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ERASED TEST, YOU MAY BE INTERESTED ON SAP FI (Part I)Unit 4: Posting Control (1)
COMMENTS STATISTICS RECORDS
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Title of test:
SAP FI (Part I)Unit 4: Posting Control (1)

Description:
Doc. Reversal, Payment Terms and Cash Discounts, Cross Company Code.

Author:
Sameer Nirmal
Other tests from this author


Creation Date:
31/07/2012

Category: Competitive Exam

Number of questions: 49
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Content:
Document with cleared items can be reversed if the document is reset. True False.
When you reverse a document, you have to enter reversal reason that explain the reversal. True False.
The incorrect document must first be reversed. True False.
The system provides a function to reverse G/L, customer, and vendor documents both individually or in a mass reversal. True False.
A document can be reversed by : Normal reversal Posting Negative Posting.
The following prerequisistes must be fulfilled to enable negative postings: The company code permits negative postings. The reversal reason must be defined for negative reversal.
Document Type explicitly allows negative postings. True False.
The terms of payment are used to define : Baseline date for due date calculation Cash discount periods Cash discount percentage rates.
The terms of payment are : Assigned to a customer/vendor master record Defaulted by the system or entered by the user Used in transaction line items to determine payment conditions.
_______ enable the system to calculate a cash discount and invoice due date. Baseline date Terms of Payment.
You can enter terms of payment in the ______ of a customer/ vendor master record. Company Code Segment Sales area segment Purchasing organization segment Chart of accoutn segment.
If the invoice is created in Financials, the terms of payment from the ________ are defaulted. Company Code Segment Sales area segment purchasing organization segment.
The cash discount is granted independently of the payment period/date. True False.
________ The Terms by which the cash discount can be taken. Cash discount terms Cash discount percentage rate Baseline date.
To activate the payment terms on the non-invoice related credit memos, enter a "______" in the "Invoice Reference" field when entering the document. V M X.
Credit memos can be linked to the original invoice by entering the invoice number in the "Invoice Reference" field during document entry. True False.
The day limit is the non calendar day to which the terms of payment are valid. True False.
The account type defines the subledger in which terms of payment can be used. True False.
The payment method is generally entered in the customer or vendor document. True False.
Block Keys can be entered in line items, account and Payment terms. True False.
A Payment method is entered in the line items only. True False.
The _________ is the starting date the system uses to calculate the invoice due date. Baseline date Due date.
__________ used to overwrite the calendar day of the baseline date. Due date Fixed Day.
Default for baseline date are : No default Document date Posting date Entry date.
You can enter upto ______ cash discount periods in the SAP System. 2 3 4.
Day limits enable date-specific terms of payment in one terms of payment key. True False.
________ is the baseline date up to which the payment term version applies. Day limit Due date.
The percentage rates specified must total _____. 100% 10% 50%.
To make a Installment Payment, you have to define Installment number Percentage Payment terms for installments.
_________ where tax on sales and purchases is not included. Net Cash discount base Gross Cash discount base.
The system creates a line item for each installment specified. True False.
You can not change the cash discount after you post the invoice. True False.
The cash discount amount is entered manually only. True False.
When an open item on a customer or vendor account is cleared, the possible cash discount is posted automatically to an account for ______ Cash discount expense Cash discount received Cash discount income.
The cash discount we offer to the customers would ______. Expense Income.
When you use the net procedure, the cash discount amount is automaticallyposted when the invoice is posted. True False.
The cash discount clearing account must be managed on an open item basis. True False.
Which cash discount accounts are used in the net procedure? Cash discount clearing account Cash discount loss account Cash discount revenue account Cash discount expense account.
The tax code is used to: Verify the amount of tax Calculate the amount of tax Calculate additional tax portion verify the tax type Determine the G/L account Show tax correctly on tax forms.
The system calculate the tax amounts from Base amounts with a cash discount only. True False.
Acquisition tax codes takes care of double posting. True False.
_________ must be defined in every company code before a cross-company code transaction may be carried out. Clearing accounts Expense accounts.
_____ must be assigned to the clearing accounts to identify their account types. Document Type Posting Key.
The document number is a combination of the document number of the first company code, the first company code number, and the fiscal year. True False.
Cross-company code documents may be reversed. True False.
In Cross-Company code transaction 2 document posted with 1 company code number. True False.
The company codes of a cross-company code transaction can have different local currencies. True False.
Cross-Company code clearing accounts must be G/L Accounts. True False.
A cross-company code transaction involves at least two documents. True False.
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