You can assign a business area to a company code. TRUE FALSE.
What is the format of a company code key? Choose the correct answer. Two-digit alphanumeric Four-digit alphanumeric Six-digit alphanumeric Eight-digit alphanumeric.
What is the name of the leading ledger that SAP provides with the standard system? Choose the correct answer 0L 1L 2L 3L.
The variant principle is used in the SAP application to assign particular properties to one or more objects. How many steps does the variant principle have? Choose the correct answer. 1 3 4 5.
Which of the following is the first step in the variant principle? Choose the correct answer. Define variant Determine values for the variant Assign the variant to the objects Create multiple variants.
The fiscal year variant contains the definition for the posting periods and special periods. TRUE FALSE.
The fiscal year variant specifies a period as open or closed. TRUE FALSE.
If the fiscal year differs from the calendar year, but the posting periods correspond to calendar months, then the day limit for February should be 29 to take leap years into consideration. TRUE FALSE.
Which of the following helps to reduce the amount of work involved in the maintenance of exchange rates? Choose the correct answer. Conversion Inversion Exchange Static rate.
A chart of account must be assigned to every company code for which accounts are to be set up. TRUE FALSE.
Which of the following information is entered in the chart of accounts segment of a GL account? Choose 3 correct answers. Account number Control fields Consolidation fields Currency fields.
To use an account from the assigned chart of accounts in your company code, you must create a company code segment for the account. TRUE FALSE.
In a balance sheet account, the balance is carried forward to a retained earnings account and the balance sheet account is set to zero. TRUE FALSE.
Which field status has the lowest priority? Required entry Hide Optional entry Display.
All postings to the subledger accounts are automatically posted to the assigned reconciliation accounts. TRUE FALSE.
When you create a GL account, the SAP ERP system uses the company code local currency as the default account currency. TRUE FALSE.
Which of the following options can you use to change the GL account master data using collective processing? Choose 3 correct answers. Change chart of accounts data Change company code data Change client level data Change account descriptions.
Different accounts of one operational chart of accounts can refer to the same group account. TRUE FALSE.
The country chart of accounts number (alternative account number) is entered in every chart of account segment. TRUE FALSE.
You can save a segment in the master data of a profit centre. TRUE FALSE.
In many business cases, particularly in logistics, you have to enter the segment manually. TRUE FALSE.
The profit centre is the best object from which segments can be uniformly derived. TRUE FALSE.
Segments have a time reference. TRUE FALSE.
Segments are assigned to a hierarchy. TRUE FALSE.
It is possible to assign the same segment to multiple profit centres. TRUE FALSE.
Which of the following segments contains the general data of a customer or vendor that can be accessed throughout the organization? Choose the correct answer. Organization level Client level Company code Account level.
In Financial Accounting, after the customer or vendor account is created, you can no longer change the account group. TRUE FALSE.
A one-time account master record contains information about a specific customer or vendor. TRUE FALSE.
Customer and vendor accounts can use the same number ranges. TRUE FALSE.
The field status entries in individual areas, such as account group, activity, and company code, compete with each other and the field status with the highest priority is used. TRUE FALSE.
A fiscal year variant defines the number of periods in the fiscal year. TRUE FALSE.
Document types are created at company code level. TRUE FALSE.
Which of the following statements is correct for external number assignment? Choose the correct answer. The number is the last document number The number is automatically assigned The number is entered by the user The number must be assigned in a sequence.
In external number assignment, the numbering must be numeric. TRUE FALSE.
A number range can only be assigned to a single document type. TRUE FALSE.
For general accounting posting, which one of the following standard posting keys is for debit? Choose the correct answer. 01 31 40 50.
You can only use posting keys for assets and materials if the corresponding SAP components are installed. TRUE FALSE.
It is possible for several company codes to use the same posting period variant. TRUE FALSE.
If you do not assign users to any special tolerance group, then the entries in the default tolerance group are valid for them. TRUE FALSE.
You can create as many tolerance groups as you need. TRUE FALSE.
Which of the following tolerance group must every company code always have? Choose the correct answer. Blank Special Defined Named.
You can only complete the document entry transaction once the account balance is zero. TRUE FALSE.
Displaying a document in the entry view and the general ledger view is possible with new General Ledger Accounting. TRUE FALSE.
You can assign different document splitting procedures to different client company codes. TRUE FALSE.
Parameter IDs allow users to set default values for fields such as Company code and Currency. TRUE FALSE.
The SAP ERP application provides basic default values for document entry. For example, the current date is proposed as the posting date. You are not allowed to change this proposed date. TRUE FALSE.
Identify the criteria that usually differentiate between document change rules. Choose 2 correct answers. Open items Account type Asset class Company code.
Which of the following fields can be changed in the document header? Choose 2 correct answers. Reference number Document header text Document date Currency exchange rate.
Based on document change rules, users may only be able to change certain fields in the documents that they have already posted. TRUE FALSE.
When you reverse a document, you must enter a reason for reversal. TRUE FALSE.
You can reverse documents that contains cleared items. TRUE FALSE.
You can reverse a document by using either normal reversal posting or negative posting. TRUE FALSE.
The reversal reason determines whether the reversal date may differ from the original posting date. TRUE FALSE.
You need to enter a percentage rate in the terms of payment to calculate _____________. Choose the correct answer. Cash discount Credit amount Debit amount Invoice discount.
The baseline date is the starting date the application uses to calculate the invoice due date. TRUE FALSE.
In which of the following segments of a customer or vendor master record can you enter the terms of payment? Choose 3 correct answers. Company code segment Client level segment Sales area segment Purchasing organization segment.
Day limits enable date-specific terms of payment under a single terms of payment key. TRUE FALSE.
The SAP ERP application only supports the net procedure for customers. TRUE FALSE.
How many cash discount periods can be entered in the terms of payment? Choose the correct answer. 5 3 2 8.
The tax code is used for the tax calculation procedure required to perform taxation functions on the SAP system. TRUE FALSE.
The taxes calculated by the system are usually posted via a separate line item to a special tax account. TRUE FALSE.
The SAP ERP application links the documents belonging to one cross-company code transaction with a common cross-company code transaction number. TRUE FALSE.
In the configuration of SAP ERP, you must assign clearing accounts to every possible combination of company codes. TRUE FALSE.
Real-time integration affects the costs that are posted across company codes in cross-company code cost accounting. TRUE FALSE.
The key date activation defines when (from which posting date of the CO document) CO-FI reconciliation is possible with real-time integration TRUE FALSE.
An example of an open item is an incomplete business transaction, such as an invoice that has not been paid. TRUE FALSe.
A clearing transaction always creates a clearing document. TRUE FALSE.
The Clear Account transaction can be performed manually or automatically using the clearing program. TRUE FALSE.
It is possible to archive documents that have open items. TRUE FALSE.
Cleared items contain which of the following pieces of information? Choose 2 correct answers. Clearing document number Due date Clearing date Archival information.
With the automatic clearing program, a user can clear open items for which of the following items? Choose 2 correct answers. General ledger Currency Special general ledger indicator Subledger accounts.
When you perform a manual payment process, the cash discount amount is overwritten. TRUE FALSE.
The assignment field can be a combination of up to six fields with a maximum of 10 characters. TRUE FALSE.
When you reset clearing, the SAP ERP application removes the clearing data from the line items. TRUE FALSE.
Identify the 3 types of tolerance in accounting. Employee tolerance group GL account tolerance group Customer / vendor tolerance group Special account tolerance group.
If the payment difference is too high to be immaterial, you must manually process it. TRUE FALSE.
You must assign a revenue or expense account to all reconciliation accounts and all general ledger accounts with an open item transactions in foreign currency. TRUE FALSE.
Which of the following is a prerequisite for migrating to the SAP Simple Finance add-on? Choose the correct answer. The ERP system must be on the HANA database New GL Accounting must be activated The year-end activities must be completed The SAP migration service must be used.
What are the business benefits of the SAP Simple Finance add-on? Choose 3 correct answers. Reduced system complexity Single source of truth on the line item level Automatic update of custom applications to HANA standards Overall reporting across Financial applications.
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