SAP Fi - Practice Test - 1

The use of business area is optional. True. False.

IBAN: International Bank Account has follwoing Characteristics IBAN: International Bank Account has follwoing Characteristics. Internationally recognized and unique number that identifies a specific bank account. designed by the ISO & ECBS to facilitate the handling of international payment transactions. Contains a Maxmiimum of 34 alphanumeric characters. Structured differently in every country. usuall contains the country code, bank key, and account number.

The IBAN can only be entered in a vendor or customer master record. True. False.

If the "Activate IBAN without Bank Account Number" indicator is active in Customizing then the user can manually enter Bank Account Number. True. False.

Bank master recordsare stored centrally in the bank directory. True. False.

Every record is identified by the Bank Country & Bak Key (8 Digit). True. False.

Bank master record includes address data and control data. True. False.

Banks that are used by your company are defined as House Banks (at Company Code Level). True. False.

House Bank contains. Bank Master data. Information for electronic payment transactions. the bank accounts for each house bank. the general ledger accounts for each bank account.

Bank master data can be created by the following ways. customer/vendor master record orin the customizin for house banks. using Create bank transaction in AR/AP master data menu. Imported from disk, country specific transfer to bank data. Lockbox function, creating a batch input, which automatically updates customer banking information in master record.

In the customer/vendor master record, "Bank type field' is used to distinguish between different banks. True. False.

Each Bank account is represented in the SAP ERP System by a combination of House Bank ID & Account ID. True. False.

A combination of House Bank ID & Account ID entered in a G/L account that represents the bank account in the general ledger. True. False.

The accounts can be identified by an Account ID that is unique for each House Bank. True. False.

The Bank account data contains. number of the account at your bank. Account Currency. relevant G/L Account. None of the Above.

Which of the statements are true?. A G/L Account must be created for each bank account. G/L is assigned to bank account and vice versa. Both (G/L & Bank account) must have the same account currency. None of the Above. All of the Above.

Consider the following sentences about the chart of accounts segment 1. It contains the Company Code, Account Number and the field status group. 2. Whenever you need to enter information for a company code for an account number, you have to type again the information relating to chart of accounts segment 3. Texts can be displayed using the program "Account assignment manual" (RFSKTH00). 4. Key words facilitate the search for account numbers. Which of these combinations are false? (Note : we can have more than one correct sentence. Please select the sentence you think they are correct). 1. 2. 3. 4. None.

What of these alternatives are considered master data? (Note : we can have more than one correct sentence. Please select the sentences youthing they are correct). G/L Accounts. Vendor. Customer. Asset. Chart of Accounts.

What can we define into the chart of accounts in customizing transaction (OB13 Transaction)? (Note : we can have more than one correct sentence. Please select the sentence you think they are correct). Length of the company code. Length of the G/L Account number. Blocking/Unblocking chart of accounts. Desctiption. Maintenance language.

About evolution in the world of business, we can affirmate that. The internet revolution culd turn available to companies the use of ERP Functionality. The internet has driven to a collaborative environment where value is created through collaboration within business communities. In the first the companies were looking at Cost Reduction and Efficiency through integration of business communities. The next generation of "New Dimension" products appeared taking functionality out of the company, to bring value through extending the intenet revolution.

The Payment process consists of four steps. Generating a proposal. Scheduling the payment run. Defining the payment method. Setting parameters. Printing the payment media.

Business Areas can cut accross company codes. True. False.

You can assign a Business Area to a Company Code directly. True. False.

Which of the following are the predefined fiscal year variants. 01, K0, K1. AA, AM,. R1, K2, K3. FY, F1.

For what purposes are year-specific fiscal year variants are used. If the start and end dates of the posting periods differ from year to year. If one fiscal year has fewer posting periods than the other (shortened fiscal year). Because it is the default for every company code.

What are the tools used form maintaining the exchange rates. Inversion. Base Currency. Exchange Rate Spread. Exchange Rate Type.

Currency keys are used to define currencies in mySAP ERP. True. False.

Which of the following Exchange Rate types are used in mySAP ERP. Average Rate (M). Bamk Buying Rate (G). Bank Selling Rate (B). Base Currency Rate (B).

Where can we find and define the base currency in mySAP ERP (Give IMG Path) (use -> to seperate the path).

What are the properties can be set to a field status definition. Hide. Display. Required Entry. Optional Entry. Suppress.

Different Company Codes can use the same Chart of Accounts. True. False.

The ______________ controls the field display for the Company Code data in the G/L Account Master Record.

_______________ contains the total of the transaction figures for the corresponding sub-ledger accounts.

Reconciliation Accounts are updated on a daily basis. True. False.

You can always display the line items of a G/L Account. True. False.

G/L Accounts that are managed in local currency can only be posted in this currency. True. False.

G/L account with open item management must have line item display. True. False.

G/L Accounts that are managed in a foreign currency can only be posted to in this foreign currency. True. False.

Because the Company Code use different operational Chart of Accounts, you cannot carry out Cross-Company Code Controlling. True. False.

A Complete Customer Account consists of the following parts. General Data. Company Code Segment. Sales Area Segment. Material Management Segment. Functional Area Segemnt.

A Complete Vendor Account consists of the following parts. General Data. Company Code Segment. Purchasing Organization Segment. Raw aterials Management.

The Customer/Vendor Accounts can be maintained centrally or de-centrally. True. False.

One number range can only be assigned to one Account Group. True. False.

__________number assignment means that the mySAP ERP system assigns the number automatically.

You maintain a Customer/Vendor master record ____________, if you create the Financial Segments at the same time as the Sales Order Management/Purchasing Management Segments.

General Ledger Accounts have ____________ number assignment; Customer and Vendor Master Records can have ____________ and ____________ number assignment. (Use comma to seperate).

In Financial Accounting, which of the following are the sub ledgers of SAP’s General Ledger. Accounts Payable. Management Accounts. Assets. Accounts Receivable.

Accounting data that is posted for internal reporting purposes are posted in ___________, where as accounting data for external financial statements are posted in ____________. Controlling Accounting and Management Accounting. Management Accounting and Financial Accounting. Financial Accounting and Management Accounting. Management Accounting and Controlling Accounting.

Which of the following are TYPICAL steps in the procure to pay process.?. Receive Invoice. Goods Issue for production. Purchase Requisition. Place the Purchase Order.

When a Manager receives a bill for the goods received, the material is posted to stock which increases the Assets in the Balance Sheet. True. False.

Cross-Company code clearing accounts must be G/L Accounts. True. False.

Name the possible field status definitions in the order of priority. Suppressed, Display, Required, Optional. Display Suppressed, Optional, Required. Required, Optional, Suppressed, Display. Displayed, Required, Optional, Suppressed.

A General Ledger Account consists of which segments. Company Code, Functional area. Chart of Accounts, Functional area. Chart of Accounts, Company Code. Chart of Accounts, Business area. Company Code, Business area.

A posting period variant must contain at least one line with the entry. (+) Valid for all Accounts. (a) Asset Accounts. (s) General Ledger Accounts. (d) Customers Account.

Which cash discount accounts are used in the net procedure?. Cash discount clearing account and cash discount loss account. Cash account and discount account. Cash account and cash discount account. P&L account and cash discount account.

How many number ranges can be assigned to the document types simultaneously?. Three. Four. One. Five.

Name the types of taxation that can be represented in the mySAP ERP system. Input tax, output tax. Country specific and Company Specific. Federal/ Country, State/ Jurisdiction.

The mySAP ERP system generates the exchange rate differences automatically. True. False.

Document number ranges must not overlap. True. False.

A clearing document must have at least tow line items. True. False.

A _________________ clears the invoice and the payment to create a new open item. Residual item. Payment document. Clearing document.

Because the company codes use different operational charts of accounts, you cannot carry out cross-company code controlling. True. False.

The ______________ controls the field display for the company code data in the G/L account master record. Account group. Field status variant. Field status group.

______________ contains the total of the transaction figures for the corresponding sub ledger accounts. Account Group. Account Balance. Reconciliation account.

What are the most important control functions of the document type?. Posting key, Document header. Number ranges for the document numbers, account types permitted for postings. Account Group, Sort key.

General ledge account have _______ number assignment; customer and vendor master records can have __________or _________ number assignment. External, Internal or External. Internal, Internal or External.

The chart of depreciation is defined at client level. True. False.

In mySAP ERP currencies are defined using _________. General Settings. Currency types. Currency key. Automatically defined based on Country Currency.

Tax amounts of cross-company code transaction are automatically distributed to the company codes in which the expenses/revenues occurred. True. False.

Various company codes can be assigned to the chart of depreciation. True. False.

The authorization group in the posting period variant applies only to authorization for posting in special periods. True. False.

Name the three commonly used exchange rate types. Average Rate, Bank Rate, Exchange Rate. Buying Rate, Selling Rate, Base Currency Rate. Base Rate, Minimum Exchange Rate, Average Rate. Average Rate (M), Bank Burying Rate (G), Bank Selling Rate (B).

A Cross-company code transaction consists of at least 2 documents. True. False.

Name 2 elements that influence the field status of document fields. Field status variant, account group. Field status group, posting keys. Field status group, account group.

At the beginning of a new fiscal year, the system always starts the document number assignment again at the start of the number range. True. False.

Posting period are opened and closed automatically. True. False.

Name two possible ways to reverse document in mySAP ERP financials. Document reversal, adjustment posting. Reversal entry, negative postingReversal entry, negative posting.

Clearing a credit memo with an open invoice is an example of___________. Account clearing. Documents clearing. Clearing with customers. Clearing with vendors.

Which cash discount accounts are used in gross procedure?. Cash discount, credit discount. Cash discount revenue account, cash discount expense account.

The automatic clearing program cannot carry out automatic postings. True. False.