Workday Pro Record-to-Report (R2R) Certification Exam - Workday-Record-to-Report Exam Practice Test

Question 1

Refer to the following scenario to answer the question below.
A company is a global organization that needs to comply with multiple accounting standards. The company has configured their account posting rules so that certain supplier invoices will comply with U.S. GAAP rules but will not comply with IFRS.
In addition to the supplier invoices, what transaction is necessary for the IFRS book to achieve compliance?

A. An adjusting journal entry assigned to the blank book code.

B. An adjusting journal entry that includes a book code specific to U.S. GAAP.

C. An adjusting journal entry that includes a book code specific to IFRS.

D. Two adjusting journal entries that include book codes for IFRS and for U.S. GAAP.

Correct Answer: C

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Question 2

What is the term for a financial account held at a bank or other financial institution?

A. Cash Pool

B. Ledger Account

C. Settlement Account

D. Bank Account

Correct Answer: D

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Question 3

Refer to the following scenario to answer the question below.
A company created a journal sequence generator rule, assigned the rule to the company, selected to create ID generators, opened accounting periods, and posted journals to the current ledger year. Next, the company added a condition to the journal sequence generator rule.
What step can the company implement to change the journal sequence for the current ledger year?

A. Unpost all journals in the current ledger year.

B. Utilize the Mass Delete Journal Sequence Generator IDs task.

C. Close the remaining ledger periods to disallow more journal postings in the current ledger year.

D. Journal sequence formats cannot be adjusted for the current year once journals are posted.

Correct Answer: A

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Question 4

There are several companies within a tenant, one of the companies requires a location worktag on supplier invoices.
What task should you use to manage this requirement?

A. Maintain Related Worktag Usage

B. Maintain Custom Validations

C. Maintain Worktag Usage

D. Maintain Business Process Step Conditions

Correct Answer: B

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Question 5

Refer to the following scenario to answer the question below.
A company created a journal sequence generator rule, assigned the rule to the company, selected to create ID generators, opened accounting periods, and posted journals to the current ledger year. Next, the company added a condition to the journal sequence generator rule.
When is the soonest the new condition would be included on the company's journals?

A. In the next ledger year, assuming no journals are posted AND they delete the unused ID generators before activating the updated journal sequence rule.

B. Before they close the current ledger year.

C. After they close all periods in the current ledger year and selects to reassign ID generators.

D. The new condition can never be included on their journals.

Correct Answer: A

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Question 6

Company X and Company Y are part of the same Workday tenant. Company X provides consulting services to Company Y.
How will you record this intercompany service in Workday to ensure proper tracking and elimination during consolidation?

A. Process journal entry only in Company X's books.

B. Process a regular vendor invoice from Company X to Company Y.

C. Use the intercompany transaction functionality, with Company X recording revenue and Company Y recording an expense.

D. Directly transfer funds between the bank accounts of Company X and Company Y.

Correct Answer: C

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Workday Pro Record-to-Report (R2R) Certification - Workday-Record-to-Report Exam Practice Test

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