Which of the following statements are correct for a Company Code? (Choose 3) Can belong to more than one Controlling Area. General Ledger administration is set at the level of the Company Code. The Business Area is identified via the Company Code. Many Company Codes can belong to the same Controlling Area.
Which of the following statements are correct for the Chart of Accounts? (Choose 4) Can be country specific. Contains definition of all GL accounts. Contains information for account control and management. Is assigned to a company code. Is assigned to a Controlling Area.
Which of the following statements are correct with regard to the Customer Master records? (Choose 2) Contain reconciliation account information. Are created using an account groups. Have General, Company Code and Purchasing Organization segments. Have General, Company Code and Sales Area Segments.
Which of the following are key organizational levels in Financial Accounting? (Choose 2) Company code Business Area Plant Purchasing Organization Chart of accounts.
Which of the following statements are true regarding the chart of accounts? (Choose 2) A chart of accounts contains the definitions of all GL accts. A charts of accounts can be country-specific. A chart of accounts can only be assigned to one Company Code A chart of accounts determines, during document posting, if an acct is credited or debited.
Which of the following are true about reconciliation accounts? (Choose 3) A posting cannot be made directly to a reconciliation account. A posting to a sub ledger account automatically creates a posting to the associated reconciliation account. Reconciliation accounts are generally associated with revenue and expense accounts. Reconciliation accounts are specified in the definition of sub ledger accounts.
Which of the following statements are true regarding company codes? A company code uniquely identifies a business area. A client can only have one company code. The GL is managed at the company code level. A company code can be assigned to multiple controlling areas.
Which of the following is correct with regard to a FI posting for the following scenario: SSB received $10000 from an investor in exchange for common stock in the company? Debit bank account, credit common stock account. Credit bank account, debit common stock account. Debit bank account, credit accounts payable. Debit bank account, credit revenue account. Credit bank account, debit revenue account.
Which of the following statements regarding financial accounting are true? Financial accounting: (choose 2) Is externally focused Is internally focused Is concerned with allocating costs and revenues Is concerned with reporting based on legal requirements Is concerned with reporting based on company needs.
Which of the following statements regarding of management accounting are true? Management accounting: (choose 2) Is externally focused Is internally focused Is concerned with allocating costs and revenues Is concerned with reporting based on legal requirements Is concerned with reporting based on company needs.
Which of the following statements are true regarding a business area? (Choose 2) Financial statements can be generated for a business area A business area spans multiple company codes A business area is an organizational level intended for external reporting purposes A chart of accounts is associated with a business area.
Which of the following are true regarding reconciliation accounts? (Choose 2) They are part of the chart of accounts The are associated with revenue accounts They are associated with sub ledger accounts Direct postings are possible into reconciliation accounts They are associated with expense accounts.
The __________________ is the GL clearing account for Purchasing.
The ______________ controls the company code segment fields.
Financial statement versions support various reporting requirements. True False.
Each GL Account has a Chart of Account and Company Code section. True False.
Each GL Account is defined according to a Chart of Accounts. True False.
Inside the GL Account you can view the balance for each vendor. True False.
Each GL account has a chart of account segment and company code segment. True False.
Inside the GL account, Accounts Payable, you can view the balance for each vendor. True False.
FI postings can be made directly to reconciliation accounts. True False.
Business areas cut across company codes. True False.
A company code can use multiple ledgers, but there can only be one leading ledger. True False.
Financial accounting primarily has an external focus. True False.
Sub ledger accounts (customer, vendor) are part of the chart of accounts. True False.
Direct postings are not possible to reconciliation accounts. True False.
In the purchasing process, a FI document committing funds is created upon the creation of the purchase order. True False.
Which of the following statements are correct for posting Assets in FI-Asset Accounting? (Choose 3) Directly to a clearing account Directly from Cost Center Through MM – Purchasing To a Vendor.
Which of the following statement are correct with regard to the asset explorer? (Choose 3) You can see the business transactions that have been posted You can not drill back to the FI transaction that created the posting You can see planned depreciation You can see posted depreciation by depreciation area.
The Asset Explorer shows: (choose 3) Planned Values Posted Values Parameters Comparisons.
Inside the GL Account you can view the history of an asset. True False.
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