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ERASED TEST, YOU MAY BE INTERESTED ONFI Practice Test 2101

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Title of test:
FI Practice Test 2101

Description:
Finance Practice Test for Certification

Author:
Music Man
(Other tests from this author)

Creation Date:
01/02/2023

Category:
Personal

Number of questions: 80
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Content:
Which of the following statements is valid for Financial Statement Document Number Ranges? Note: 3 answers The same financial document number range can be assigned to several document types Financial document number ranges must be defined for the year in which they are used All financial document number ranges can contain numbers and/or letters Financial document number ranges defined at client level should NOT overlap Financial document number ranges are defindes only at company code level.
What dunning-related data do youn mantain on the business partner master record? Note: 2 Dunning area Dunning interval Dunning key Dunning block.
You want to edit a dunning proposal. Which actions do you perform? Note: 3 Block an account Lower the dunning level of an item Change the document Block a line item Raise the dunning level of an account.
You must run the foreign currency valuation for both US GAAP and IFRS, which leads to different values for the two different accounting principles. How can you set this up in the system? Define two valuation methods and assign the ledger groups to the new valuation methods Define two valuation areas and two accounting principles with relevant links to ledgers Define two valuation methods and assign the accounting principles to the new valuation methods Define two valuation areas and two extension ledgers with relevant links to the accounting principles.
You define custom currency type Z1 for your company code. Which currency types must be stored in the Data Entry view? Note: 2 Global currency Company code currency Document currency Custom currency type Z1.
How does the system perform the normal reversal of a journal entry? It creates an inverse posting by resetting the transcation figures It creates an inverse posting by decreasing the transaction figures Creates an inverse posting by resetting the transaction figures for cleared documents Creates an inverse posting by increasing the transaction figures.
Which statements best describe extension ledgers in SAP S/4 HANA? Note: 2 Extension ledgers can be assigned their own fiscal year variant Extension ledgers can be assigned their own posting period variant Multiple extension ledgers can point to the same underlying ledger Extension ledgers can have different currencies than the underlying ledger.
You are running an international business and you want to set up seprate legal entities to run operations and perform accounting activities. Which organizational unit do you need to create for each legal entity? Company code Company Segment Consolidation Unit.
What are prerequisites for the 3-way match to work in procurement transactions? Note: 2 Invoice receipt posted in reference to the PO Goods receipt posted before the invoice receipt Invoice receipt posted before the goods receipt Goods receipt posted in reference to the PO.
Your SAP S/4 HANA system is integrated with controlling. You perform cost-of-sales accounting and you report your profit and loss per profit center. When posting a supplier invoice to a primary cost account, which field is mandatory by standard procedures? Segment Profitability segment Functional area Business area.
Which of the following is a technical year-end closing activity in SAP S/4 HANA? Balance sheet adjustments must be posted Ledger balances must be carried forward Accruals must be posted Foreign currency valuation must be posted.
When is it possible to set the open item management indicator in a general ledger account? Note: 2 When an account is set up as a recon account When an account is set up as a balance sheet account When an account has a zero balance When an account is set up as a secondary cost element.
For which account can you perform account clearing in SAP S/4 HANA? For any account that is managed as an open item basis For any GL account defined as a recon account For any account that can be posted in forgeign currency For any balance sheet account managed on a line item basis.
Which of the following steps do you typically perform during a payment run with the automatic payment program? Note: 2 Review the payment proposal exception list Mantain open item selection parameters Rank bank accounts for payment Define maximum amounts to be paid per supplier.
What is the recommended organizational unit for cost of sales accounting? Controlling area Profit center Profitability segment Functional area.
Which statements best describe a profite center? Note: 2 It is the only object from which segments can be uniformly derived It is an object for which separate balance sheet and P&L statements can be created, whether segments are being mantained or not It is an object for which separate balance sheet and P&L statements are created only when used in conjunction with segments It is the only object that can be uniformly derived during segments.
For which special GL indicator do you specify a target special GL indicator? Costumer down payment Vendor down payment request Asset document Clearing document.
What archiving step must precede archiving a supplier invoice posted directly to FI? Archive FI transaction figures Peform compression run Archive data in CO Archive accounts payables master data.
You have been asked to set up house banks as part of the implementation. What information do you need? Note: 3 General ledger account Bank control key Bank master data Company Code Payment method.
For which expenses does the system calculate accruals? Note: 2 Consulting services Insurance premium raw Material purchases Fixed asset purchases.
Which closing activities are performed for external reporting as per SAP best practices? Note: 3 Perform a top-down distribution in margin analysis Regroup recievables and payables on the balance sheet Perform flat rate value adjustments for recievables Perform valuations of open item in forgeign currency Run plan assessment cycles for profit centers.
You assign currency type 40 to your company code in ledger 0L. Which source currency types can you select? Note: 2 Document currency Company Code currency Group currency Controlling area currency.
What do you need to do to configure a new exchange rate type in SAP S/4 HANA? Note: 2 Specify a purpose for the exchange rate type Set up the relationship between currencies using translation ratios Mantain exchange rates daily Specify the company code currency as the base currency.
What do you define when configuring asset classes? Note: 3 Screen layout rules Number ranges Posting keys Transaction types Account determination.
Which prerequisites must be fulfilled to allow negative postings of journal entries? Note: 2 The posting key must be allowed negative postings The reversal accounts must be configured to allow negative postings The company code must allow negative postings The reversal reason must be configured to allow negative postings.
Which of the following statements best describe a noted item? Note: 2 It can be used to remind the user about due payments It can be accessed by the payment program It hs an automatic statistical offesting entry It updates the subledger and general ledger .
Besides using the profit center, which options does general ledger accounting with document splitting provide to assign to the posting line? Note: 2 Definition of validation rules Standard account assignment, using constants Assignment of default segments to GL accounts BAdI implementation (FAGL_DERIVE_SEGMENT).
How can you define a matching method for intercompany reconciliation? It can be automatically determined by a user exit It must be defined as a configuration It must be defined as a master data It can be either defined as master data or configuration.
You want to configure the default baseline date for the payment terms of an incoming invoice. From which date can you derive the baseline date? Note: 3 Entry date Posting date Value date Document date Goods receipt date.
What are the maintenance levels of a screen layout rule for asset master data? Note: 3 Asset subnumber Main asset number Asset class group Asset depreciation area.
What are the key reasons for preferring a new implementation of SAP S/4 HANA rather than a system conversion from SAP ERP? Note: 2 You want to deploy SAP S/4 HANA Cloud You want to clean up your system and use the SAP best practices You want to integrate the system with SAP Business Technology Platform You want to use document splitting for general ledger .
You are responsible for configuratin document splitting. What are some of the key settings? Note: 2 Document type Document number ranges Business transaction variant Field status variant.
You want to post journal entries in a special period. Which conditions must be met? Note: 2 The special period must be open for posting in the period control You must enter a posting date in the last posting period The last posting period must be open for posting in the period control The balance carry-forward to the new fiscal year must have happened.
What is shared between all deployment options for SAP S/4 HANA (Cloud, On-Premises)? Note: 3 Data model User experience Configuration options Code line Upgrade intervals.
A general ledger account is defined with the account type "Nonoperating Expense or Income". Where can this account be used? Profit and loss account that is used in overhead management accounting Profit and loss account that is used in margin analysis Profit and loss account that is used in margin analysis and profit center accounting Profit and loss account that is used in profit center accounting.
You like to set up a low value asset (LVA) management. What do you need to do? Define a base unit of measure for LVA in individual managment Specify the minimum amount for LVA at three levels: company code, depreciation area and asset class Define two separate asset classes to manage LVA using individual or collective management Specify the maximum amount for LVA at two leves: company code and chart of depreciation.
You are reponsible for implementing asset accounting. You are provided with the legacy data of various assets and their grouping information based on classifications, useful life, and depreciation terms. What configuration step would you initiate to mantain these categories in SAP? Configure depreciation keys and calculation keys Define asset classes and mantain their attributes Define depreciation areas for each category of legacy asset Define a depreciation area to transfer all the legacy data.
What are the charasteristics of a company in SAP? Note: 2 It represents separate areas of operation within a organization It can be assigned to a company code It is considered for consolidation It is responsible for costs and revenues within the organization.
You are a group cash manager interested in the North American business market. What are the personalization options available to you in SAP Fiori? Note: 2 You can adapt the launchpad color theme according to predefined values for the cash report You can create a tile group with all the apps required for your daily business for easy access You can create a tile to take you directy to the cash position of the North American busienss market You can maanger user access to relevant apps for your team without help from the administrator.
What are some of the benefits of how data is handled in SAP? Note: 2 The data is available in real time at line item detail The data is constantly auto-archived to optimize memory usage The data is summarized into higher levels of aggregates to accelerate system peformance The data is aggregated in real time from any line item table.
How do you configure depreciation areas in SAP? Note: 2 Assign each accounting principle to a depreciation area Assign depreciation area 01 to the leading ledger Ensure all depreciation areas always post to the general ledger Ensure a ledger group is assigned to each accounting principle.
To use the SAP Financial Closing cockpit, which steps are required? Note: 3 Release the task list Create task groups Define task dependencies Create a template Define the person responsible for tasks.
On which levels can you mantain field status control for business partners (BP)? Note: 2 BP category Company Code BP type BP role.
Which parameters can you specify directly when you create a new correspondence type? Note 3 Account required Number of date fields required Reason code required Company code required Document number required.
You forgot to add a new general ledger account to the financial statement version. What impact does this have on the net profit and net loss? The balance of the new account is added to the non-assigned section and is excluded from the calculation The balance of the new account is added to the notes in the financial statement item section and is included in the calculation The balance of the new account is added to the non-assigned section and is included in the calculation The balance of the new account is added to the notes in the financial statement item section and is excluded from the calculation.
In your system, you currently perform manual outgoing payments and you want to use the automatic payment program. Which new settings must you mantain as part of the configuration of the automatic payment program? Note: 2 Paying company code Payment terms Payment run Bank determination.
You perform foreign currency valuation for open items of your supplier accounts. The valuations will be used only for period end reporting and should then be reversed. What account does the system use to post the valuation difference? Adjustment GL account for foreign currency Individual supplier accounts with special GL indicator Alternative reconciliation GL accounts Supplier reconciliation GL accounts.
The country that your company code operates in has defined a new VAT tax rate percentage of %15, which will become effective at the start of the next fiscal year. You create the new VAT codes O5 and I5 to cover this requirement. How can you ensure that users use the new tax codes when entering tax relevant documents starting next year? Create a validation that issues an error when the user uses a deprecated VAT code when entering documents with a posting date in the new year Enter the new tax codes as default for users who have authorization to post to general ledger transactions after balance carry forward is done Enter the appropiate new VAT code in the tax category field of the relevant expense and revenue GL accounts after the balance carry forward is done Create a substitution that changes the deprecated VAT code to the relevant new one when entering documents with a posting date in the new year.
Which of the following should you consider when defining asset number ranges? Note: 2 Asset number ranges are defined at chart of depreciation level Each asset class can have either an internal or external number range Asset number ranges are defined for asset classes and are company code specific Each asset number range must be assigned to a unique asset class.
Which parameter indicates that a line item can be dunned only with restrictions? Dunning key Dunning grouping Dunning area Dunning block reason.
How does the system determine the correspondence type of a payment notice? According to the reason code, as long as all tolerance groups carry the same correspondence type According the tolerance group, as long as all tolerance groups carry the same correspondence type According to the reason code, as long as all reason codes carry the same correspondence type According to the tolerance group, as long as all reason codes carry the same correspondence type.
You want to create a substituion in financial accounting. Which parts do you have to define for each step of the substituion? Note: 2 Check statement Prerequisite statement Substituion values Callup point.
Which of the following closing activities is a so-called technical step? Perform asset depreciation run Perform valuations of open items in foreign currency Process purchase order accruals Close the previous periods on Materials Management (MM).
You are asked to explain how assets under construction work in SAP? What should you highlight? Note: 2 It's possible to post special tax depreciation and investment support for assets under construction It's impossible to use assets under construction with Investment Management It's possible to calculate and post depreciation in the balance sheet depreciation area for assets under construction It's possible to post credit memos, even after assets under construction are fully capitalized.
What are the features of the Accrual Engine in SAP? Note: 2 All accrual calculations must be reviewed and approved before posting Accrual postings with a maxmimum of two line items are supported All currencies of the general ledger are supported The fiscal year variant of the general ledger is supported.
You want to configure the tax calculation procedure. What are the main elements you need to define? Note: 3 Tax code Account key Condition type Tax category archive Sequence of steps.
Which of the following are valid settlement recievers, when you perform settlement for an asset under construction, on a line item basis? Note: 2 Functional area Cost center Profit center Fixed asset.
What does the document splitting function do? Note: 2 It enriches all relevant balance sheet account lines with the defined splitting charasteristics It enables the automatic creation of additional posting documents for each defined splitting charasteristics It ensures that you can create complete financial reports per profit center if it is required by the business It enriches all customer and vendor line items with the defined splitting charasteristic in the relevant subledgers.
Which information is part of the bank master data? Note: 2 Information for electronic payment transactions Data medium exchange (DME) details Address details Control data.
Which date is used to determine the depreciation start date Baseline date Posting date Asset value date Acquisition date.
What can you control with the reason code in Accounts Recievables? Note: 3 The type of payment notice sent to a customer The document type of the payment The special GL indicator for the down payment The account where a residual item is posted The exclusion of disputed residual items from credit limit checks.
You are starting the financial year-end-process in asset accounting in SAP. What are the year-end closing program checks for asset accounting? Note: 2 Asset master data is complete and without errors The fixed asset fiscal year changes is complete Posting periods are closed for asset GL accounts Depreciation is posted in full for all assets.
Which elements define the integration of asset acquisitions with general ledger? Note: 2 Asset class Valuation area Depreciation keys Depreciation area.
How does SAP support the treatment of taxes? It checks the tax codes and automatically updates the tax rates based on changes by the tax authorities It checks the tax codes and automatically updates the procedure It cheks the tax amount entered and automaticall calculates the tax It posts the tax amount to tax accounts It performs the tax adjustments for cash discounts and other forms of deductions.
Which fields of a financial accounting document influence the automatic payment program? Note: 3 Payment method Terms of payment Baseline date Payment transaction Payment type.
How does an automatic intercompany asset transfer work? It does NOT allow a transfer to happen within a single legal entity It assumes that the transfer happens between two independent legal entities It determines the relationship type automatically, using the company ID It determines the relationship type automatically, using the company code.
What does the document type control? Note: 3 Which account types are allowed for postings Wether postings to secondary cost accounts are permitted Wether negative postings are permitted Wether postings to special periods are permitted Which posting keys are allowed for postings.
What are some features of SAP HANA? Note: 2 SAP HANA is optimized to organize data using column stores SAP HANA is built on a hierarchical data model arquitecture SAP HANA is optimized to work with aggregates and index tables SAP HANA allows transactional and analytical processing from same tables.
Which of the following statements best describe how customer down payments are integrated with Sales and Distribution (SD)? A down payment request is created as an SD sales order, which is automatically posted in FI as a noted item A down payment request is created as an FI noted item, which automatically generates an SD sales order A down payment request is created as an FI noted item, which automatically generates an SD billing document A down payment request is created as an SD billing document, which automatically posted in FI as a noted item.
Which field can you change in a posted invoice? Tax code Special GL indicator Statistical internal order Baseline date.
What is the difference between the ledger approach and the accounts approach to parallel valuation in asset accounting? Unlike the ledger approach, in the accounts approach, you define a technical clearing account for integrated asset aquisitions Unlike the ledger approach, in the accounts approach, you assign a separate set of accounts for each accounting principle Unlike the accounts approach, in the ledger approach, you mantain additional depreciation areas to post delta valuation of each accounting principle Unlike the accounts approach, in the ledger approach, you assign a ledger group to every depreciation area.
Which charasteristic maps the business partner to the customer and supplier account groups? Business partner role Business partner account group Business partner grouping Business partner view.
You need to post customer invoices through an interface with a non-stop system. You want to define a new document type with a specific document number range that matches the document numbers of the source system. How do you define the document number range? you can use the internal or external number assignment You must use the internal number assignment You must use the external number assignment You can use internal or external number assignment, but only if it is continuous.
You are configuring the asset-related postings of depreciation areas in asset accounting for a company code that uses the ledger approach to parallel valuation. Which of the following settings would lead to an error? Area posts APC immediatley, depreciation periodically Area posts in real time Area posts depreciation only Area does not post.
In your SAP system, you report financial values for two separate accounting principles. You post an acquisition for an asset that is capitalized in a single accounting principle. If you use the application to post integrated asset acquisitions, how many documents will the system post? 1 2 3 4.
In your SAP system, you want to archive the GL accounts that are not used by the business in any company code. What are prerequisites to archive all data of a GL account? Note: 3 There are no transaction figures for the account Set the deletion flag in the chart of accounts data of the GL account The account is not used in any automatic account determination Transaction figures are older than a customizable amount of years Set the deletion flag in the company code data of the GL account.
You are getting ready to post your first simple general ledger document using the SAP Fiori app for posting in a test environment. What configuration items do you need to set up to post a simple document? Note: 2 The posting period variant must be created and assigned Number range and document types must be mantained Automatic account determination must be mantained Line item text templated must be mantained.
What items are NOT cleared by the automatic clearing program? Note: 3 Items with withholding tax Items with sales and use tax Noted items Items with value-added tax Statistical postings.
What steps are required to create a substituion in financial accounting? Note: 3 Define the substitution rule with its different steps using the formula editor Specify an authorization group Select the correct call-up point Activate the substitution rule Assign the substitution rule to the controlling area.
How can you create an asset under construction? Note: 2 Automatically, when creating an investment measure Automatically, when settling capex costs from an internal order Automatically, when settling capex costs from a WBS element Manually (transaction AS01), using a specific asset class.
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