Payment methods are defined with: Currency for the Company Code A House Bank link A currency for the Country level Maximum and minimum payment amounts.
Drilldown reporting is a tool that enables users to analyze GL account transaction figures and financial statements. True False.
Once a Chart of Depreciation has been assigned to a Company Code, the required data for asset accounting should be added to the Company Code. True False.
All reconciliation account and all GL accounts with open item transactions in a foreign currency must be assigned to a GL account for relaized losses and gains. Which of the following options are usable for this assignment? A single GL account can be used for all currencies and currency type. A single GL account cannot be used for currencies and currency type. A single GL account can be used per currency. A single GL account cannot be used per currency.
Which statements are relevant for the Payment Medium Workbench (PMW)? New formats can be created with liitle programming experience. Payment groups are created depending on the level of granularity. Performance for mass payments is improved. PMW can only be used with certain payment methods. There are four steps in the PMW process.
Identify the correct statements regarding a Chart of Depreciation. Needs to be assigned to a Company Code. Depreciation Areas can be added or deleted according to needs. New Depreciation Areas can be opened even after system Go-live. The fact that a Chart of Depreciation is country-specific implies that it meets all requirements for the defined country, and cannot be changed.
Which statements are correct in regards to Asset classes? It has two main sections: a master data section and a depreciation area section. For flexiblity purposes an asset can be assigned to multiple asset classes. An asset class is assigned to at least one Chart of Depreciation. It only has a single section for master data. Asset classes are created at the Client level. Assets under construction and low value assets are special asset classes. Many different Charts of Depreciation can be assigned to the same asset class. Asset classes are created at the Company Code level.
Number assignment for fixed assets can be defined as internal or external. True False.
SAP ERP delivers standard Depreciation Areas, therefore additional areas cannot be defined. True False.
When multiple financial statement versions are in use, multiple depreciation areas need to post to the GL. True False.
If necessary, dunning notices can automatically be printed out right after the dunning run. True False.
When Company Codes use the same Chart of Accounts, they cannot have different Charts of Depreciation. True False.
Identify the correct statements regarding drilldown lists. An individual object is formatted for all key figures according to the form. Usually key figures are in rows of a list. Key figures are represented by the columns of a list. Characteristic values are represented by the row. Several objects are formatted using a selection of key figures.
Which Report Painter report only takes into consideration financial statement items needed for the calculation of specific key figures? Balance display Reports for financial statement analysis Key figure reports.
Reports for financial statement analysis, key figure reports and balance display are report types usable for: Business area evaluations Client evaluation GL account evaluations.
Exception lists can contain any of the items below: No payment block indicator. Blocked items. Vendor accounts with credit balances. Items with invalid payment methods. Items with missing payment methods in the master data and in the line item.
The Payment process consists of five steps. True False.
Identify the incorrect options pertaining to main settings for the Payment program. All Company Codes Payment method/Country Bank currencies Company Codes Bank selection Payment method for Company Code Accounts and Amounts.
When no particular Company Code is mentioned in Automatic payments for all Company Codes: The system displays an error message. The system automatically considers the sending Company Code as the paying Company Code The system will automatically derive the paying Company Code.
Tolerance days for payments will defer payment to the: Next transaction Next month Next posting period Next payment run.
The Payment Program is design to process incoming payments as well as outgoing payments. True False.
The Paying Company Code is responsible for handling outgoing payment. True False.
How are exchange rate differences posted? Manually in a profile and loss account. Manually as realized gains or losses. Automatically as unrealized gains or losses. Automatically as realized gains or losses.
Manual depreciation can be used as an approach for posting write-ups. True False.
In SAP ERP, the length of a GL account number ranges between: One and six digits One and seven digits One and eight digits One and nine digits One and ten digits.
What must be done if a customer wants Profit Center updates to be included in the GL, in an environment that is running the new GL? Assign the Profit Center update scenario to the ledger. Activation of transfer prices in Profit Center Accounting. Setting up the same group currency for all Company Codes and Profit Centers. Deactivation of document splitting for profit centers.
What is the maximum number of line items that can be entered in an FI document? Unlimited 99 9999 999.
What definition is essential in the configuration of a dunning procedure? The dunning levels and the language of the dunning note. The dunning levels and the charges for each dunning level. The dunning levels and the account determination to post dunning interest. The dunning charges for each dunning level and the customers to be dunned.
How can a user change the short text field of a GL account? By making the change at the beginning of a new fiscal year. By ensuring that the fields status of the Chart of Accounts segment allows it. On a central basis in the Chart of Accounts segment. On an individual basis in the Company Code segment.
Which option below provides the call-up points for validations in FI? Document header, document type, and complete document. Basic data section, detailed data section, and line item. Basic data section, line item, and complete document. Document header, line item, and complete document.
A company decides to merge two Cost Centers, and wants all future postings to go to a single Cost Center. If a posting is made to the wrong Cost Center in FI, SAP ERP should automatically replace it by the correct one. How can this be implementd? By defining two substitutions for the Line Item call-up point. By creating a user-specific program that will automatically substitute incorrect Cost Centers overnight. By defining a substitution in FI with the incorrect Cost Center as a prerequisite and the correct one as the substituted value. By defining a validation in CO to ensure that the functional area is filled in the Cost Center master.
What determines the field status for a vendor? Account group, transaction, and Chart of Accounts Account group, Chart of Accounts, and Company Code Account group, transaction, and Company Code Transaction, Chart of Accounts, and Company Code.
A business area can be directly assigned to a Company Code True False.
Which tools are used for maintaining exchange rates? Direct quotation Inversion Indirect quotation Base currency Exchange rate spreads.
A GL account has the following segments: Chart of Account segment and Corporate segment. True False.
All GL accounts with open item management are required to have line item display. True False.
If Company Codes use different operational Chart of Accounts, you cannot carry out cross-Company Code controlling. True False.
The options for field status definitions have the following priority, starting with the highest: Required, Display, Hide, Optional True False.
Segments are assigned to a hierarchy similar to the hierarchy of the Profit Centers from which they can be derived. True False.
The defintion of sensitive fields is not Company Code-specific. True False.
Maintenance for Customer and Vendor accounts must be decentralized by Company Code. True False.
General Ledger accounts always use external number assignment. True False.
Choose the correct statement. At the beginning of each year the system always restarts the document number assignment at the start of the number range. Document number ranges can overlap if needed. Several number ranges can be assigned to a single document type simultaneously. The same number range cannot be used for several document types. All the above statements are incorrect.
What are the standard posting keys for GL accounts and on which side of the account do they post to? Debit, posting key 70 Credit, posting key 75 Credit, posting key 50 Debit, posting key 40 Credit, posting key 39.
Identify the incorrect statements: The authorization group in the posting period variant only pertains to authorization for posting in special periods. A posting period variant must contain at least one line with the entry valid for all accounts. The account range in the posting period variant consists of GL accounts. Posting periods are opened and closed automatically. It is not possible for more than two periods to be open at the same time.
Select the preconditions for processing negative postings. Negative reversal postings need to be included in the company's business process. The Company Code must allow negative postings. The user wants to set the transaction figures back to the initial state prior to the incorrect posting. The reversal reason must be defined for handling negative reversals.
What are the types of taxation that can be mapped in the SAP ERP system? Taxation at national level Taxation at international level Taxation at regional/jurisdictional level Input tax Outpust tax.
What are the correct statements regarding tax in cross-Company Code transactions? A cross-Company Code transaction involves at least two documents. Tax amounts in a cross-Company Code transaction cannot automatically be distributed to the Company Codes in which the expenses/revenues occurred. A custom report needs to be configured to distribute tax to the Company Codes in which the expenses/revenues occurred. Cross-Company Code transactions are not supposed to involve tax. By default, the tax calculated is entirely posted to the first Company Code.
Identify the incorrect statements here below. Account clearing occurs when a credit memo is cleared with an open invoice. Posting with clearing involves posting a payment for an open invoice with a resulting zero balance. A partial payment clears the invoice and the payment; then creates a new open item. A residual item results in an open invoice and an incoming payment remaining in the customer account as open items.
Which statements indicate the correct ways a GL account can be determined for exchange rate differences? A single GL account can be used for all currencies and currency types A single GL account can be used for every currency and currency type. A single GL account can be used for every currency. A single GL account can be used for every currency type. All statements above are correct.
The parameters indicate the accounts and documents for inclusion in a payment run. True False.
The Company Codes entered in a payment run parameters can pertain to multiple countries. True False.
The exception list is the confirmation for a successful payment proposal. True False.
Dunning notices should only be sent to customers. True False.
Identify the incorrect reasons for an overdue item to not be dunned. The account is not included in the parameters. The items or accounts are blocked for dunning. The items exceed the grace period. The overdue amount is greater than the minimum amount. The dunning data has not been updated since the last dunning run and 'Always dun?' is not checked.
How many steps are in a dunning run? 5 6 3 4.
Calculation of interest automatically starts on overdue customer accounts, even if the account master data has no interest calculation indicator. True False.
SAP ERP can be configured to perform interest calculation on account balances and on arrears. True False.
You cannot void a check unless you reverse the payment document. True False.
In the Lockbox process, payment advice notes are used to store the information needed to clear open items on vendor accounts. True False.
The sample Chart of Accounts provided by SAP can be tailored to meet the requirements of a specific company. True False.
The standard mass retirement function in asset accounting uses a worklist. True False.
SAP ERP offers different depreciation calculation methods. Identify the incorrect individual calculation method. Base method Declining-balance methods Maximum amount methods Straightline methods Period control methods.
Identify the incorrect New GL scenario. Cost Center update (FIN_CCA) Preparation for consolidation (FIN_CONS) Business Area (FIN_GSBER) Profit Center update (FIN_PCA) Segmentation (FIN_SEGM) Cost Element accounting (FIN_UKV).
Select the correct statements regarding GL Account Groups. They are used to assign number ranges. They are used to assign accounts to the controlling area. They are used to assign accounts to the Company Code. They are used to assign accounts to business areas. They assign the status of the fields in the Chart of Accounts segment.
Select the correct answer. A business area can be assigned to a Company Code. A Company Code may be assigned to multiple Controlling Areas. A Company Code may have more than one Chart of Accounts. A Plant can be assigned to more than one Company Code. All answers above are incorrect.
Which of the following statements is correct regarding currencies? The relationship between currencies is maintained by exchange rate type. Currency relationships are date independent. Using direct quotation, a unit of local currency is quoted for the foreign currency. Worklists can streamline and secure currency maintenance. A currency key must be assigned to every currency used.
Special GL transactions are unique business events characterized by which of the following? They pertain to noted items, automatic offsetting entries, and free offsetting postings. Free offsetting entries are considered to be statistical postings. Special posting key settings must be used to enter special GL postings. Postings are mapped to an account stored in Customizing. Noted items are one sided entries.
Which of the following is correct regarding payment terms? They are valid in customer invoices, vendor invoices, and non-invoice related credit memos. Payment terms have four different date options based on the document, the system, posting and clearing dates. Can be recorded in a Company Code segment, a Sales Area segment, or a Purchasing Organization segment. A special indicator in installment plans can be used for the terms to apply to each individual installment. All the statements are incorrect.
Which of the following is correct regarding exchange rate differences? Exchange rate differences are immediately recognized after completion of a transaction. There is an option for users to choose the difference account manually. Can be differentiated by account, currency, and currency type. Are directly posted to the relevant reconciliation account. Are recognized during month end operations and reporting.
Which of the following reflects the benefits of using Workflow to post parked documents? It supports all company processes within the System. The users have access to all details that are need to perform consecutive steps. Authorized users can customize the standard Workflow templates as needed. It automatically displays messages that spell out the corrections needed in a document.
Which of the following statements are correct? SAP Business Workflow has three layers. Tasks are implemented in the Business Object Repository as methods of a business object type. Each task can be performed by a group of potential processors. The workflow builder is needed to maintain the process level. All statements are correct.
Which of the following statements regarding payments are correct? Payment method for the Company Code specifies which master record fields will be checked during the payment process. Settings in the Payment method/Country area indicate the document types for posting. A separate payment method is required for each currency. Payment methods must be defined at the Company Code level for accuracy purposes. All statements are incorrect.
Identify the correct statement regarding the Application Area. The application area identifies the place where a validation is used. The application area identifies the place where a substitution is used. The application area identifies the place where a rule is used. All are incorrect.
A foreign currency cannot be designated as the GL account. True False.
Identify the correct statement about a currency. Every currency key can have a validity date. A currency does not need a validity date. Every currency can have a validity date. Currency keys don't need validity dates.
Which statements are incorrect about the Field Status? (Review) Sub-ledger accounts have a Field Status Group similar to GL accounts. The fields for Account Currency and Field Status Group can be optional or required. Fields that are not in use should be assigned the 'Optional' status. Hidden fields cannot contain any values, because they are invisible. The 'Hide' status field cannot be used in combination with the 'Required' entry field. All are incorrect.
Possible definitions for a year-independent fiscal year variant include: Non-calendar year Calendar year Statutory calendar year Fiscal calendar year.
Identify the correct statement pertaining to Company Code configuration in the IMG. An existing Company Code can be copied. A new Company Code can be created without reference Company Code. A new Company Code can be created from a country template. Best practice recommends copying an existing company. All are correct.
The asset classes defined in the Chart of Depreciation apply to all Company Codes True False.
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