Test sap fi 4

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Title of test:
SAP FI

Description:
Comprehensive Exam

Author:
Awais Shafi
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Creation Date:
18/01/2015

Category: Others

Number of questions: 86

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Content:

Solution Manager consists of which components: (Three are correct) System Monitoring Service Legal Management Business Process Repository Support Desk Administration SAP Service Market Place Business Process Monitoring.
Which statements are correct regarding solution manager: (Two are correct) Solution manager is a software application that enables representation and documentation of the entire SAP Solution SAP Solution manager enables component oriented design and ongoing system monitoring during operation Solution manager is a customer platform that enables representation and documentation of the entire SAP solution SAP Solution manager enables process oriented design and ongoing system monitoring during operations.
Which of the following statements are correct : The system landscape does not include Solution Manager SAP Solution manager is required to efficiently and effectively only implement and operate an enterprise’s SAP Solutions You cannot access SAP Market place through Solution Manager None of the Above.
The Five phases in SAP Roadmap are: (5 are correct) Project Preparation Go-Live & Support Realization Final Preparation Business Blue Print Business Process Re-Engineering.
The following are roadmaps in SAP Solution Manager: (2 are correct) Implementation Roadmap Global Template Roadmap Operations Roadmap.
Copying an existing company code using the “Copy Company Code” function copies the following: (5 are correct) Global parameters Currency General ledger accounts Customizing tables Company code defaults Fiscal Year Definition Account Determination.
Defining a company code includes: (5 are correct) 4 digits numeric key Company name Currency Address City Country Fiscal Year Country Key.
Which of the following statements are correct? (2 are correct) More than one chart of accounts can be created for each client More than one company code can be allocated to the same chart of accounts More than one company code can not be assigned to one or more controlling areas.
Which line item field is filled automatically by the sort key field of a master record (G/L account, customer, or vendor) : (1 is correct) Item text Assignment Amount in document currency Number of the invoice to which the transaction belongs.
What does the fiscal year variant control? (2 are correct) The number of special periods available in addition to the normal periods The number of periods (up to 16 posting periods including special periods) The open periods (a period interval for closing and another for day-to-day business) The number of periods (up to 52 posting periods and special periods).
When dealing with Financial Statement Versions (FSVs), how do you ensure that the requirements of the various target groups (for example auditors, tax authorities, and banks) are satisfied? (1 is correct) Create different versions of the same FSV. Create one FSV, then save different variants based on the needs of the various groups. Create one FSV and enhance it with different sets of notes. Create different FSVs based on the needs of the target group.
Which objects can be assigned to an asset master record with New General Ledger Accounting? (3 are correct) Profit center Internal order Account determination Profitability segment Segment.
For which scenario can you use the cash journal? (1 is correct) To manage cash in local branches and offices. To make remittances to vendors. To post incoming and outgoing payments in any transaction currency To record documents that will not be included in the general ledger.
What are the prerequisites for setting up cross-company cost accounting? (2 are correct) The same fiscal year is used for all company codes. The same variant for open periods is used for all company codes. The same chart of accounts is used for all company codes. The same currency is used for all company codes.
You post a G/L document. For the Text field, the field status of the posting key is set to Required Entry and the field status of the G/L account is set to Hidden Entry. What happens during posting? The document is posted. A warning message is shown. An error message is shown The Text field is hidden.
Which Customizing settings can you make for payment terms? (3 are correct) Determine a default payment method for the line item Determine whether a payment term is valid only for the vendor, only for the customer, or for both customer and vendor Determine a default currency code for the header of the accounting document Determine that invoices are locked for dunning Determine that invoices are locked for payment.
To which of the following does an asset class apply? (1 is correct) To all company codes in a controlling area To all company codes in a client To all company codes within a client, which share the same chart of accounts.
Which of the following are interactive functions available in the SAP List Viewer (3 are correct) Dual control Sorting Master data modification Summation Filters.
In your leading ledger (ledger solution), balance sheets must be created for company codes and segments. Which Customizing settings do you need to make? (2 are correct) Define a retained earnings account Define two retained earnings accounts and assign them to your P&L accounts. Assign the Segment Reporting scenario to your leading ledger Activate cost of sales accounting.
Which object has to be used to avoid a change of reconciliation account in the customer's master data? The field status group of the reconciliation account The field status of the posting key The field status of the customer account group The field status of the Customer Master data.
Into which types can Special G/L transactions be divided? (3 are correct) Automatic offsetting entry Noted item Value adjustment Interest Free offsetting entry.
What do you use the Closing Cockpit for? To perform periodically recurring activities To run reconciliation between CO and FI To perform day-to-day activities To create mass change of offsetting days for existing activities.
You want to capitalize an Asset under Construction (AuC) using the line item settlement process. However, the settlement does not work. What could be the reason? (3 are correct) The AuC has not been released. There is no settlement profile assigned to the company code. The settlement profile does not allow assets as valid receivers. The status of the AuC is set to Summary Management. The Depreciation Engine is not active.
In the New General Ledger Accounting, how would you incorporate companies with different fiscal years if you wanted to assign them to the same controlling area? Use the same fiscal year variant for all company codes and do a reversible close for the company codes that have different fiscal years. Create company codes with different fiscal year variants and assign them to the same group company for reporting purposes. Create company codes with the same fiscal year variant and assign the company codes that have a different fiscal year to non-leading ledgers with the appropriate fiscal year variant. Use the same fiscal year variant for all company codes and set up parallel accounting for company codes that have different fiscal years.
What is one of the benefits of document parking? It enables technically incomplete documents to be posted. It enables individual document numbers to be assigned. It provides a user friendly way of changing posted documents. It enables the use of the dual control principle.
Which objects can be assigned to an asset master record? (3 are correct) Cost center. Internal order. Profit center. Activity Type Profitability segment.
Your customer wants to clear minor payment differences for incoming payments automatically. Which objects do you have to use to fulfill this requirement? Tolerance groups for G/L account and tolerance groups for employees Tolerance groups for G/L account and tolerance groups for customers/vendors Tolerance groups for employees and tolerance groups for document types Tolerance groups for employees and tolerance groups for customers/vendors.
Your customer wants to add a new company code and asks you to make the configuration settings for document types and number ranges. What do you have to do? Allow all document types for the new company code. Define number ranges for the new company code Set a second number range for all document types. No additional settings are necessary.
Which are the necessary steps to create a validation? Check, control, message Prerequisite, check, update, control Check, update, message Prerequisite, check, message.
When parking a document, which of the following occurs in the system? The document number is assigned and transaction figures are updated. The document number is not assigned and transaction figures are not updated. The document number is assigned but transaction figures are not updated. The document number is not assigned but transaction figures are updated.
You can configure different types of Chart of Accounts in the ERP system. Which one of the following are TRUE Chart of Accounts? ( 3 are correct) Group chart of accounts Country-specific chart of accounts Operating chart of accounts Plant-specific chart of accounts.
If a vendor is also a customer, it is possible to clear both roles against each other. Which settings are necessary to implement this? (2 are correct) The "Clearing with Vendor" field must be selected in the customer account, and the corresponding field must be selected in the vendor account. The vendor and the customer must be assigned to the same group account. The vendor number must be entered in the customer account or the customer number must be entered in the vendor account. The payment program must be set up to allow debit checks for vendors and credit checks for customers.
In a payment run, the data entered for a payment method in the document may differ from the master data. How is this resolved by the system? Document data overrides master data. The payment run stops and the system issues an error message. The payment run temporarily stops, and the system prompts you to correct the data. After you have corrected the data, the payment run continues. Master data overrides document data.
The organizational units of Financial Accounting are used for external reporting purposes; that is, they fulfill requirements that your business is subject to from external parties (e.g. legal regulations) Which of the following organisational units are Mandatory in an ERP system with Fl? (2 are correct) Client Fiscal Year Business Area Company Code.
You want to use external number assignment for specific document types. What is the special feature of external number assignment? The numbers can be alphanumeric. The number ranges can overlap. The number ranges can be used across all company codes. The system issues the numbers automatically.
In New GL, how would you incorporate companies with different fiscal years if you wanted to assign them to the same controlling area? Use the same fiscal year variant for all company codes and do a reversible close for the company codes that have different fiscal years. Use the same fiscal year variant for all company codes and set up parallel accounting for company codes that have different fiscal years. Create company codes with different fiscal year variants and assign them to the same group company for reporting purposes. Create company codes with the same fiscal year variant and assign the company codes that have a different fiscal year to non-leading ledgers with the appropriate fiscal year variant.
Which of the following objects can you post to via the cash journal? (2 are correct) Asset master Accrual Engine Customer One-time customer Material master.
What do you define when you configure a dunning procedure? Dunning levels and the language of the dunning note Dunning levels and account determination to post dunning interest Dunning charges for each dunning level and customers to be dunned Dunning levels and dunning charges for each dunning level.
Which of the following task types are supported by the Closing Cockpit or Schedule Manager? (3 are correct) Spreadsheets Transactions Reconciliation keys Notes (as a reminder or milestone) Programs with or without variant.
What is the maximum number of line items of an FI document? Unlimited 999 99 9999.
What are the prerequisites for setting up cross-company-code cost accounting? (2 are correct) The same fiscal year variant is used for all company codes. The same currency is used for all company codes. The same variant for open periods is used for all company codes. The same chart of accounts is used for all company codes.
Which are the correct series of steps in the payment program? CD Maintain parameters, Proposal run, Printing Payment Media, Execute a payment run CD. Proposal run, Maintain parameters, Printing Payment Media, Execute a payment run CD. Proposal run, Execute a payment run, Printing Payment Media, Maintain parameters CD. Maintain parameters, Printing Payment Media, Proposal run, Execute a payment run CD Maintain parameters, Proposal run, Execute a payment run, Printing Payment Media.
What is the purpose of account determination in the accrual engine? (2 are correct) To determine the CO object To determine the correct posting period. To determine the document type To determine debit and credit accounts.
Your customer runs an SAP ERP system with New General Ledger Accounting activated. What do you need to do for Profit Center updates to be part of the general ledger? Activate transfer prices in Profit Center Accounting. Set up the same group currency for all company codes and profit centers. Deactivate document splitting for profit centers. Assign the Profit Center Update scenario to the ledger.
What does the posting key control? (3 are correct) Account type Document type Field status Debit/credit indicator Number range.
SAP Solution Manager provides support throughout the life cycle of solutions - which common usage scenario is missing from the list of usage scenarios below? (Implement SAP Solutions), (Monitor SAP Solutions), (Manage Service Desk), (Link to SAP Services), (Upgrade SAP Solutions) Monitor Service Desk Manage Change Requests Link to Change Requests Implement SAP Services.
You entered a G/L account posting and received an error message which says that account type S is not allowed. Which object causes this error ? Field status variant Posting key Document type Currency key.
Steps for defining variant are: (3 are correct) Define variant Determine values for the variant Assign the values to the object Assign the values to Chart of Accounts.
The following applies to the special general ledger type of noted items. ( 3 are correct) The special G/L indicators of your own can be created of this type The account for the offsetting entry is selected automatically No postings are made on an offsetting account Noted items are posted on an alternative reconciliation account Noted items cannot replace any proper FI documents.
Which statements are correct? (3 are correct) A company code can be assigned several workflow variants A task can be assigned one possible processor only It is possible to design multilevel workflow sequences The same workflow variant can be assigned to several company codes.
Name reasons for archiving data. (3 are correct) Improve response times Keep data secret from auditors Reduce system downtimes during software upgrades Lower the effort involved in database administration.
Where do you define the reconciliation account that will be used by an asset? Account determination in asset class Account number in fixed asset Account determination in depreciation area Account number in depreciation area.
What will be the new ledger definitions after the activation? Choose all that apply. (3 are correct) Control Parameters (as before) will be from company code. The leading ledger will manage local currency(s) assigned to company code. New GL will use the same Fiscal Year Variant and Posting Period Variant that is assigned to company code. There will be or can be multiple leading ledgers. If multiple ledgers are used, values from all the ledgers can be posted on to CO.
Pre-closing activities that begin in the old month include: (2 are correct) Open new accounting period Foreign currency valuations and financial statement adjustments Enter accruals/deferrals, process recurring entries and bad debt expense in AR, post depreciation and interest expenses in asset accounting Creation of external and internal reports.
Which of the following are “special items” in financial statement version? (3 are correct) Profit and loss results Expenses Accounts not assigned Notes to financial statement.
Which of the following are required settings for foreign currency valuation. Define exchange rates Define valuation methods Define expense and revenue accounts for exchange rate differences Specify balance sheet adjustment accounts for receivables and payables. All of the Above.
The ‘posting period’ can be defined for each: (Three are correct) Company code Accounting principle Posting period variant Accrual type.
Accounts are determined using ‘derivation rules’ consisting the following. Which of them is not the part of it? Source fields Target fields Conditions Rule Entries.
In SAP every document is uniquely identified by the following fields. (3 are correct) Company code Document number Fiscal year Posting period.
What are the fields by which every dunning program run is identified? (2 are correct) Run date Program number Customer number Identification.
Items that are to be dunned are grouped together in dunning notices if they have the same of following: (3 are correct) Company code Dunning area Account Number range.
Which of the following is not correct? The main ledger generally reflects the accounting principle used to draw up consolidated financial statements. The main ledger is the only ledger that is integrated with controlling module by default. For parallel financial reporting, other ledgers cannot be used in addition to the main ledger. Consolidated financial reporting is normally mapped with main ledger.
The following can be used for G/L account evaluations: (3 are correct) Balance display Key figure reports Reports for financial statement analysis Interim report.
Splitting process can be divided in to following steps: (3 are correct) Active split Passive split Legal split Clearing lines/zero balance formation by document Partial split Total split.
Which of the following are advantages of ledger solution? (3 are correct) You maintain a separate ledger for every accounting principle You can use different fiscal year variants in this scenario The number of G/L accounts is manageable The data volume decreases.
The following statement(s) is/are correct with holding documents: (3 are correct) Free assignment of the designation/ID A document number is assgined No update of the transaction figures Not taken in to account for evaluations/reports.
Which of the following are Form Types in drilldown reporting? (3 are correct) Single axis form without key figure. Single axis form with key figure. Dual axis form with key figure. Dual axis form without key figure.
Which of the following is not a function of SAP List Viewer? Select List. Select Detail. Summation Select Colums Select Report.
What characteristic is needed when we need to calculate profits according to the cost-of-sales approach (Please choose the correct option)? Plant. Cost Center. Functional Area. Dummy Profit Center. Operating Concern.
What is the intention of a task list? It is intended to group all work to be done. It is intended to be restricted to the financial manager. It is intended to make the user list the transaction codes. It is intended only to collect several jobs. It is intended to be self-documented.
Which value should be used when you want to post asset values and depreciation periodically: (0) (1) (2) (3).
Each asset class consists of two sections: Master Data section Depreciation data section Chart of Accounts Section.
For those depreciation areas that post depreciation to GL, you must assign the following additional GL accounts (For ordinary depreciation) : (3 are correct) Accumulated Depreciation Area Expense Account Revene account for write-up Loss account.
The layout of data fields can be maintained at following three levels: Asset Class Main Asset Numner Subnumber Account Group.
Several pieces of equipment can be assigned to an asset, but a piece of equipment can only belong to one asset. True False.
Various options for external acquisition of asset are: 3 are correct In FI-AA with automatic offsetting entry with link to purchase order In FI-AA with automatic offsetting entry without a link to purchase order In MM In FI-AA with integration with Accounts payable.
Different ways of posting asset retirements are: (3 are correct) Retirement with revenue and vendor Retirement with revenue but without customer Retirement without revenues Mass asset retirement.
In payment program configuration, for all company codes define the follwing: ( 4 are correct) Amounts Ranking order Intercompany payment relationships Cash discounts Tolerance days The company code that process payments.
The document type for payment documents is defined in the country-specific specifications for payment method True False.
Point out the incorrect step among the steps that have to be taken by the dunning program: Maintain parameters Proposal run Edit the parameters Print the dunning notices.
The dunning program settings are divided into following categories: (5 are correct) Dunning procedures Dunning levels Expenses Minimum accounts Environment Dunning interval in days.
Steps in dunning run are: (3 are correct) Account selection Line item selection Dun Line items Dun accounts.
An account is only dunned if all the overdue items have exceeded the minimum days in arears: True False.
The sequence of steps involved in acquiring asset through MM are: (4 are correct) Purchase requisition Invoice receipt Goods receipt Purchase order Goods received note.
Sequence of Steps for settling asset under construction on line item basis are: (3 are correct) Assign a settlement profile to your client Define distribution rules for these line item Post the settlement of line items to the specified receivers Select all line items that you want to settle.
The Sequence of steps to convert from payment method to PMW are: (6 are correct) Enter PMW form accompanying sheet Remove payment media form Fill note to payee Change over to PMW Define PMW format Create and assign selection variants Print payment media.

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