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Infor M3-123 Exam - Topic 3 Question 34 Discussion

Which two of the following items must be completed before you record the year-end profit or loss on General Ledger. Calculate Profit/Loss (GLS995/E)? (Choose two.)
C) All transactions from the year to be updated are recorded. and D) FAM function GL99 is defined in 'FAM Function. Open' (CRS405).
A) The budget of the budget transactions to transfer must have the same year, period, budget number and budget version as the budget of the parent company.
B) FAM function GL01 with at least one detail record is defined in FAM Function. Open (CRS405).

Infor M3-123 Exam - Topic 3 Question 34 Discussion

Actual exam question for Infor's M3-123 exam
Question #: 34
Topic #: 3
[All M3-123 Questions]

Which two of the following items must be completed before you record the year-end profit or loss on General Ledger. Calculate Profit/Loss (GLS995/E)? (Choose two.)

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Suggested Answer: C, D

by Andree at Aug 27, 2024, 12:10 PM

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Arthur
6 months ago
A is a must, but I’m not convinced about D being necessary.
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Salena
7 months ago
I agree with C, but I’d pick B over A.
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Ceola
7 months ago
Wait, are we really sure all transactions need to be recorded? Sounds off.
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Lai
7 months ago
I think A is also important, but not sure about D.
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Johana
7 months ago
Definitely C and D! Those are crucial.
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Temeka
8 months ago
I thought FAM function GL99 was important too, but I can't remember if it's required for the year-end profit calculation. I wish I had reviewed that section more!
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Reuben
8 months ago
I practiced a similar question, and I believe that the budget transactions must match the parent company's details. It feels like a key step before finalizing anything.
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Paola
8 months ago
I'm a bit unsure about the FAM functions. I remember something about GL01 needing to be defined, but I can't recall if it's essential for this specific calculation.
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Renea
8 months ago
I think we definitely need to ensure that all transactions from the year to be updated are recorded. That seems crucial for calculating profit or loss.
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Nadine
8 months ago
This is a tricky one, but I think the key is to focus on the specific requirements mentioned in the options. B and D seem to be the most relevant and directly related to the task of recording the year-end profit or loss.
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Luke
8 months ago
Based on the wording of the question, I think the key is to identify the two necessary steps before recording the profit or loss. Options A and C seem to be more general requirements, while B and D are more specific to the actual process. I'll go with B and D.
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Jaclyn
8 months ago
I'm a bit confused by this question. I'm not sure what "FAM function" means or how it relates to recording the year-end profit or loss. I'll need to review my notes to see if I can figure this out.
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Nathan
8 months ago
Okay, let me see. I think options B and D are the correct answers, since they mention specific FAM functions that need to be defined. I'm pretty confident about that.
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Mila
8 months ago
Hmm, this looks like a tricky one. I'll need to carefully read through the options and think about which two are required before recording the year-end profit or loss.
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Tess
8 months ago
Hmm, I'm a bit confused on this one. I know AFM is related to data replication, but I'm not sure if it's the same as mirroring or just copying changed blocks. I'll have to think this through a bit more.
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Brice
2 years ago
I'm going with C and D. The other options sound like they might be important for other accounting tasks, but not for this specific calculation.
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Kenneth
2 years ago
Exactly, those are the two key steps before recording the year-end profit or loss.
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Abel
2 years ago
That makes sense, we also need to have the GL99 function defined.
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Catalina
2 years ago
I agree, we need to make sure all transactions are recorded before calculating the profit or loss.
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Franklyn
2 years ago
I think C and D are the correct options.
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Honey
2 years ago
Haha, I bet the budget transactions are the key to unlocking the secret of the profit/loss calculation. Where's my crystal ball when I need it?
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Marvel
2 years ago
C) All transactions from the year to be updated are recorded.
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Sanda
2 years ago
A) The budget of the budget transactions to transfer must have the same year, period, budget number and budget version as the budget of the parent company.
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Arthur
2 years ago
Definitely C and D. The other options don't seem to be directly related to calculating the year-end profit or loss.
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Elvera
2 years ago
I'm pretty sure C and D are the right answers. Completing the budget transactions and defining the GL01 function don't seem relevant for this particular task.
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Rosalyn
2 years ago
Yes, C and D are the correct answers to complete before recording the year-end profit or loss on General Ledger.
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Estrella
2 years ago
I also believe D is important, having FAM function GL99 defined is necessary for this task.
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Sylvia
2 years ago
I agree, making sure all transactions from the year are recorded is crucial.
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Danilo
2 years ago
I think C is definitely one of the items that must be completed before recording the year-end profit or loss.
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Carmen
2 years ago
I think C and D are the correct options. You need to have all transactions recorded and the GL99 function defined to calculate the profit/loss.
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Wenona
2 years ago
Actually, it's A and D that need to be completed before you can calculate the profit/loss on General Ledger.
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Elza
2 years ago
I think A and C are the ones you need to complete before recording the year-end profit or loss.
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Gregoria
2 years ago
Yes, you're right. All transactions need to be recorded and the GL99 function must be defined.
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Raylene
2 years ago
I agree, C and D must be completed before recording the year-end profit or loss.
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Viola
2 years ago
I agree, C and D are the correct options. All transactions need to be recorded and the GL99 function must be defined.
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Gaynell
2 years ago
I believe B and D are also important. B defines the GL function and D is necessary for year-end processing.
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Yen
2 years ago
I agree with Vincenza. A ensures the budget is aligned and C ensures all transactions are recorded.
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Vincenza
2 years ago
I think A and C must be completed first.
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