals with Errors B. Business Process Unassigned Step Audit C. Maintain Custom Validations D. Maintain Related Worktag Usage - Correct answer B. Business Process Unassigned Step Audit For an Import Accounting Journal EIB, when the Submit column is set to "N" or left blank what will be the status of the resulting journal entry? A. Submitted B. Created C. In Progress D. Approved - Correct answer B. Created When you select the Create Reversal option for an accounting journal what does the reversal date default to? A. Today B. Last day of the current period C. First day of the next period D. One year from today - Correct answer C. First day of the next period True or False: Both Supplier Category and Supplier Group can be used as dimensions in the Account Posting Rules to drive account postings. - Correct answer True Spend categories are used to classify assets, expense items, purchase items, and supplier catalog items. After spend categories are created, their usage can be defined for all of the following except:

A. Only a Settlement Specialist B. Only an Accounts Receivable Specialist C. Both a Settlement Specialist and an Accounts Receivable Specialist - Correct answer C. Both a Settlement Specialist and an Accounts Receivable Specialist True or False: As soon as you create the customer refund and the business process is completed, Workday creates a journal entry for it. - Correct answer False True or False: In order to create an ad hoc payment, the payee must be an existing supplier in the tenant. - Correct answer False True or False: You can only print checks for one type of payment at a time. - Correct answer False Which account posting rule that impacts financial will be setup in a payroll first deployment? A. Retained Earnings B. Payables C. Undeposited Payments - Correct answer A. Retained Earnings

  1. What is the primary driver of the FDM structure? A. Redesigning the Chart of Accounts B. Financial Reporting C. Worktag Definition - Correct answer B. Financial Reporting True/False: A custom organization hierarchy can be created before a custom organization subtype and type - Correct answer False (subtype > type > hierarchy) True/False: An organization cannot be assigned to a hierarchy from the organization itself - Correct answer True

True/False: A superior organization can only be assigned from the hierarchy that will fall under it - Correct answer True What should always be the top condition when editing a bp definition and adding a new condition rule? - Correct answer Company (Common Financials Dimensions) In finance, at what level should all transactions balance? - Correct answer Company level Why are account posting rules not recommended on supplier groups? - Correct answer It is an optional field and you do not want optional fields to drive your accounting If you choose EFT as a payment type when creating a supplier, what must you also add? - Correct answer A bank account True/False: If you have a default ledger account, you can have conditions. - Correct answer False True/False: Spend and revenue account posting rules never have default ledger accounts. - Correct answer True What additional rule condition must be added to custom validations for supplier invoices? - Correct answer "Validate Worktags" "equal to" "Comparison Value (checked)"