2. Accounts

Question 1

What are Metric Accounts?

1. Accounts used to hold any kind of numerical data.
2. Accounts used for data input on metric reports.
3. Accounts used for calculating financial ratios and nonfinancial metrics. Thus, they require formulas when created and are based on previously defined accounts e.g. GL accounts.

Answer 1

3. Accounts used for calculating financial ratios and nonfinancial metrics. Thus, they require formulas when created and are based on previously defined accounts e.g. GL accounts.

Question 2

What are Custom Accounts?

1. Accounts used to hold any kind of numerical data.
2. Accounts created by users.
3. Accounts used for calculating financial ratios and nonfinancial metrics. Thus, they require formulas when created.

Answer 2

1. Accounts used to hold any kind of numerical data.

Question 3

What of the below are true about Assumption Accounts?

1. They are global rates or drivers that apply to all Levels.
2. They drive calculations in other accounts.
3. Assumption Accounts syntax begins with ASSUM. instead of ACCT.

Answer 3

1. They are global rates or drivers that apply to all Levels.
2. They drive calculations in other accounts.
3. Assumption Accounts syntax begins with ASSUM. instead of ACCT.

Question 4

Where in a model can you find Modeled Accounts and Cube Accounts?

1. In Modelled Sheets and Cube Sheets, respectively.
2. In Model Management, under the Accounts section.

Answer 4

1. In Modelled Sheets and Cube Sheets, respectively.

Question 5

Modeled Accounts exist in modeled sheets and hold data that calculates related values. True or False?

Answer 5

True

Question 6

Cube Accounts are standard, metric, or assumption accounts that exist in cube sheets. True or False?

Answer 6

True

Question 7

Which of the below Accounts have rollup accounts (aka parent accounts)?

1. GL Accounts
2. Metric Accounts
3. Modelled Accounts
4. Cube Accounts
5. Custom Accounts
6. Assumption Accounts

Answer 7

1. GL Accounts
2. Cube Accounts
3. Custom Accounts
4. Assumption Accounts

Question 8

What elements are included in Formula Assistant?

1. Functions
2. Accounts
3. Modifiers
4. Version Selection

Answer 8

1. Functions
2. Accounts
3. Modifiers

Question 9

What is true about root accounts?

1. Can be deleted.
2. Can change the account name and code.
3. Can change the Type and Balance Type.
4. Root Accounts are pre-defined GL accounts.

Answer 9

2. Can change the account name and code.
3. Root Accounts are pre-defined GL accounts.

Question 10

A contra account is an account with a balance that is the opposite of the normal balance. True or false?

Answer 10

True

Question 11

A contra account is an account with a balance that is the opposite of the normal balance. Therefore, you should enter data with the opposite sign when planning contra accounts. True or false?

Answer 11

True

Question 12

What happens when you add a child account to another child account?

1. The data transfers to the new child account.
2. The data stays with the current account.
3. The data gets deleted.

Answer 12

1. The data transfers to the new child account.

Question 13

What happens when you delete a child account that contains data?

1. The data gets deleted.
2. The data moves to the parent account.
3. The data moves to a sibling account.

Answer 13

2. The data moves to the parent account.

Question 14

You should import accounts with a flat hierarchy. True or false?

Answer 14

False (you should use rollup accounts with child accounts instead).

Question 15

Workday supports multiple Chart of Account hierarchies. True or false?

Answer 15

True (by using mapping tables).

Question 16

Never import data to the Net Income or Year-to-Date Income/(Loss) accounts. Apply default formulas to these accounts to verify that the data in all other accounts imports correctly. True or false?

Answer 16

True.

Question 17

You cannot modify an accounts type. If you make an error, delete the account and begin again. True or false?

Answer 17

True