|The __________ is a variant that contains the structure and the basic information about general ledger accounts. Chart of accounts Group chart of accounts Chart of depreciation.
The three steps to create and use a chart of accounts 1st 2nd 3rd.
Which of the following statements is/are correct? You can define the chart of accounts with a six alphanumeric character ID. You can define the individual components of the chart of accounts such as language, length of the G/L account number, etc. in Customizing under Enterprise Structure. In the chart of accounts list you enter the charts of accounts that you want to use in your organization at company code level. All of the above None of the above.
Which of the following statements is/are incorrect? The length of a G/L account number in the chart of accounts may have upto 12 digits. If G/L account number is numeric, the system includes zeros to the right of the number. If G/L account number is alphanumeric, the system includes zeros to the left of the number. All of the above None of the above.
Which of the following statements is/are correct? Blocking the chart of accounts is advisable if charts of accounts are created centrally and accounts are created locally. You cannot control how a cost element can be maintained when maintaining a G/L account. The group chart of accounts is a chart of accounts which is used in the corporate group. All of the above None of the above.
In defining chart of accounts, you can do the following : Define chart of accounts key and its description. Choose language in which account descriptions are maintained and set the length of the G/L account numbers. Choose the type of controlling integration between G/L account and cost center either manually or automatically. Assign a group account number for each G/L account which can then used for cross-company code reporting if the company codes use different CoA. Blocked chart of accounts that is not yet completed.
Which of the following statements is/are correct? An operational chart of accounts and country-specific chart of accounts cannot be assigned to one company code simultaneously. The Controlling and Financial Accounting components uses the same chart of accounts. Company codes can do cross-company code controlling only if they use the same chart of accounts. You can use a report to view the G/L account directory with chart of accounts and company code-specific data. You use the G/L account plan to display G/L master data and to print G/L account lists.
Chart of accounts segment summarizes the following information for an account: Account number Name of the account (as short or long text) Control fields Consolidation fields.
Which of the following statements is/are correct? The information entered in the chart of account segment for a G/L account applies to all company codes and you only enter this information once. Text entered for the chart of accounts segment are managed by text ID only. You can search for an account using a keyword. You can define and change the layout of the tab pages for the individual processing of the G/L account master data like the title and number of tab pages but not the field groups and their position on the tab pages. You can select the layouts for central processing and processing in the chart of accounts and company code-specific area.
Which of the following statements is/are correct? You must create a chart of accounts segment only for the G/L account, to use the G/L account from the chart of accounts assigned in your company code. The company code segment contains information that refers exclusively to the company code concerned that controls the entry of accounting documents and the managment of accounting data. The company code segment for the same G/L account cannot be different. Because the number and name of the chart of account is maintained in the chart of accounts, the account has the same name and number in all assigned company codes.
Which of the following statements is/are incorrect? In the company code segment, you have to specify whether the account is a B/S or P&L Statament account. The balance for B/S accounts is carried forward to the same account, whereas the balance for P&L Statement account is carried forward to retained earnings account and set to zero. You enter a key that is assigned to the account to which the balance is carried forward, in the field "P&L Statement Type" in the company code segment. When you create a G/L master record, you can select the retained earnings account for each B/S account if there is more than one retained earnings account created.
Which of the following statements is/are incorrect? G/L accounts can be set into different account groups. You must assign a number range to an account group to ensure accounts of the same type falls within the same number range. However, number intervals for G/L account master records must not overlap. You must enter the account group in the chart of accounts segment. All of the above None of the above.
Which of the following statements is/are incorrect? The field status enables you to control the display and maintenance of an account's master data. Fields which are suppressed may contain values and these values still can take effect. The fields "Account currency" and "Field status group" are defaulted to required entry fields. But this status can be change in Customizing. Certain fields are grouped together and their field status is valid across the group. Fields whose values must not be changed can have the status Display even in change mode.
The field status definitions from account group and transaction are taken into consideration for each field and the one with higher priority is used. The order of priorities are (from highest to lowest): 1st 2nd 3rd 4th.
If you do not want to use transaction-specific control, you shall set the field status of all fields to: Hide/Supressed Display Required Optional.
The fields displayed in the G/L account master record are not only controlled by the account group, but also by the transaction you are using to edit the master data (transaction-specific control) such as Create, Change & Display True False.
Which of the following statements is/are correct? Reconciliation accounts are G/L accounts assigned to the business partner master records to record all transaction in the subledger. All postings to the subledger accounts are automatically posted to the assigned reconciliation accounts, hence, the G/L is always up to date. Amounts can be posted directly to reconciliation accounts. You define a G/L account as a reconciliation account by entering an account type in the field "Reconciliation Account for Account Type" such as "D" for AR or "K" for AP. All of the above None of the above.
Which of the following statements is/are incorrect? Transaction figures are the totals of line item postings on the debit or credit side. The field "Line Item Display" is a control field in the chart of account segment of an account. For accounts without "line item display", only the transaction figures are updated when a document is posted to this account. This means that a user can only view the balance. For accounts with "line item display", the most important data from the posted line items is stored in a special index table. This means that a user can view both the balance and the individual line items. Line item display takes up additional system resources and should only activate if there is no other way of viewing it.
You should not activate the line item display for the following accounts: Reconciliation Revenue Material stock Cash Expense Tax accounts Liability.
Which of the following statements is/are correct? The active new G/L accounting has an "Entry view" and a General ledger view" for a document. In "G/L view", only the statement regarding the control of line item management in the account are referred to. Whereas, in "Entry view", the line items for all accounts are visible. Accounts with open item management [OIM] are specified either as open or cleared but shouldn't have line item display activated. OIM is a prerequisite if you need to check whether there is an offsetting posting for a given business transaction. You can activate or deactivate OIM even if the account has a balance.
Which of the following statements is/are correct? As a standard, the local currency is proposed as the account currency whenever you create a G/L account. If the account currency is the local currency, the account can be posted to in any currency. Similarly, the other currencies are automatically converted into the local currency for each line item. Transaction figures can be managed for each currency only if line item display is activated. All of the above None of the above.
Which of the following statements is/are incorrect? If the indicator "Only Balances in Local Currency" is selected in the master data record, transaction figures are only managed for amounts converted into local currency. If you want to clear accounts by assigning items with the same local currency amount with one another, without necessitating exchange rate difference postings, you should select "Only Balances in Local Currency" indicator. The "Only Balances in Local Currency" indicator must be set in cash discount and GR/IR clearing accounts but not in reconciliation accounts for customers and vendors. The "Only Balances in Local Currency" indicator is usually set in B/S accounts that are managed in foreign currencies but not on an open item basis.
Which of the following statements is/are correct? Accounts with a foreign currency as account currency can only be posted to in this foreign currency. You can create G/L accounts manually, by copying with reference to an existing account and using a program for data transfer. You can change the master data in the CoA segment, CoCd segment, or the names of several G/L accounts simultaneously only if the G/L accounts can be from same chart of accounts. All of the above None of the above.
For internal reporting purpose, cross-company code reporting can be use even if all company codes use different chart of accounts True False.
If some company codes may have to use special charts of accounts because of legal requirements, the following procedure applies for internal reporting: You can use a group chart of accounts even if it doesn't contain all of the group accounts. The group chart of accounts must be assigned to each operational chart of accounts. You must enter the group account number in the CoA segment of the operational chart of accounts. You must use a financial statement version for the group chart of accounts.
The group chart of accounts must be assigned to each operational chart of accounts. If this is done, the field "Group account number" in the CoA segment of the operational chart of accounts is _________ entry field. Required Hide/Supressed Display Optional.
One of the advantage of using group chart of accounts for internal reporting with several company codes using different CoA, it still can perform inter-company code controlling True False.
Which of the following statements is/are correct? Group chart of accounts is used for company codes with different operational chart of accounts, whereas country chart of accounts is used for company codes with the same operational chart of accounts. Cross-company code controlling is not possible for country chart of accounts. The country chart of account number should enter in "Alternative account number" field in every company code segment. You define country-specific chart of accounts for the company codes to create reports using the country chart of accounts.
Which of the following statements is/are correct? Reconciliation accounts are updated once a day. You can always display the line items of a G/L account (Entry View). G/L accounts with open item management must have line item display. The account group controls the field display for the company code data in the G/L account master record. Reconciliation accounts contain the total of the transaction figures for the corresponding subledger accounts.
Which of the following statements is/are incorrect? The segment field/characteristic is a new standard account assignment object which is available from the SAP ERP solution onwards in order to create evaluations for objects/entities at client level. An ERP system enables you to save a segment in the master data of a profit center i.e., the segment is posted automatically once profit center is posted. There is a dummy segment posting. The standard method is to derive the segment from the profit center. Using segment is only officially approved by SAP if profit centers are being used simultaneously.
If its not possible to derive the characteristic segment from a profit center master record, you can do other ways. Document splitting provide the following options: Manual entry Programming = BAdl implementaiton (FAGL_DERIVE_SEGMENT) Defining substitution rules Standard account assignment All of the above None of the above.
Which of the following statements is/are correct? Complete customer and vendor accounts have two segments. Segment at company code level contains company code-specific data, whereas segment at client level contains general data. You can use a report RFBIDE10/RFBIKR10 to transfer customer/vendor master data maintained in a source company code into another company code. The account number is assigned to the customer/vendor at company code level.
Which of the following statements is/are incorrect? Customer/vendor master records can be maintained either centrally or separately. You can run report RFDKAG00 [for customer] or RFKKAG00 [for vendor] to compare accounts whether duplicate or incomplete. You can prevent the creation of duplicate accounts thru the use of matchcode before creating a new account and/or activate automatic duplication check. All of the above None of the above.
Which of the following statements is/are incorrect? Explanatory texts cannot be entered in every segment. Important fields if you want to change or display an account are search terms, group key and clerk/accounting field. If you create new customer/vendor master records with reference to an existing one, only the data that doesn't refer directly to the customer/vendor is copied i.e., no address information. In Financial Accounting, once the customer/vendor account has been created, you can no longer change the account group.
Which of the following statements about number ranges for customer/vendor accounts is/are incorrect? Number ranges must not overlap. External number ranges may be alphanumeric whereas internal number ranges are always numeric. External and internal number ranges are up to 10 characters. You can display the current number with external number range, but you cannot with internal number range. Each number range can be assigned to one or more account groups.
Statement 1. A one-time account master record does not contain any information about specific customer/vendor since it is used for more than one customer/vendor, hence specific customer/vendor fields should be hidden.
Statement 2. You cannot enter the customer/vendor specific data for one-time account in the document during posting Statement 1 is correct Statement 2 is correct Both statements are correct None of the above.
Which of the following statements is/are incorrect? The account group control the fields displayed in the master record. The screen layout of customer/vendor master data are affected only by account group-specific control and company code-dependent control. You can define that one person makes changes to customer/vendor master data while another person is responsible for confirming the changes. If you define a field in the customer/vendor master record as "sensitive", the corresponding customer/vendor is blocked for payment if the entry is changed. The block is removed when a second person with authorization checks the change and confirms or rejects it. You can display the changes to the customer or vendor master record for all accounts using reports RFDABL00(customer) or RFKABL00(vendor).
In Dual control principle, the confirmation for the changes can be made for a single customer/vendor or you can get a list. This list can be restricted by: Customer/vendor Company code Accounts not yet confirmed Accounts rejected Accounts to be confirmed by me Accounts already confirmed.
Which of the following statements is/are incorrect? The payment and the dunning program cannot clear open items against each other since a customer is also a vendor, or vice versa. The open items of the assigned customer-vendor account can be displayed in the line item display but not in the open item selection screens. You have to enter the vendor account number in the customer account and vice versa then select the "Clearing with Vendor" field in the customer account or the corresponding field in the vendor account, to clear open items. Set the "Account Control and Status" under "Additional Selections" in the report for customer & vendor list, to see the partner relationships for the respective customer or vendor.
Which of the following statements is/are correct? You can enter an alternative payer/payee at the client and company code level. The entry in the company code segment has higher priority than the entry at client level. If you set the "Individual Entries" indicator when creating an invoice, you can enter information about an individual payer/payee for a customer/vendor that has not been created in mySAP ERP. If the alternative payer/payee is an existing customer or vendor, you can enter the customer/vendor account number as permitted payee/payer in the master record. Then during an invoice entry, you can choose one of these payers/payees using matchcodes. If you enter alternative payer, the amount is paid by the alternative payer. If you enter alternative payee, the amount is paid to the alternative payee. If you set the "Payment Data" indicator under "Additional Selections" in the report for the customer or vendor list, you can see the alternative payer/payee for the respective customer/vendor.
Which of the following statements is/are correct? You can reflect differences between cash flow and goods flow thru head office and branch accounts in the SAP System. All items posted to a branch accounts are automatically transferred to the head office account. If the "Decentralized Processing" field is selected in the head office master record, the dunning and payment programs use the branch account. If you set the "Account Control and Status" indicator under "Additional Selections" in the report for the customer or vendor list, you can see the possible head offices for each of the branches.