For Creating a Chart of Account you have to follow 4 steps in a same recommended order. True False.
Steps for creating a Chart of Account includes Defining a Chart of Account Defining the Properties of Chart of Account Assign the Chart of Account to the Company Code Assigning the Chart of Account to the Business Area Copying Chart of Account from the already determined Company Code.
The Chart of Account is not a variant True False.
The _________________________ is a variant which contains the structure and the basic
information about general ledger accounts. chart of accounts General Ledger Subledger None of above.
You define the individual components of the chart of account, for example,language, length of the G/L account number, group chart of accounts, status. False True.
The Definition of Chart of Account Contains Chart of Account Key Description Maintenance Language Length of G/L Number Manual or Automatic Creation of Cost Element Group chart of Account Status (Locked or unlocked) Account Groups Retained Earning Account.
The length of the G/L account numbers has to be 10 digits True False.
While creating a chart of account you may maintain Cost Element Manually or Automatically. False True.
When you save a new G/L account, the corresponding cost type always gets created automatically. True False.
You can assign a group account number for each G/L account. False True.
If a company Codes use different Operational Account group then _____________ is used to obtain the Consolidated Financial Statements.
if cross-company code reporting if the company codes use different charts of accounts. You can get the Group Consolidation Report easily without using any further variant or setup. True False.
You may obtain Intercompany consolidation statements if Company Code uses: Same Operational Chart of Account Group Chart of Account Account Groups Different Operational Chart of Account all of above.
A chart of accounts that is not yet completed can be blocked so that no company code can use it until it is ready. False True.
One Chart of account can only be assigned to one company code True False.
If Chart of account is a variant then One chart of accounts can be assigned to several company codes. False True.
The information for an account is summarized in a chart of accounts segment. Account number Name of the account Control Field Consolidation fields.
The information entered in the chart of account segment for a G/L account applies to all company codes. False True.
You cannot define and change the layout of the tab pages for the individual processing
of the G/L account master data. True False.
You can define and change the layout of the tab pages for the individual processing
of the G/L account master data. You can define The number of pages The title of tab pages The field groups you required You can select the layouts for central processing, and processing in the chart of accounts- and company code-specific area.
You must create ________________ segment to use one of the accounts from the assigned chart of accounts in your company code.
An General Ledger Account may be create in : Company code Segment Chart of account segment Centrally in both company code and chart of account segment Business area segment All.
The Company code segment of G/L account creation consists of: Account Group Account Management Joint Venture Document Creation Bank/Financial Details Interest Calculation information G/L account text.
The company code segment for the same G/L account can be different depending on the requirements of the company code. False True.
While creating an GL Account, you define the information that is relevant to each company code: Currency Taxes Reconciliation Accounts Line Item Display Sort Key Field status group House Bank Interest calculation information none of all.
Because the number and name of the account is maintained in the chart of accounts, the account has to assigned with different name and number in all assigned company codes. True False.
The Balance sheet and Profit & Loss accounts have same treatment at the end of fiscal year. True False.
For Profit & Loss accounts, the balance is carried forward to the same account. True False.
One company code can have only one retained earning account True False.
In Account Group you may define Account Number Range Field Status of the fields in company code level none.
While defining an account group, which of the following is applicable and right Number intervals for G/L account master records can overlap. By assigning the number range to the account group, you can ensure that accounts of the same type are within the same number range. Since a chart of accounts contains many different types of accounts, they cannot
be grouped into different account groups. You must enter the account group in the chart of accounts segment it does not control the appearance of the company code segment of a G/L account.
Each Field has following properties, which of the following has right sorting order Hide, Display, Required Entry, Optional Entry Display, Hide, Optional Entry, Required Entry Hide, Optional Entry, Display, Required Entry Required Entry, Optional Entry, Hide, Display.
The ___________ enables you to control the display and maintenance of an account's
master data.
The fields ?Account Currency? and ?Field Status Group? are always required
fields. This status cannot be changed. False True.
The fields Status in the general ledger account master are controlled by: the account group and transaction-specific control the account group only transaction-specific control only.
Assign the Field Status Priority being given in account group and transaction Control Hide and Display Required Entry and Display Display and Optional Entry Hide and Required Entry Optional Entry and Required Entry Optional Entry and Hide.
Reconciliation accounts are general ledger accounts assigned to the business
partner master records to record all transactions in the sub-ledger. False True.
You can post the document directly to the reconciliation account True False.
You define a G/L-account as a reconciliation account by entering one of the
following account types in the field Reconciliation Account for Account Type: D or K D or S K or S K or Z.
Transaction figures are the totals of line item postings on the debit or credit side. False True.
Keeping the topic of Line Item Display in mind, which of the followings are right The ?Line Item Display? field is a control field in the company code segment
of an account For accounts without ?line item display?, only the transaction figures are updated when documents are posted to these accounts. For accounts with ?line item display? the most important data from the posted line items is stored in a special index table. None.
Since the line item display takes up additional system resources, you should only
use it if there is no other way of looking at the line items. You should not activate it for: Reconciliation Accounts Revenue Accounts Material stock accounts Tax Accounts None.
Items in accounts with open item management are specified as: Open Cleared marked unmarked matched.
You should use open item management for the following accounts: Bank Clearing Accounts Clearing accounts for goods receipt/invoice receipt Salary clearing accounts. Expense Accounts.
When selecting a currency for a G/L account you may: Local Currency Foreign Currency Base Currency none.
If the account currency is the local currency, the account can be posted
to in any currency. False True.
If the account currency is the foreign currency, the account can be posted
to in any currency. True False.
"Only Balances in Local Currency" checkbox should be activated for GR/IR clearing accounts Cash Discount clearing accounts Clearing Accounts Reconciliation Accounts.
Group Chart of Accounts are used for internal purposes, cross-company code reporting False True.
If Company codes are using separate chart of accounts then which of the following/s are correct A group chart of accounts can be used. This group chart of accounts must
contain all of the group accounts. The group chart of accounts must be assigned to each operational chart of
accounts. Entering group account number in the chart of accounts segment
of the operational account become optional. none.
Because the company codes use different operational charts of
accounts, you cannot carry out cross-company code controlling. False True.
An alternative to using a group chart of accounts is to use a country chart
of accounts. False True.
The disadvantage of using country chart of account is that an accounting clerks who may be familiar with the country charts of accounts will first have to get used to using the operational chart of accounts. False True.
A G/L account consist of which segments? Chart of accounts segment Company code segment Business area segment none.
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 with open item management must have line item display. False True.
Any sales area that wants to do business with a customer has to create a sales area segment first. The sales area segment contains sales area-specific data. False True.
Any purchasing organization that wants to do business with a vendor has to create a purchasing organization segment first. The purchasing organization segment contains purchasing organization-specific data. False True.
A complete customer account consists of the following three segments: General data at the client level Company code segment Sales area segment Business Area Segment Marketing Area Segment CRM Segment.
A complete vendor account consists of the following segments: General data at the client level Company code segment Purchasing organization segment Distribution Segment Business area Segment All.
Customer/Vendor Master data records cannot be maintained centrally for all areas or separately for Financial Accounting and Sales and Distribution. True False.
Which of the following is used to prevent the creation of duplicate account Matchcode Activate the automatic duplication check RFDKAG00 RFKKAG00 All.
In Financial Accounting, once the customer/vendor account has been created, you can no longer change the account group. False True.
The account group is used to control Master Data Field Status Number Range Line Item Field Status ALL.
The IBAN (International Bank Account Number) consists of a maximum of 34 alphanumeric characters Country Code Bank Key Account Number Branch Key Bank Account type Key All.
If a Customer is also Vendor then you cannot clear the open items with each other True False.
Number ranges ranges must not overlap. False True.
For each number range you can only be define whether the number assignment is internally. True False.
Each number range can be assigned to one account groups only. False True.
Field status for cut/vend master data can be controlled by: Account group-specific control Transaction-specific control Company code-specific control Number Ranges Field status groups.
In contrast to other master records, a one-time account master record does not contain
any information about a specific customer/vendor since this account is used for
more than one customer/vendor. False True.
You enter the customer-/vendor-specific data for one-time customers/vendors in
the document during posting. False True.
In customer/Vendor Clearing you have to carry out the following steps, you have to enter the vendor account number in the customer account, or vice versa. False True.
______________________number assignment means that the mySAP ERP system
assigns the number automatically.
General ledger accounts have external number assignment; customer and vendor master records can have _____________ or _____________ number assignment.
Every bank that is used in the system you have to create a bank master record. False True.
Banks that your company uses are defined as house banks False True.
Bank Master Tree consists Bank Country Bank Key House Bank Bank Account Bank G/L Accounts None Branch Key.
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