option
My Daypo

SAP TFIN50 Part 1 Unit 1

COMMENTS STADISTICS RECORDS
TAKE THE TEST
Title of test:
SAP TFIN50 Part 1 Unit 1

Description:
Basic Settings

Author:
Sarilan Kokok
(Other tests from this author)

Creation Date:
01/09/2013

Category:
Computers

Number of questions: 32
Share the Test:
Facebook
Twitter
Whatsapp
Share the Test:
Facebook
Twitter
Whatsapp
Last comments
komalmahyavansh ( uploaded 5 years )
hi
Answer
Janminder ( uploaded 7 years )
COMMENT
Answer
Content:
Which of the following statements as regards client is/are correct? Client is the highest level in the SAP ERP system hierarchy. Specifications or data that is valid across organizational unit is entered at client level. Each client is a technically independent unit with separate master records and a complete set of tables and data. Users must enter a client key and have a user master record in the client in order to log on to the system. The most important organization unit of financial accounting is the client.
Which of the following statements as regards company code is/are correct? It represents an independent balancing/legal accounting entity. It often corresponds to that of a corporate group or group of affililiated companies in business terms. It is the minimum structure necessary in SAP ERP Financials. Every organization for which a financial statements (B/S, P&L, etc) is to be created, must be stored as a company code in the SAP system. It is a four digit alphanumeric key.
To create a company code, copy an existing company using the "Copy Company Code" function (recommended). This copies the following data: Definition Global parameters Customizing tables General ledger accounts Account determination Subledger accounts.
The objects in the activity Edit Company Code Data include the following: Address Currency Languange key Country Company name Four character company code key.
Which of the following statements as regards definition in IMG is/are correct? Data in global parameters that you copied using Copy Company Code function are chart of accounts, fiscal year and company code defaults only. You only have to enter a four digit alphanumeric key and a short description when you define business area. Segment have ten alphanumeric characters whereas companies have six alphanumeric characters. Company code 1000 is a template for general company code with international chart of accounts INT and no special country specifications in the SAP ERP standard system.
Which of the following statements as regards country templates is/are incorrect? You can use the country installation program if you need a company code for a country that has a country template. Country installation program only creates a country-specific template for company code. You must not use company code 0001 as your productive company code. You should only run the country installation program in an initial installation of SAP ERP and not in an upgrade installation.
Other important organizational units in Financial Accounting that is optional. Business area Company codes Profit center Cost center Segment Company Plant Functional area.
It's an organizational unit in FA that represents separate areas of operation within the organization and can be used across company codes. They are balancing entities that can create their own set of financial statements for internal or external purposes. Business area Profit center Segment Company Functional area.
It's an organizational unit in FA that used as a basis for consolidation functions. It can contain one or more company codes. Business area Profit center Segment Company Functional area.
You use this organizational object in financial accounting if your company structure its P&L statement according to cost-of-sales accounting. Business area Profit center Segment Company Functional area.
It's an organizational unit in FA that are responsible for costs and revenues. It evaluates the success of individual independent areas within a company. Business area Profit center Segment Company Functional area.
It's an organizational unit in FA that is conducted using "Management Approach". You use this if your company is obliged to issue information externally about independent areas according to international accounting principles (IFRS 8 and SFAS 131). Business area Profit center Segment Company Functional area.
Customers who wish to draw up financial statements by business areas, profit centers or segments shall never activate document breakdown. True False.
You can assign a business area to a company code directly. True False.
Which of the following statements as regards controlling area is/are correct? It is the most important organizational element in Controlling. It identifies a self-contained organizational structure for which costs and revenues can be managed and allocated. It represents a separate unit of cost accounting. You can't assign several company codes to more than one controlling areas. You can assign several company codes to the same controlling area only if the company codes have the same operating chart of accounts.
Which of the following statements as regards ledgers in new G/L accounting is/are correct? Each client has exactly one leading ledger. That is, only the values from the leading ledger are posted to CO in the standard system. SAP provides the leading ledger 0L and totals table FAGLFLEXT with the standard system. It is necessary to define an additional ledger per company code for each local accounting principle. You can define different fiscal year in non-leading ledgers if you use multiple ledgers.
Representation of parallel accounting in new G/L Accounting takes either the accounts approach or ledger approach. Match them properly. Accounts approach Ledger approach.
Which of the following scenarios are provided by SAP with SAP ERP 6.0? Cost center update Preparation for consolidation Business area Profit Center update Segmentation Cost-of-sales accounting Company code update.
Which of the following statements as regards scenarios is/are correct? It defines which fields are updated in the new G/L ledgers during posting. You cannot define your own scenarios. You do not need a ledger for each scenario. You can assign at least one scenario only to the leading ledger in Customizing.
The variant principle is a three step method used in the SAP system to assign particular properties to one or more objects. The three steps are: 1st 2nd 3rd.
The main advantage for using variants is that it is easier to maintain properties which are common among several business objects. True False.
Which of the following statements as regards fiscal year is/are correct? Fiscal year can be year independent or year-specific. FY variant contains the definition of posting periods only. Special periods are used for postings of business process of "year-end closing" only. The FY variant specifies whether a period is open or closed. The FY variant only defines the number of periods and their start and finish dates.
Which of the following statements as regards fiscal year variant is/are incorrect? It is year-specific if each fiscal year uses the same number of periods and the posting period always start and end on the same day of the year. It is year-independent if (1) start and end date of the posting periods vary from year to year and/or (2) if at least one fiscal year is shortened. Year-specific FY variant can be defined as calendar year or non-calendar year. If closing has to be carried out before the end of a normal fiscal year, you could be required to define a shortened fiscal year and its number of posting periods.
Match predefined fiscal year variants properly. Calendar year Year-specific.
Which of the following statements as regards currencies is/are correct? A currency key must be assigned to every currency used. Each currency can have a validity date. You can maintain different exchange rates which are distinguished by exchange rate type. Translation ratios show the relationship b/w currencies and must be maintained for each exchange rate types and currency pair. Translation ratios have to be performed usually once.
Which of the following statements as regards exchange rates is/are correct? Maintaining exchange rate in SAP is an on-going task unlike translation ratios, which can be maintained periodically depending upon the economic activities of your country. You can specify more than one of the SAP-delivered tools simultaneously for each exchange rate types. You can automatically update the exchange rate table by uploading external market data in Multicash form. You can automatically update the exchange rate table realtime. It is defined at company code level.
You define exchange rates in the system for the following purposes: Posting and clearing Exchange rate differences Foreign currency valuation All of the above None of the above.
You specify the tool to be used for each exchange rate type. The following tools are available: Inversion Base currency Exchange rate spread.
A very efficient combination of the exchange rate tool is: Base currency Exchange rate spread Inversion.
Exchange rate types can be: Historical rate Bank selling rate Bank buying rate Average rate Rates on certain key dates Forward-looking rate.
Which of the following statements as regards exchange rate tools is/are correct? Inversion is not permitted for exchange rate type M (average rate). You could not use more than one base currency per exchange rate type. A calculation between two foreign currencies is calculated via the exchange rate spread. Using exchange rate spreads tool, you only have to maintain the average rate if the exchange rate spread of an exchange rate type is entered in the system. You do not have to enter all exchange rates. You can only use the base currency for exchange rate type M.
Which of the following statements as regards exchange rate quotations is/are incorrect? In direct quotation, one unit of foreign currency is quoted for the local currency, whereas in indirect quotation, one unit of local currency is quoted for the foreign currency. SAP standard prefix settings for direct quotation is " " (blank), whereas for indirect quotation is "/" (slash). The date used to fetch the exchange rate from the exchange rates table, such as the posting date in the accounting document, is used as the translation date. All of the above. None of the above.
Report abuse Terms of use
HOME
CREATE TEST
COMMENTS
STADISTICS
RECORDS
Author's Tests