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GV-Chart of Accounts (vidhyadhar)
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GV-Chart of Accounts (vidhyadhar) Description: GV-Chart of Accounts (vidhyadhar) Author:
Creation Date: 15/11/2008 Category: Computers Number of questions: 28 |
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The Maximum number of General Ledger Accounts which can created in SAP for a single Company Code is (assumption: You use Numeric Codes only) 100000 999999 9999999999 Infinity. The Following details are mandatory while configuring the Chart of Accounts in SAP A Character Variant which is exactly four Characters long A textual description relating to the Chart of Accounts An alphanumeric variant which cannot exceed four characters of length Maintenance Language an Option to maintain Cost Elements Manual / Automatic Maximum Length which each GL Account can comprise of Posting Keys pertaining to each GL Account Consolidation Reference( left Blank if consolidation feature is not needed). How many Chart of Accounts can a Company Code utilize? (More than one answer may be correct) An Operating Chart of Accounts A Group Chart of Accounts A Country Chart of Accounts Any Combination ( from a set of operating COA , Group COA and Country COA) Two Operating Chart of Accounts (One for External Reporting and one for Mangagement Reporting) An Operating Chart of Accounts, a Group Chart of Accounts and a Country Chart of Accounts. One of the options given below is correct: If the Operating COA of two company codes belonging to a Group are not different, then A Group Chart of Accounts must be used for Internal Reporting A Group Chart of Accounts must be used for Cross Company Code Controlling Two operating COAs must be used , one for each Company Code Rent Account with a Code (say ,15879 ) in the first Company Code would not be different in the second Company Code also. Consolidation of Accounts between two Company Codes not using the same Operating Chart of Accounts would take place through the use of one of the following: Group Account Number in the Company code Segment of the Operating Chart of Accounts Alternative Account Number in the Chart of Accounts Segment of the Operating Chart of Accounts Group Account Number in the Chart of Accounts Segment of the Operating Chart of Accounts Alternative Account Number in the Company Code Segment of the Operating Chart of Accounts Neither a Group Account Number nor an Alternative Number as Automatic Consolidation is possible through Automatic / Manual Cost Elements configured while defining the Chart of Accounts. As each Chart of Accounts adopts the Variant Principle and defined at the Client Level, the same Chart of Accounts can be used by more than One Company Code False True. One or more of the following statement(s) may be correct There is a N:1 relationship between the Alternative Account Number and the Account Number defined in the Operating Chart of Accounts There is a 1:1 relationship between the Alternative Account Number and the Account Number defined in the Operating Chart of Accounts There is a 1:1 relationship between the Group Account Number and the Alternative Account Number There is a 1:N relationship between the Group Account Number and the Account Number defined in the Operating Chart of Accounts. A Country Chart of Accounts is assigned directly to a Company Code False True. Pick out the correct statements: General Ledger Accounts Must be Numeric Codes Can be Alphanumeric are assigned Internally as Numbers so that there is adequate control can be assigned Externally or Internally can never be assigned Externally are always assigned Externally without overlap of number range are always assigned Externally and may have overlapped number ranges. Pick out the incorrect statement(s) A General Ledger Account has a Chart of Accounts Segment and a Company Code Segment A General Ledger Account has a Chart of Accounts Segment , a Company Code Segment and a Sales Area Segment ( if it Involves Customer related Accounts) A General Ledger Account has a Chart of Accounts Segment , a Company Code Segment and a Purchase Organization Segment ( if it Involves Vendor Reconciliation Accounts) A General Ledger Account can be Created Centrally A General Ledger Account is said to be maintained Centrally if it can be Created from the Sales Area Segment ( for Customers) and / or Purchase Organization Segment ( for Vendors) A General Ledger Account can be Created first in the Chart of Accounts Segment and then completed by creating the relevant details in the Company Code Segment A General Ledger Account can be Created first in the Company Code Segment and then completed by creating the relevant details in the Chart of Accounts Segment. A General Ledger Can be Blocked at the Chart of Accounts Level at the Company Code Level. At the Chart of Accounts level , a General Ledger Account can be Blocked for Creation Blocked for Planning Blocked for Posting. At the Company Code level , a General Ledger Account can be Blocked for Creation Blocked for Planning Blocked for Posting. Pick out the incorrect statement(s) Details for a General Ledger Account defined at the Chart of Accounts Segment are not unavailable to all Company Codes Details for a General Ledger Account defined at the Company Code Segment are not unavailable to all Company Codes. Creation of a GL Account Group is mandatory is not mandatory. Does the system allow you to define a Retained Earnings Account even without creating the related General Ledger Account ( for retained earnings) ? No Yes. Pick out the correct statement: You can create a General Ledger Account without indicating if it is a P& L Account or a Balance Sheet Account You cannot create a General Ledger Account without indicating if it is a P& L Account or a Balance Sheet Account. Pick out the correct option: Out of the Six tabs (screens) which you see while creating a General Ledger Account, Two tabs belong to the Chart of Accounts Segment One tab belongs to the Chart of Accounts Segment Three tabs belong to the Chart of Accounts Segment. Pick the right option: Let us assume that you are creating a Expense / Revenue related General Ledger Account. The field P & L Acct.Type appears in the Chart of Accounts Segment irrespective of whether you have configured a retained earnings account in IMG if you have configured one and only one retained earnings account in IMG if you have configured more than one retained earnings account in IMG. A Chart Of Accounts is essential for posting GL related Transactions False True. Pick out the correct one from the set of statements furnished below: A GL Account with Line item Display Activated is necessarily managed on Open Item Basis A GL Account with Open item Management Activated necessarily requires Line Item Display activated. Pick out the correct one from the set of statements furnished below: When the check box 'Balances in Local Currency only' remains unselected for a given GL Account unselected, TCode FS10N allows you to display updated balance figures both in the document currency /currencies as well as local currency When the check box 'Balances in Local Currency only' remains unselected for a given GL Account , TCode FS10N allows you to display updated balance figures in the document currency /currencies only When the check box 'Balances in Local Currency only' remains unselected for a given GL Account , TCode FS10N allows you to display updated balance figures in the company code currency only. Which of the following is true? If the Account Currency in a GL Account is defined as the Company Code Currency, Document Postings for the GL account is possible in the Company Code Currency only If the Account Currency in a GL Account is not defined using the Company Code Currency, Document Postings for the GL account is possible in any currency ( Local Currency / Foreign Currency) If the Account Currency in a GL Account is defined as the Company Code Currency, Document Postings for the GL account is possible in any currency ( Local Currency / Foreign Currency). Pick out the correct statements: The System does permit you to save the GL account if the user leaves the Account Currency field blank The System does permit you to save the GL account if the Account Field Status Group field is blank The System may permit you to save the GL account if the Sort key is left blank. When you create a GL Account for Cash Journal, you activate the field 'Post Automatically only' True False. The Following accounts in the GL are Reconciliation Accounts Vendor Customer Asset Cash / Bank. The system updates the individual subledger Accounts when you use Reconciliation Accounts in line items during document posting False True. Match Codes help in easy traceability of GL Accounts since they can be searched using many criteria True False. |