Free 1Z0-342 sample questions

Correct answers: Change the asset's physical location and responsible business unit.; Update the asset's category codes (e.g., ACQ, AST).

The Asset Transfer program (P12108) is primarily used to change an asset's location-related information, which includes the physical location, the responsible business unit, and related address book numbers. It can also be used to update non-financial information such as category codes.

The Asset Transfer program (P12108) is primarily used to change an asset's location-related information, which includes the physical location, the responsible business unit, and related address book numbers. It can also be used to update non-financial information such as category codes.

Correct answer: On the subsidiary's customer master record, set the 'Credit Check Level' field to 'P' (Parent/Child).

The 'Credit Check Level' field in the Customer Master (Billing Information tab) is the specific control for this requirement. Setting it to 'P' (Parent/Child) instructs the system to aggregate the open balances for the customer's entire hierarchical structure (as defined by the Parent Number in the Address Book) and compare that total against the credit limit of the parent company. Simply populating the Parent Number in the Address Book establishes the relationship but doesn't enable the credit check aggregation. The Credit Message and Send Invoice To fields do not control the credit check logic.

Correct answer: False

OneView Financial Statements, like other User Defined Objects (UDOs), can be shared with other users, roles, or *PUBLIC. The ability to view, modify, or run a statement is controlled by UDO security settings, not by the original creator. An administrator can grant permissions to other users or roles to modify the statement layout.

Correct answer: The print program (e.g., R04572) specified in the Payment Instrument Defaults is invalid or has a data selection issue.

During the write step of the automatic payment process, the system calls a specific print program (like R04572 for checks) based on the Payment Instrument Defaults. If this program is not defined correctly, has data selection that excludes the payments, or fails to run for any reason, the payment group will get stuck in a 'Write in Process' or similar status without generating payments. The system is waiting for the print UBE to complete successfully and provide feedback.

Correct answer: The GL account used in the voucher distribution must be within the range of accounts defined in the FA AAI item FX (Fixed Asset Post).

The integration between Accounts Payable and Fixed Assets is primarily controlled by the FX range in the Fixed Assets AAIs. When a voucher is posted to a GL account that falls within this defined range, the system recognizes it as a fixed asset acquisition. It then automatically creates a corresponding record in the F1202 Unposted Fixed Assets Ledger, which can then be processed to create the final asset master record in the F1201.

Correct answer: Set 'Thru Period' to 3 and leave 'From Period' blank.

The 'Trial Balance by Ledger Type' report (R094121) is designed to show balances as of a specific point in time. The 'Thru Period' processing option specifies the ending period for the balance calculation (in this case, March, which is period 3). Leaving the 'From Period' blank instructs the report to calculate balances from the beginning of the fiscal year through the specified period, which is the standard behavior for a trial balance.

Correct answers: Define Delinquency Policies (P03B20) that link aging categories to specific notice text.; Create Delinquency Notice Text (P03B21) for each type of notice required.; Assign the appropriate Delinquency Policy to each customer in their Customer Master record.

The Delinquency Policy is the core component that defines the rules for sending notices, including which notice text to use based on the aging of the customer's oldest invoice.

This program is used to create the actual boilerplate text that will be printed on the delinquency notices. The policies defined in P03B20 will reference this text.

The system needs to know which policy applies to which customer. This link is made in the Customer Master record, allowing for different policies to be applied to different types of customers.

Correct answer: Define the custom table in the 'Financial Report Data Source' application (P09015).

OVFS relies on a predefined set of business views for data access. To include a custom table, it must first be registered as a valid data source. This is done in the Financial Report Data Source application (P09015), which allows an administrator to define a business view over the custom table and make it accessible to the OVFS design tool. Without this step, OVFS will not be aware of the custom table.

Correct answer: Company Names & Numbers (P0010)

The Company Names & Numbers program (P0010) is where the fundamental parameters for a company are set. This includes assigning the Fiscal Date Pattern (e.g., 'R' for a standard calendar year) and setting the 'Current Period' and 'Current Year'. Setting these values effectively opens the accounting periods for transaction entry. The General Accounting Constants (P0000) control system-wide settings but not company-specific period management.

Correct answer: It updates the beginning balance fields in the Asset Account Balances File (F1202) for the new fiscal year.

The primary function of the Fixed Assets Annual Close (R12825) is to roll forward the asset balances. It takes the ending accumulated depreciation and cost amounts from the current year and populates them into the beginning balance fields for the next fiscal year in the F1202 table. This is a critical step to ensure that depreciation calculations for the new year start with the correct opening balances. It does not post to the GL or handle disposals.