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ERASED TEST, YOU MAY BE INTERESTED ON SAP FI PART 1
COMMENTS STATISTICS RECORDS
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Title of test:
SAP FI PART 1

Description:
UNIT 4: TAXES

Author:
M.P RAO
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Creation Date:
04/03/2014

Category: Competitive Exam

Number of questions: 26
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Content:
SAP SUPPORTS FOLLOWING TAX SYSTEMS. WHICH ONE(S) INCORRECT TAX ON PURCHASE/SALES US SALES TAX ADDITIONAL TAXES JURISDICTIONAL TAXES WITHHOLDING TAX.
WHEN POSTING INVOICES TAXES ARE LEVIED ON.
TYPES OF TAXATION THAT CAN BE PROCESSED IN SAP ERP SYSTEM. FEDERAL/COUNTRY LEVEL STATE/JURISDICTIONAL LEVEL BOTH ARE CORRECT.
SAP SUPPORTS THE TREATMENT OF TAXES AS FOLLOWS CHECKS THE TAX AMOUNT ENTERED POST THE AMOUNT TO TAX ACCOUNT PERFORMS TAX ADJUSTMENTS FOR CASH DISCOUNTS NONE OF THE ABOVE ALL OF THE ABOVE.
IF TAX BASE AMOUNT IS NET AMOUNT TAXABLE EXPENSES OR INCOME ARE MINUS CASH DISCOUNT. TAXABLE EXPENSES OR INCOME ARE PLUS CASH DISCOUNT.
WE DEFINE TAX BASE AMOUNT FOR EACH COMPANY CODE TRUE FALSE.
OUTPUT TAX IS LEVIED ON NET INVOICE AMOUNT BILLED BY THE VENDOR TRUE FALSE.
WHEN INPUT TAX IS NOT DEDUCTIBLE REVERSE THE TAX AMOUNT POST IT TO A SEPERATE ACCOUNT DISTRIBUTE TO THE G/L ACCOUNT OR ASSET LINE ITEM ALL OF THE ABOVE NONE OF THE ABOVE.
TAX CALCULATION PROCEDURE IS ASSIGNED TO EVERY COUNTRY FALSE TRUE.
SAP SYSTEMS DELIVERS PRE-CONFIGURED TAX CALCULATION PROCEDURE TRUE FALSE.
TAX CALCULATION PROCEDURE CONTAINS TAX CODES TAX TYPES ORDER STEPS JURISDICTION CODE ACCOUNT KEY TAX ACCOUNT.
ACCOUNT KEY DETERMINES AUTOMATIC DETERMINATION FOR THE TAXES CONCERNED. TRUE FALSE.
TAX CODE IS USED FOR FOLLOWING PURPOSE. PICK THE INCORRECT ONE VERIFY TAX AMOUNT CALCULATE TAX AMOUNT CALCULATE ADDITIONAL TAX PORTION VERIFY TAX TYPES DETERMINE G/L ACCOUNT SHOW CORRECT TAX ON TAX FORMS DEFINES ACCOUNT DETERMINATION OF TAX.
WHAT IS THE MAIN CONNECTION TO THE TAX CALCULATION WHILE POSTING A DOCUMENT.
TAX CODE IS LINKED TO COUNTRY KEY ONLY COUNTRY KEY AND JURISDICTION CODE EITHER OF COUNTRY KEY OR JURISDICTION CODE NONE OF THE ABOVE JURISDICTION CODE ONLY.
IN CONFIGURATION WE CHOOSE WHETHER DOCUMENT DATE OR POSTING DATE IS VALID FOR TAX CALCULATION TRUE FALSE.
TAX CODE CONTAINS TAX RATES TAX TYPES TAX AMOUNT ALL OF THE ABOVE.
TAX RATES ARE ASSIGNED TO TAX CODE TAX TYPES TAX AMOUNT NONE OF THE ABOVE.
A TAX CODE MAY HAVE ONLY ONE TAX RATES ENTERED FOR ONE TAX TYPE. TRUE FALSE.
WHEN A ZERO TAX RATE G/L POSTING IS POSSIBLE ITEMS ARE TAX- EXEMPT TRANSACTION IS TAX- EXEMPT NONE OF THE ABOVE ALL OF THE ABOVE.
DEVIATION BETWEEN TAX CALCULATED AND TAX AMOUNT, SYSTEM ISSUES FOLLOWING MESSAGES. NO MESSAGE ERROR MESSAGE WARNING MESSAGE EITHER ERROR OR WARNING MESSAGE.
WHEN TAX IS CALCULATED IT IS POSTED TO. TWO OPTIONS ARE CORRECT A SPECIAL TAX ACCOUNT RELEVANT EXPENSE/REVENUE ACCOUNT CLEARING ACCOUNT SUB LEDGER ACCOUNT.
TAX ACCOUNT DETERMINATION CAN BE BASED ON TAX CODE OR ACCOUNT KEY TAX AMOUNT OR POSTING KEY.
TO ENABLE AUTOMATIC TAX ACCOUNT DETERMINATION WE HAVE ASSIGN FOLLOWING DATA TO THE ACCOUNT KEY POSTING KEYS AND FIELD DETERMINING RULES. ACCOUNT ASSIGNMENT KEYS AND TAX CODE DETERMINING RULES.
EXCHANGE RATE DIFFERENCE FOR TAX ITEMS IS ENTERED MANUALLY FALSE TRUE.
PROPERTIES OF TAX ACCOUNT DETERMINES WHETHER TAX IS INPUT OR OUTPUT TAX. TRUE FALSE.
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