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SAP FI (TFIN50 & TFIN52) Set III

COMMENTS STADISTICS RECORDS
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Title of test:
SAP FI (TFIN50 & TFIN52) Set III

Description:
SAP FI Certification Q&A

Author:
Venkat Pathuri
(Other tests from this author)

Creation Date:
26/06/2013

Category:
Computers

Number of questions: 100
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clairesedzere ( uploaded 8 years )
Excellent!!
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Content:
Which of the following statements are true? – (Multi) In the Vendor master record it is possible to activate a check for duplicate invoice at doc entry If you delete a vendor master record, data is automatically deleted on both chart of accounts level and Company code level. Changes to vendor master records can only be displayed using central function. You can block a vendor to prevent financial transaction postings for one co. code or for all Company codes. Bank master data for vendor can only be created with in customizing.
What is true regarding operational chart of accounts? – (Single). To perform allocations between company codes in controlling, each company code must be assigned to its own operational Chart of Accounts. A company code can choose to work with multiple operational Charts of Accounts If cross company code controlling is required, then the same operational Chart of Accounts must be used. Company codes with different local currencies must work with there own operational Chart of Accounts The operational Chart of Accounts is optional by co. code.
When you create a G/L account, the following entries must always be assigned to the account – (Multi) Account Group. Balance sheet a/c & P&L statement type Short text. Sample account number Consolidation trading partner.
Which of the following are correct? – (Multi): If a customer is also a vendor, the system can include outstanding account payable invoice items in the payment program. If a customer is also a vendor, the system can include outstanding account payable invoice items when you clear incoming payments receipts for the customer. The reconciliation account defined on the customer master record is an account used to reconcile CO transactions back to FI All customers belonging to the same account group must be assigned to the same reconciliation account. The alternative payer is used to transfer outstanding receivable items to the alternative payer’s account.
How can you create bank master records in the system – (Multi): By entering them manually under account receivable or payable menu path By posting an incoming payment made by the customer By entering them in the payment transaction screen for vendor master records By importing in the system a disk or tape from your bank containing the bank numbers. By running the vendor payment program.
Which statement supports the term “open item management” – (Single): Item in accounts with open item management can only be indicated as open and not cleared. Accounts with open item management must have line item display activated. Once open item management has been activated, it cannot be cancelled Open item management should be activated for bank accounts.
Which of the following statements supports the definition of General Ledger Account groups? Determines in which number range the General ledger accounts number must reside Number intervals for General ledger accounts master records must be the same as used for accounts receivable and accounts payable When creating a new general ledger account, the account group is an optional entry The account group controls the appearance of Chart of accounts segment and Company code segment of a General ledger account Pre-defined account groups are not delivered with R/3.
Which of the following statements are correct? – (Multi) When creating a House Bank, you do not need to specify a country The payment program can use a different House bank for each different payment method A House bank account can be defined in more than one currency House bank master data must be created in advance, before assigning the House bank to a payment method in the payment program configuration A house bank can be assigned to a business area within the payment program configuration.
Which of the following statements supports the reversal of a document? The original document contains no cleared line items Documents originating in other modules should be corrected there to allow the changes to flow naturally through to financial accounting. If a reversal date is not specified, the system reverses the document using the posting date of the document to be reversed A new document number is created for the reversal document.
Which of the following statements are correct? – (Multi) A customer master is divided into client, company code and sales area levels In case of one-time customers, you have to enter the customer’s address in the document itself Address, control data, and the reconciliation account are included at the client level of the customer master record The most efficient way to create master records is to work with external number ranges and not internal number ranges.
Bulk (Mass) change of line items – this function allows you to change a whole group of line items simultaneously, instead of having to change individual items in the documents. What data can you change using this function? – (Multi) The reconciliation account The company code The payment terms and payment block The house bank and payment method.
Which of the following statements about transactions are correct? – (Multi) An invoice may be parked by an accounts clerk, and a workflow message sent automatically to the supervisor Credit memos can be included in the payment program to reduce the final invoice value paid A parked invoice has a temporary document number assigned by the user An invoice which has been cleared by the payment program can only be reversed after the cleared line items have been reset An individual check cannot be printed automatically when you manually post an outgoing payment.
Which of the following statements about one-time accounts are correct? – (Multi) One-time accounts must use an account group which has been defined specifically for one time accounts A one-time account group must use a different number range from all other account groups The vendor’s name and address are not held in the one-time account master record Credit memos cannot be created for a one-time vendor account You cannot change a one-time account master record once it has been created One-time account groups must use a defined number range.
Which of the following statements is correct regarding open item management? In order to manage line items as open and cleared for vendors and customers, the open item management Indicator must be on in the reconciliation account master record. Vendor and customer accounts are always open item management accounts In order to be able to manage line items as open and cleared for vendors and customers, the line item display indicator must be on in the G/L account master record In order to be able to manage line item as open and cleared for vendors and customers, the open item management indicator must be on in the G/L account master record.
Which of the following statements is correct? The field status definition controls the Document type, Posting key and the Account number The document number assignment can be controlled using the Account type The field status definitions determine the screen layout, when you enter a document using the relevant G/L account.
What do you need to do to create an opening balance sheet in the R/3 System after the end of an ongoing year? Carry forward your FI Customizing settings into one of the special periods Carry forward the balance of each balance sheet account into the new fiscal year by running a year end program Execute program SAPF10011 in the old year There is no need to do anything, the System will automatically create an opening Balance Sheet.
You have several options for creating G/L accounts. Which of the following statements are correct? – (Multi) You can create a G/L account in a Company code without using a sample account You can create a G/L account at the Chart of Accounts level You can create a G/L account in a Company code using a sample account You can create a G/L account in a Controlling area if you specify the chart of accounts and the company code.
Where are the posting periods defined Posting period variant Fiscal year variant Field status variant.
Which of the following statements about financial reporting are correct – (Multi) A financial statement version can display either a balance sheet, or a profit and lost statement, but not both When displaying a financial statement, the system can automatically calculate the profit and loss statement result You can obtain a summarized financial statement for any hierarchy level defined in the financial statement version The system can translate a financial statement into any currency for reporting purposes A financial statement version cannot include more than one Company code, unless you are using SEM-BCS.
Which of the following statements is true when configuring a group chart of accounts A special financial statement version has to be used In the Company code segment of every operational account, the group account number will be a required entry The group chart of accounts is assigned to the Company code in the Company code global parameters screen When the assignment is made between the group and operational chart of accounts, the field group account number becomes an optional entry A one-to-one relationship exists between the group account number and the operational account number.
Which of the following are true about Customer/Vendor Account groups? – (Multi) They define the number range for a master record They use a field status group to control the field layout for the maintenance of master records They determine one-time accounts for accounts payable and accounts receivable They are defined for every company code.
Which type of currency/currencies will the system always track when posting a document? – (Single) Local & transaction currency transaction currency Local currency Group Currency Group & transaction currency.
What controls whether a line item is a debit or credit, and specifies the type of account for a line item Posting key Document type Account group Field Status.
What controls the document number of an FI document in the system The number range assigned to the account group The number range assigned to the document type The number range assigned to the Posting key The field status group.
What is a flow definition A flow sequence that you can schedule comprising task types such as programs transaction notes and so on A simplified workflow with programs, fork, user decisions and other workflows included as possible tasks A job started under the control of schedule manager A spreadsheet containing details of every thing needed for a period end closing.
Which of the following statements regarding the creation of customer master records are correct? – (Multi) An account group gets assigned to the customer The Company code field is always a required entry The account number may be assigned externally Information on each screen may be defined in configuration as mandatory, suppressed or optional, depending upon the account group Information on each screen may be defined in configuration as mandatory, suppressed or optional, depending upon the company code.
Identify the correct statements – (Multi) Business areas are mapped to Company codes in FI Business areas are mapped to Company codes in the Controlling area Business areas are used for internal P&L Accounts and Balance Sheets Business areas, if activated in FI, will necessitate an assignment in controlling master records Business areas can be mapped to the profit centers in a company in order to produce more accurate P&L accounts.
Co. code 1000 needs to classify operating expenses that cannot directly be attributed to sale according to the requirement of cost of sales accounting. This classification is made using which of the following Functional Area Cost Center Profit center Profitability Segment.
What are the requirements for posting to a new fiscal year – (Multi) If you are using a Fiscal Year variant, that is year-dependent, the variant must be created for the new fiscal year The Auditor’s Annual Report must have been created for the Fiscal Year you are closing The Sales Tax and Purchase Tax notices must be available for the tax authorities Posting periods for the new Fiscal Year must be opened If you set up document number assignment based on the year, the document number ranges must be created for the new Fiscal Year.
A Client ? May only contain a single chart of accounts May contain multiple charts of accounts May only use one currency type May only have one controlling area.
Which of the following statements about automatic payments are correct? – (Multi) In automatic payment procedures, all incoming invoices as of the second dunning level are paid automatically Direct debiting or bank collection can be used in automatic payment procedures to clear customer invoices Open items posted to G/L accounts can be cleared using the payment program Special G/L transactions (e.g. down payment), can be posted using the payment program The payment program can pay vendor invoices using wire transfers and checks.
Imagine the following scenario: A company wants to execute a payment run on a daily basis and process several company codes at the same time. If the amount exceeds US$ 1000, the vendors are to be paid by bank transfer; amounts less than US$ 1000 are to be paid by check. The customer has two house banks and wants all checks to be processed by bank A and all bank transfers to be processed by bank B. The bank is to receive information by data carrier. The customer also requires a payment proposal that can be checked manually by an accounting clerk. For performance reasons, the program is not to start until 6 p.m. What settings are required? – (Multi) You store variants for print programs within customizing. Here you can specify that the information is to be output to a data carrier You specify, per house bank, whether payments are to be made by check only or also by transfer You specify the payment method from within the application in the master record The payment proposal of the automatic payment program can only be displayed You can precisely schedule the print program from within the application.
According to which criteria does the payment program determine and select open items Posting date and baseline date Document date and posting date Baseline date and payment terms Posting date and cash discount periods Posting date and payment terms.
Which of the following statements are true with regard to the customizing setting for banks for the automatic payment run? (Multi) The sequence of the banks for processing outgoing payments is selected randomly You can only determine one payment method per house bank You can select several payment methods per country You can specify by bank, and payment method, the anticipated number of days before the bank account is debited You can determine the banks to be used for payments according to postal codes.
Which of the following factors does the system take into account in a payment run? – (Multi) Specifications made when maintaining the payment run parameters Payment method specifications made in the IMG Specifications made in the vendor master records.
When entering a document using a foreign currency, which date is used to determine the exchange rate, if the translation date is not entered? Posting date Document date Entry date Baseline date.
The productive indicator in the Company Code controls the following It blocks the Implementation Guide menu path It de-activates the delete documents and delete master data programs It de-activates the Transport and Correction Request System It prevents the Fiscal year variant from being changed in the Company Code It prevents the Chart of Accounts from being changed in the Company Code.
Which of the following statements regarding the G/L Balance carry forward program are correct? – (Multi) The balance carry forward program can be run at any time during the fiscal year The system creates the balance carried forward for every balance sheet account for new fiscal year The P&L accounts balances are transferred to a Retained Earnings account. You determine the retained earning account as part of the selection criteria when executing the Balance Carry Forward program Posting during the Balance Carry forward program is possible It can only be run after clearing all the open items in sub-ledger accounts The Balances in the Accrual Engine are carried forward simultaneously.
Which of the following statements are correct? – (Multi) The customer master data comparison compares the customers in the legacy system with the customers in the R/3 System The customer master data comparison compares which master records are already created in financial accounting but not yet created in sales and distribution The customer master data comparison compares which master records are already created in purchasing but not yet in sales and distribution The customer mater data comparison checks whether the customer master record contains a telephone number The customer master data comparison compares which master records are already created in sales and distribution but not yet in financial accounting.
What are true regarding the Chart of Accounts A Chart of Accounts can be allocated to multiple Company codes A Chart of Accounts can be defined as the group Chart of accounts A Chart of Accounts only contains definitions for G/L accounts A Chart of Accounts can only be allocated to one Company code.
Which of the following are correct? – (Multi) The business area can run across many company codes, i.e., all company codes can post in all business areas A company code may belong to more than one Controlling Area Each company code uses exactly one chart of accounts and one chart of depreciation Business areas are used to create Internal Balance Sheets and Income statements.
You want to schedule a new task using Schedule manager. Which of the following are prerequisites You must create a task list You must create a task group Tasks must be included in the task list You must insert a task in a task group.
During postings with the new Enjoy transactions for Vendors/Customers, which options are available? – (Multi) The system can calculate tax You have to enter GL line item/s You can change the Company Code for posting You can generate a new Company Code You can change the payment method.
Which of the following are true about posting of Bank Guarantees? – (Multi) They are posted manually They are statistical postings The accounts are cleared immediately.
Every document in FI (excluding SGL transaction like noted items), must have A document header & balance A document header & 2 line items A document header & maximum 999 line items At least 2 line items & 2 text lines.
Which of the following are true about the Automatic Payment Program? – (Multi) You can set minimum/maximum amounts in individual payment methods We specify only one payment method per payment run Special GL transactions can not be paid through Payment program.
What is correct about documents in FI Only one number range can be assigned to one document type The Document type controls most of the assignments of the document line items.
Which of the following are master records in FI? General ledger, Business Area GL accounts and sample accounts Tax codes and exchange rate types GL a/c, Sample a/c, industries and employee.
In a cross-company code transaction, how many documents would be generated? It depends upon the configuration It depends upon the number of company codes involved Not more than two Only one.
Solution Manager – Which of the following does the Business Process Repository contain? – (Multi) IMG assignments Transaction assignments Business Process Blueprint Scenario Documentation.
Suppose a company is both a customer and a vendor. Which of the following are correct? – (Multi) Sales invoices can be cleared against purchase invoices To facilitate clearing with vendor, you only need to enter the vendor account number in the customer master and vice versa.
Which of the following is the link between sub-ledger and G/L? Reconciliation Account Reconciliation Ledger Reconciliation Element.
Which of the following are true regarding reversal of documents? – (Multi) When you reverse a document, the document number gets generated automatically The user has to assign the number The original document contains no cleared items.
If both a validation and substitution have been defined, which has priority validation substitution.
Cash Journal – which of the following are valid business transaction types? – (Multi) Vendor and Customer postings Revenue and Expense Receipt from and payment to Bank Special General Ledger related transactions.
Which of the following is true regarding the treatment of exchange rate differences? Exchange rate differences should be routed through only one account per company code They can be posted to different accounts per currency.
Is it possible to dun Special GL transactions? – True/False.
Which of the following are mandatory for the creation of a Cash Journal Cost Center Currency Tax Code Name of the Cash Journal, Company Code, and Identification number GL Account.
After running payment Program, what is the next process? You change payment method You print the payment media.
Which of the following is NOT a delivered role in SAP R/3 Solution Manager? Project Manager Development Consultant Team Member Support Engineer Technical Consultant.
With reference to blocking of payments, which of the following are correct? Payments can be blocked at the item level Payments can be only blocked at the vendor level Payments can be blocked at the vendor and item level.
Which of the following methods is the easiest way to stop dunning reports for a customer? Dunning cannot be stopped You change the dunning key to a different level in the customer master You introduce a dunning block reason in the customer master in the correspondence section of the master record You change the dunning level to the highest level in the customer master record You change the dunning procedure in the customer master record.
Check if the following are true with reference to a “Residual Payment” A residual payment clears the original document and posts a new document for the remaining amount A residual payment leaves the original invoice and the current payment as open items A residual payment is posted as on account payment and both remain open.
Which of the following are true with respect to printing of Cash Journals? You can print cash receipts only You cannot print a compact view of cash journal for reconciliation purposes You can print a detail cash journal report.
Entering of cash journal transactions has been simplified in SAP. Users can: Enter a description in text form and then record the complete transaction Only enter the journal transactions as debits and credits Select from a list box to enter a journal transaction and enter the amounts.
The Business Process Repository does not contain which of the following? Scenario Documentation End User Training and Documentation Transaction Assignments Configuration Guides IMG Assignments.
General ledger transactions can only be reversed if reversal posting keys are defined in configuration – True/False.
You can define different exchange rate difference accounts in configuration depending upon the Chart of Accounts – True/False.
You can define different exchange rate difference accounts in configuration for each bank account – True/False.
Where is the "Valuation Method" for evaluation of Exchange Rate Difference for open items determined? In the parameters of the Foreign exchange valuation program In the Global currency settings for the Client In the master record of Exchange Rate Table.
Which of the following is an example of transaction data? Incoming invoices GL account master records Vendors Banks.
Which of the following statements is true? A company code can belong to more than one controlling area A plant must be allocated to a company code A controlling area and a company code must have the same local currency A business area and a company code are assigned to each other in the corporate structure IMG.
Which of the following are clearing procedures in accounts receivable? Incoming payment Down payment request Credit memo Transfer posting.
Cross-company code dunning is possible – True/False.
Terms of payment once entered on posted documents can be changed to installment terms of payment – True/False.
Which dates can be changed after posting? Baseline date Posting date Document date Value date.
Nothing needs to be done the next year pertaining to FY variant, if a year dependent FY is being used – True/False.
Payments can be blocked for accounts or line items through terms of payment – True/False.
Individual terms of payment are to be defined for each individual installment under payment terms – True/False.
Plants situated in different countries can be attached to a company code – True/False.
When the Balance carry forward program is run, you can select the retained earnings accounts whose balance is to be carried forward – True/False.
The Solution manager is A Client Platform An SAP Platform A Client and SAP Platform A Customer platform.
Solution Manager – Configuration is part of Business Blue Print – True/False.
For all document types – You should have default Posting keys You can use any posting key, provided the document type permits the account type of the posting key.
Payment terms can be changed after a document is posted – True/False True False.
We can have multiple payment methods per house bank – True/False True False.
(Automatic Payment Program) – We can change the house bank, payment method and the payment block in the payment proposal – True/False False True.
Dunning : The run date can be changed during proposal editing – True/False True False.
We can change the payment terms at transaction level (For customer & Vendor) – True/False True False.
For customers, we can prevent the changing of payment terms – True/False. (By not allowing in the Document change rules for line items) True False.
Document change rule – each rule is uniquely identified by a combination of the following Account type Transaction type – (Special GL transaction type/class) Company Code.
You can pay for special G/L and standard open items at the same time during posting with clearing – True/False True False.
We can issue credit memos for one time accounts – True/False True False.
Solution Manager – What is the purpose of the support desk? To ensure that all messages are raised directly to SAP thus eliminating the use of internal IT resources in a company It forces customers to raise all messages in the solution manager Allows for messages to be routed to end user support who can then contact SAP for a solution if they cannot solve it on their own.
For which of the following phases does a direct transaction not exist in Solution Manager Project Preparation Business Blueprint Realization Final Preparation Go Live and support.
Solution Monitoring Consists of Support Desk System Monitoring Service Level Management Business Process Monitoring.
You can store only one dunning level in the customer master record – True/False True False.
You can use dunning keys to limit the dunning level of a line item – True/False True False.
What can you do when editing a dunning proposal? Increase the dunning level of an item Decrease the dunning level of an item Increase and decrease the dunning level of an item You cannot change dunning level of an item in the proposal You can include or remove dunning blocks.
Payment Program – The due date of an item is determined from which date? Posting date Entry date Baseline date Document date.
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