SAP FI TFIN50-1 UNIT 2

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.