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ERASED TEST, YOU MAY BE INTERESTED ONSAP FI (Part I) - Basic Settings (Unit 1)

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Title of test:
SAP FI (Part I) - Basic Settings (Unit 1)

Description:
Org. Unit, Basic G/L setting, Variant Prin, Fiscal Year, Currencies.

Author:
Sameer Nirmal
(Other tests from this author)

Creation Date:
26/07/2012

Category:
Competitive Exam

Number of questions: 64
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Content:
The client is the highest level in the SAP ERP system hierarchy. True False.
The most important organization unit of financial accounting is the................ Client Company Code Company.
A Client represents an independent balancing/legal accounting entity. True False.
Every organization for which a financial statement and profit and loss statement is to be created must be stored _______ in the SAP system. Client Charts of account company code.
To create a company code, copy an existing company code using the "Copy Company Code" function. This copies the following data: Definition Global Parameters Customizing tables General ledger accounts (if desired) Account determination Currency.
Company Code is an Alphanumeric Key of _______ digits. Six Four Ten.
We Define following options for Company Code Company Code Key Company Name City Country Currency Language Address Chart of accounts Fiscal Year Sort Key.
It is mandatory to define a currency for each company code. False True.
The currency defined in the company code is known in SAP ERP Financials as the _____. Account Currency Local Currency.
Business area defines with __________ digit alphanumeric Key 6 4.
Segments have ___________ Characters. 10 8 4 6.
Companies have _______ characters (either numeric or alphanumeric). 6 10 4.
The country installation program creates country-specific template for Controlling areas plants purchasing organizations sales organizations credit control areas financial management areas Material management areas.
You should only run the country installation program in an initial installation of SAP ERp and not in upgrade installation. True False.
Other Important organizational units in Financial Accounting are Business area Profit Center Segment Company Functional area.
More than one company code can be assigned to one or more controlling areas. True False.
Assigning more than one company code to the same controlling area is possible only if all the assigned company codes use the same operating chart of accounts and have the same fiscal year variant. True False.
Each client has exactly one leading ledger, while additional non-leading ledgers are used for other requirements. True False.
A Scenario defines which fields are updated in the ledgers during a posting. True False.
SAP Provide various scenarios such as : Cost Center update Business area Profit Center update Segmentation Cost-of-sales accounting Preparation for consolidation.
You cannot define your own scenarios. True False.
A ledger (always the leading ledger) can be assigned one or more scenarios, or even all five at once. True False.
You can add additional ledgers for each company code. True False.
The leading ledger automatically receives the setting that applys to that Company Code. Currencies The Fiscal Year Variant The variant for the posting period Text.
The ___________ is a method of accounting for various accounting principles by making the posting to specific G/L accounts. Account Approach Ledger Approach.
Advantages of Ledger Approach are: Seperate ledger for every accounting principle. Different fiscal year variants. Manageable number of G/L accounts High Data Volume.
The variant principle is used for : Field Status Posting periods Fiscal Years Posting periods variant.
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 : Define variant Determine values for the variant Assign the variant to the objects Define properties to the objects.
The main advantage for using variants is that it is easier to maintain properties which are common among several business objects. True False.
Posting periods are defined in the fiscal year. True False.
The fiscal year variant defined the relationship between the fiscal year and the calender year. True False.
The fiscal year variant could not define as year-independant or year dependent (or year specific) True False.
The fiscal year variant can not include maximum of 16 periods that may consist of 12 normal periods and 4 specific periods. True False.
The fiscal year variant assigned to ________ Company Code Company code segment.
The fiscal year can be defined as : Year independent Year-specific Calender year.
The fiscal year variant contains the definition : Posting periods Special periods.
The system derives the posting period from the posting date. True false.
If the posting date falls withing the last normal posting period, you can post the transaction in one of the pseical periods. True False.
The fiscal year variant does not specify whether a period is open or closed. True False.
The fiscal year variant only defines the number of periods and their start and finish dates. True False.
A year-independent fiscal year variant can be defined as: Calendar Year Non-calendar Year.
A fiscal year that is a calendar year must have 16 posting periods. True False.
A non-calender year can have between 1 and 16 posting periods. If the non-calendar year does not start on January 1st, the priods of the year that belong to the former or the coming fiscal year must have an indicator : -1 +1 0.
Fiscal years are normally year-independent. True false.
A fiscal year variant has to be defined as year-specific if one or both of the following conditions are fulfilled : The start and the end date of the positng periods of some fiscal years will be different from the dates of other fiscal years. If all of the fiscal years of a fiscal year variant have the same number of posting periods, only the different period dates for the different years have to be defined.
If one year of a fiscal year variant has less posting periods than the others, it is called a shortened fiscal year. True False.
You can assign a business area to a company code directly. True False.
Which of the predefined fiscal year variant for Year-specific O1, K0, K1, K2, K3, K4 AA, AM, R1, UL, WK.
Exchange rate types : Historical rate Bank selling rate Bank buying rate Average rate The rate on certain key dates.
A currency key must not assigned to every currency used. True False.
Each currency key can have a validity date. True False.
Different exchagne rates which are distinguished by an exchange rate types can be used for : Valuation Conversion Translation Planning Inversion.
The currency pair must be maintained using Exchange rate type Translation ratios.
Translation ratios can be maintained on a time period basis. True False.
You can only use one of these tools for each exchange rate types. Inversion Base currency Exchange rate spreads.
A base currency can be assigned to an exchange rate type. True False.
A translation between two foreign currencies is calculated via the base currency, that is, by combining two exchange rates. True False.
Currencies are identified into the system through Currency Keys. True False.
Exchange Rate types are : B : Bank selling rate G : Buying rate M : Average rate G : Bank selling rate.
A Base currency is also known as : Reference Currency Exchange Currency.
_______ represents a currency value expressed in units of the local currency per unit of foreign currency. Direct Quotation Indirect Quotation.
_______ represents a currency value expressed in units of the foreign currency per unit of the local currency. Direct Quotation Indirect Quotation.
If you do not enter a prefix, the standard setting is valid: " " (blank, without a prefix) for direct quotation exchange rates "/" for direct quotation exchange rates.
If you increasingly use indirect quotation as well as direct quotation, you should define an alternative prefix for both : " * " for direct quotation, " / " for indirect quotation. " * " for direct quotation, " " (blank) for indirect quotation.
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