Which statement below regarding financial reporting is correct? The system can translate a financial statement into any currency for reporting purposes. During display of a financial statement, the system can automatically calculate the profit and loss statement result. A summarized financial statement can be generated for any hierarchy level in the FS version. A financial statement versioin cannot include more than one Company Code, unless FI-LC is used. A financial statement version displays either a balance sheet or a P&L statement, but not both.
Which of the following statements are correct about vendor transactions? A vendor downpayment request cannot be included in the Payment Program. A vendor downpayment is cleared after a final invoice is reveived from the vendor. Vendor downpayments are shown on balance sheets under a normal reconciliation account for payables. A special GL transaction is a transaction included in the Special Purpose Ledger under a coding block in GL account. A vendor downpayment request is a noted item.
Select the correct statement regarding cross-Company Code transactions. No configuration needs to be performed for cross-Company Code transactions. A cross-Company Code document transaction number contains the Company Code of the second company number, the document number of the first Company Code and the Fiscal Year. None of the above is correct.
The asset class is a selection option in all FI-AA standard reports. True False.
Screen layout rules are used to control which of the following? Maintenance level Reference/copies Field attributes.
The Chart of Depreciation is a catalog of country-specific depreciation areas based on various business aspects. True False.
When an asset master record is created the default values defined for each asset class are automatically applied to the new asset. True False.
Various Charts of Depreciation can be assigned to the same asset class. True False.
The layout of the master data in each asset class defines: The number of tab pages. The specific field groups that appear on tab pages. The names of tab pages.
The Segment field is a standard account assignment object. True False.
A specific type of depreciation valuation is represented by which of the following? The Chart of Depreciation The Chart of Accounts The Depreciation Area.
Which of the following statements pertain to a Detail List? Key figures are normally rows of the list An individual object is formatted for all key figures depending on the form. The rows contain characteristic values. Key figures are normally in the columns of the list. Various objects are formatted using a selection of key figures.
Identify the correct statement related to Financial Statement Versions (FSV). The best way to create a Financial Statement Version is to start from scratch, because the copy function can cause errors that are difficult to edit. A Financial Statement Version is defined at Company Code level. You can define a maximum of 999 Financial Statement Versions. A Financial Statement Version is defined at Chart of Account level. You cna define a maximum of 99 Financial Statement Versions.
When defining a dual-axis form the rows can be used for key figures while the columns can be used for the characteristics, or vice versa. True False.
Any number of variance analyses based on actual and planned data can be performed for which of the below? Balance display Key figure reports Reports for financial statement analysis.
Payment method supplement is a functionality that allows printing payments with additional vouchers. True False.
The steps in a Dunning run follow the sequence below: Dun accounts, Select accounts, Dun line items Dun accounts, Dun line items, Select accounts Select accounts, Dun line items, Dun accounts Dun line items, Select accounts, Dun accounts.
The Payment Program is designed to handle national and international transactions. True False.
Settings for the Payment Program are normally accessible through the user interface. True False.
What is the highest dunning level attainable by the item in a customer master record? Level 10 Level 9 Level 7 Level 12.
Exchange rate differences in SAP ERP are gathered automatically in a worklist that needs to be posted manually. True False.
It is possible for hidden fields to contain values that will be used by the system. True False.
What are the three types of Chart of Accounts in SAP ERP? Consolidation Chart of Accounts Group Chart of Accounts Country-specific Chart of Accounts Operating Chart of Accounts International Chart of Accounts.
Posting keys are used to control: Account type Document type Field status Number range Debit/credit indicator.
What happens when the payment method in a document is different from the payment method in the master data? The payment run will stop and then the system will issua an error message. The payment run will termporarily stop then the system will prompt the user to correct the data. After the correction of the data, the payment run will continue. The document data will override the master data. The master data will override the document data.
Which objects here below can be posted to from a cash journal? Customer One-time customer Asset master Accrual engine Material master.
Which parameters below are required to execute a payment run? The Payment Method The Company Code The Currency The Bank Account.
Select one of the benefits of document parking? It enables the use of a principle known as dual control. It enables the posting of technically incomplete documents. It provides a user friendly option to change posted documents. It enables the assignment of individual document numbers.
Parking documents is better than holding documents for the following reasons: Parked documents can be posted through automatic speech recognition. Parked documents can be posted using cross-Client approach to increase efficiency. Workflows can be used to post parked documents. Parked documents can be changed and posted by a different user, in order to support the dual control principle.
What is the main benefit of posting a down payment using a special GL transaction? Down payment requests are automatically cleared. Down payment posts to reconciliation account that is different from the one normally used for payables and receivables. The data will show in the appendix of the balance sheet. Down payments are automatically cleared by the final invoice.
Which transactions in the procurement process with valuated goods receipt lead to the creation of documents in FI? Create purchase requisition Enter invoice receipt Post valuated goods receipt Create purchase order.
Year-specific fiscal year variants can be used if the start and end date of the posting periods are different every year. True False.
What are the commonly used exchange rate types and their respective uses? Average rate for posting and clearing (M) Daily rate for current entries (S) Buying rate (G) Selling rate (B) Forecase rate for budgeting (P).
Line items of a GL account should always be set for display. True False.
When a GL account is managed in a foreign currency, it can only be posted to in the specific foreign currency. True False.
Company Codes for different countries can use the same Chart of Accounts. True False.
Segments have a time reference that determines their validity dates. True False.
An accounting manager wants to ensure that changes to certain fields in customer and vendor data are always confirmed by a second person who has the appropriate authorization. This dual control principle can be made required by defining particular fields as a: Confirmation field Required field Sensitive field Management field Dual control field.
A complete vendor account normally has the following parts: General data Company Code segment Purchasing Organization segment Sales Area segment Terms of Payment.
Internal number assignments enable SAP ERP users to assign numbers manually. True False.
Choose the incorrect statements: If a user can assign document numbers manually, external number assignment is allowed. External numbers may be alphanumeric. Every Company Code may define its own document types. Every Company Code may define its own document number. Document number assignment is defined at the Client level.
What influences the field status of document fields? Account-dependent field status Field status group Posting key Key-dependent field status Account group.
Choose the correct statement. The field status group controls the field display during document entry. Each GL account has a field status group. The posting period variant is assigned to the Company Code.
Identify the incorrect statements. There are two ways to reverse a document in SAP ERP Financials. A reversal reason code needs to be entered before a document is reversed. Reversal by negative posting is used to reverse documents with cleared items. In normal reversal posting the posted amount is not added to the transaction figures.
Which cash discount accounts are used in the net procedure? Cash discount clearing account Cash discount revenue account Cash discount expense account Cash discount loss account.
Which are examples for cross-Company Code transactions in SAP ERP? Central purchasing Central master data Central payment Central management.
There are two basic transactions for clearing open items: account clearing and post with clearing. True False.
GL accounts must be defined for exchange rate losses or gains. True False.
Configuration of the Payment Program is divided in the following five areas.
1. All Company Codes
2. Paying Company Codes
3. Payment method/ Country
4. Payment method for Company Code
5. House banks True False.
The sequence in which the payment methods are entered in the payment parameters does not matter. True False.
A payment proposal can only be edited, deleted, and recreated once. After this the user will need to start a new payment proposal if more changes are needed. True False.
Customers without a dunning procedure in the master record cannot be dunned. True False.
Dunning parameters are only used to specfiy what needs to be included in the dunning run. True False.
Payment Terms for credit memos usually do not apply, and the due date is typically the due date of the associated invoice or the baseline date of the document. True False.
The dunning data is not updated until the dunning notices are printed. True False.
A dunning proposal can be changed, deleted, and redone as many times as needed. True False.
The last dunning level leads to the manual dunning procedure. True False.
SAP ERP can be configured to calculate interest for customers or vendors who owe a company. Interest will be calculated for all customers and vendors including the ones owed money by the company. True False.
Payment processes only use three types of documents. True False.
Voiding a check and reversing the payment document and the vendor invoice is a process that requires two different steps. True False.
The Chart of Depreciation is defined at Company Code level True False.
The sub-number for an asset can be assigned internally or externally, depending on the configuration of the asset class. True False.
Identify the incorrect statements. Ordinary depreciation is the planned reduction in asset value due to normal wear and tear. Special depreciation is a purely tax-based type of depreciation for wear and tear. Unplanned depreciation is used for calculation of depreciation on assets that were not in the original budget. Unit-of-production depreciation is not an option in SAP ERP.
Messages for validations can have different meanings. Each message is represented by a symbol (letter). Select the symbol with an incorrect meaning. I = Information W = Warning E = Error C = Cancel.
Which of the following statements are incorrect in relation with the Fiscal Year functionality? Year independent assumes there are only regular opening and clossing dates. The Fiscal Year variant specifies if a period is open or closed. Special periods are associated with calendar dates. A year shift can only be used for non-calendar years.
Which of the following is correct about documents? A document type controls the document header data. The account group dicates number ranges and the screen layout for document entry. The document type controls the number assignment for a document. The document type controls the account types allowed for posting. The document type controls the posting rules for documents.
Which of the following statements are correct? Accounts managed in a foreign currency can only be posted to in that currency. Open item management must be used for P&L accounts. Line item display should always be set for reconciliation accounts. The three Chart of Accounts are called operating, group, and tailored. The group Chart of Accounts is used for consolidation purposes.
Which of the following statements are correct? Boolean classes specify which message classes can be used for validation messages. Validations can be tailored using unlimited field combinations to generate a user defined message as warning, error, or information message when required conditions are not met. PC Profit Center Accounting and GA Allocations (FI-SL) cannot use validations. You can substitute a Cost Center based on pre-defined conditions in the substitution rule. PS Project System and CS Consolidation only accept validations. Validation and substitution rules are only performed when manually initiated in the transaction.
With regard to tolerances, which of the following is correct? Tolerances are managed at the client level. Tolerance group 'blank' has the lowest limits and applies to anyone not assigned to a specific group. After a user has been assigned to a specific tolerance group, they need to be maintained in every Company Code for which they have access. Tolerances have settings for limits that apply at the document level and to permitted payment differences. When tolerances for the user and tolerances in the customer/vendor master are jointly related to a transaction, the most restrictive takes precedence.
Which of the following is correct regarding Cash Journal? Cash journals can be used instead of standard AP and AR transactions. Can have any needed business transactions created at the time of document entry. Allows new business transactions to be defined in two places. Cannot be used to process entries for one-time accounts. Cannot record financial transactions related to checks.
Which of the following is incorrect regarding reason codes? Reason codes can be configured to point to automatic charge-off accounts. Can automatically generate letters based on reason code. Is independent of credit management. Are exclusively used for partial payments and residual items. Can extend the customer discount to an unapplied account if within tolerance.
Which of the following statements are correct regarding document parking? When posting a parked document, a new document number is created. Held documents have no document number assigned by the system. Held and parked documents can be evaluated in reports. Workflow can be used to post parked documents. Held documents are only available to the user who created them.
Which of the following statements are correct? The paying Company Code is the one that identifies intercompany payment relationships. Activation of the payment method supplements provides additional print and sort options. All Company Code specifications pertain to the amounts for the incoming and outgoing payments. Payment method/ Country specifies the print program to be used. The Payment Medium Workbench (PMW) only requires basic ABAP skills in order to configure enhanced payment media.
Which of the following statements on payments are incorrect? Each payment run is restricted to Company Codes in one country. Next payment date considers discounts to be taken based on configuration. A proposal must be generated before the payment run can be executed. You can use multiple payment methods in the same payment run, in which case they need to be prioritized. All the above are incorrect.
At which level is the vendor account number assigned? At the Client level. At a combination of Client and Purchasing Organization segment level. At the Company Code segment level. At a combination of Client and Company Code segment level.
Segment reporting can be carried out by using Business Areas. True False.
Down payments can be posted using a special GL transaction. What is the main benefit of this functionality? It posts down payments to a reconciliation account that is different from the one used for ordinary payables and receivables. It shows data in the appendix of the balance sheet. It automatically creates the final invoice and clears down payments against it. It automatically clears down payment requests.
Identify the correct statements. Asset classes are configured at the Company Code level. Depreciation Areas hold the values calculated by different depreciation keys. In some cases an asset can be created at the time of document entry. Cross-system transfer variants hold transfer values.
Which are correct in the following statements? Classic drilldown reporting remains a good option for the evaluation of GL account balances. Report Painter is a basic reporting tool that is not compatible with Report Writer. Report-report interfaces are suitable for reporting on large numbers of characteristics and changing combinations. Forms can be a framework for reports. The different types of forms always need key figures in their definition.
A single dunning form can be used for all dunning levels. True False.