SAP FI TFIN50-1 UNIT 1

The client is the highest level in the mySAP ERP system hierarchy. False. True.

The Company Code is the highest level in the mySAP ERP system hierarchy. True. False.

The Business are is the necessary organizational unit to be assigned to the Client. True. False.

Specifications or data that is valid for all organizational units in mySAP ERP applications (such as exchange rates, for example) are entered at the client level. False. True.

Specifications and Variants done at Client Level are to be entered again at Company Code and Business area Levels. True. False.

Each client is an independent unit with separate master records and a complete set of tables and data. False. True.

At the time of login to SAP ERP System user must provide: Client ID, User ID, Password. Client ID, User ID, Password, Company Code ID. Client ID, User ID, Company Code ID. Client ID, User ID, Password, Business Area ID.

Important organizational units in Financials: Company Code and Business Area. Client, Company Code and Business Area. Company Code, Business Area, Cost Elements.

Which of the followings are correct: Company Code and Business are optional. A company code represents an independent balancing/legal accounting entity. A Company Code would be a company with independent accounts within a corporate group. Company Code level is used for External Reporting Purpose. a company code is the minimum structure necessary in mySAP ERP. a separate company code must be created per country. All of the above are correct.

Which of the following is correct: Business Area Units are. used for internal reporting purpose. have to be assigned to the each company code. are balancing entities that can create their own set of financial statements for internal purposes. The use of business areas is optional.

When you copy an existing company Code following things are copied. Definitions. Global Parameters. Customizing Tables. General Ledger Accounts. Account Determination. Fiscal Year Variant. ALL.

Global Parameters are. Chart of Account. Fiscal Year Variant. Company Code Defaults.

When you creat a company code you require: 4 Character company code. Company Name. City. Country. Currency. Language. Address. Posting Key. Fiscal Year Variant.

When you define a business area, you only have to enter a four digit alphanumeric key and a short description. False. True.

You can assign a business area to a company code directly. True. False.

To Define a variant you have to follow which of the following steps: Define the Variant. Determine the values for the variant. Assign the variant to the object. Name of the Variant. Language. All of Above.

The Variant Principle is used for. Field Status. Posting Periods. Fiscal Year. G/L Accounts determination.

A Variant can be assigned to various company codes. False. True.

The main disadvantage for using variants is that it is easier to maintain properties which are common among several business objects. True. False.

The company's fiscal year corresponds to the calendar year. False. True.

The Accounting Manager always wants four special periods for postings for year-end closing. True. False.

The Fiscal Year can be defined as. Year Independant. Year Specific. Non-Calender Fiscal Year. Calendar Fiscal Year. Shortened Fiscal Year.

The number, start and end dates for the periods are same for every year in Year Independant Fiscal Years. false. True.

In Year Specific fiscal year Period cannot vary from year to year. True. False.

The Fiscal Year is a variant that can be assigned to Business Area. True. False.

The fiscal year variant contains the definition of posting periods and special periods. False. True.

The system derives the posting period from the posting date. If the posting date falls within the last normal posting period, you can post the transaction in one of the special periods. False. True.

The fiscal year variant does not specify whether a period is open or closed. False. True.

The Fiscal Year Variant defines. Open or Closed Posting Periods. number of periods. Special Periods. Start and finishing dates of posting periods. all.

A Fiscal Year can be. Calender Year. Non-Calender Year. Shortened Period Year. Special Periods.

A Year Independant Fiscal Year can be. Calender Year. Non - Calendar Year. Shortened Fiscal Year. All.

A Year Specific Fiscal Year can be. Shortened Period Fiscal Year. Full Years with different period start and end dates. Calender Year. Non Calender Year.

If each fiscal year of a fiscal year variant uses the same number of periods, and the posting periods always start and end on the same day of the year, the variant is.

If the posting periods are equal to the months of the year, then it is ________ fiscal year.

If the fiscal year is defined as a non-calendar year, you have to define the posting periods by assigning end dates to each period. False. True.

the day limit for February should be 28 to consider leap years. True. False.

A fiscal year variant has to be defined as year-specific if: The start and end dates differ. If fiscal years use a different number of posting periods. If all of the fiscal years of a fiscal year variant have the same number of posting periods, only the different period dates for the different years have to be defined. If one year of a fiscal year variant has less posting periods than the others. Shortened Fiscal Year.

If one year of a fiscal year variant has less posting periods than the others, it is called a shortened fiscal year. False. True.

Exchange Rate Types can be. Historical Rate. Bank Buying Rate. Bank Selling Rates. Average Rates.

A currency key must be assigned to every currency used. False. True.

All currencies are already defined in the SAP System with standard international currency keys. True. False.

A currency key can be assigned to two or more currencies used. True. False.

For every combination of two currencies, you can maintain different exchange rates which are distinguished by an exchange rate type. False. True.

Exchange Rates can be used for. valuation. conversion. translation. planning. Average Rate. Buying and Selling Rate. all.

Because inflation can heavily influence the relationship between currencies, translation ratios cannot be maintained on a time period basis. True. False.

For defining Buying and Selling Rates you must have. Averge Rate. Exchange Rate Spread. none of above.

Base Currency is used to determine. Average Rate. Buying Rate. Selling Rate. Historical Rate. Non of above.

A translation between two foreign currencies is calculated via the _____________.

you can not use more than one base currency per exchange rate type. True. False.

Direct Quotation can be defined as. Where Local Currency is quoted in foreign currency. Where Foreign Currency is quoted in Local Currency.

indirect quotation can be define as. one unit of foreign currency is quoted for the local currency. one unit of local currency is quoted for the foreign currency.

You can maintain two prefixes that can be used to differentiate between direct and indirect quotation exchange rates during input and display. " " for Direct and "/" for Indirect. "+" for Direct adn "/" for Indirect.