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ERASED TEST, YOU MAY BE INTERESTED ONTFIN50_2 Part 2 of 2: Financial Accounting 1

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Title of test:
TFIN50_2 Part 2 of 2: Financial Accounting 1

Description:
TFIN50_2 Part 2 of 2: Financial Accounting 1

Author:
AVATAR

Creation Date:
23/08/2018

Category:
Others

Number of questions: 80
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Content:
Bank master records are created at the client level and can be assigned in all customer and vendor master files. TRUE FALSE.
If a customer is also a vendor, the payment program can clear open items between the customer and vendor accounts. TRUE FALSE.
Alternate payer or payee information entered at the client level of the master data takes priority over data entered at the company code level. TRUE FALSE.
Which of the following steps are part of the process of configuring the payment program? Choose 3 correct answers. Configure the paying company codes Configure the payment methods per company code Configure the house banks Configure the GL account field status for document entry.
All of the company codes in the payment run parameters must be in the same country. TRUE FALSE.
Which of the following are possible reasons that an invoice would not be paid? Choose 3 correct answers. The invoice has a debit balance An invalid house bank is selected The discount period has expired The payment amount is less than the minimum amount specified for a payment.
You can review the exception list before executing the payment proposal. TRUE FALSE.
After you complete the dunning run, you can print out the dunning notices immediately. TRUE FALSE.
There are 4 dunning program steps that can be performed during the automatic dunning procedure. Choose the correct sequence. Maintain the parameters > Schedule the dunning run > Change the dunning proposal > Start the dunning printout Maintain the parameters > Schedule the dunning run > Start the dunning printout > Change the dunning proposal Change the dunning proposal > Maintain the parameters > Schedule the dunning run > Start the dunning printout Schedule the dunning run > Change the dunning proposal > Maintain the parameters > Start the dunning printout.
Customers who do not have a dunning procedure in the master record are dunned using a default dunning procedure. TRUE FALSE.
It is possible to dun vendors as well as customers. TRUE FALSE.
Which of the following objects are relevant to the dunning program configuration? Choose 3 correct answers. Dunning levels Expenses or charges Minimum amounts Bank selection.
You can define dunning charges for each currency. Dunning charges depend on the dunning level. TRUE FALSE.
Using parameters, you can specify which documents and accounts the system considers in a dunning run for company codes. TRUE FALSE.
The run date is always the date when you are supposed to start a dunning run. TRUE FALSE.
Every outgoing invoice the system duns is overdue, but the system does not dun all the overdue outgoing invoices. TRUE FALSE.
What is the maximum dunning level that can be assigned to a dunning procedure? 1 7 9 11.
You can prevent certain items from exceeding a certain dunning level by assigning dunning keys to them. TRUE FALSE.
The payment terms of a credit memo usually do not apply and the due date is either the due date of the associated invoice or the baseline date of the document. TRUE FALSE.
Every dunning procedure must have at least 4 dunning levels. TRUE FALSE.
The system only duns and account if overdue items have exceeded the minimum days in arrears. TRUE FALSE.
The dunning run updates the dunning data in the dunned items and accounts. TRUE FALSE.
The system only sends a dunning notice if the dunning data changed since the last dunning run, or if "Always dun?" is selected. TRUE FALSE.
Which of the following lists support the dunning clerk's works? Choose 3 correct answers. The dunning history list The blocked accounts list The dunning list The list of vendor balances in local currency.
After you create the dunning proposal, the system ignores changes to the dunning data in the items or master records in the current dunning run. TRUE FALSE.
You can edit, delete and re-create the dunning proposal as often as you need to. TRUE FALSE.
Payment notices are a type of correspondence with the customer. TRUE FALSE.
Correspondence can be created online when you manually process payments or from the line item display. TRUE FALSE.
A document has several line items, with different reason codes entered. For the automatic payment, which correspondence type does the system choose? Choose the correct answer. The one assigned to the tolerance group The one in the first line item The one in the line item with the largest amount The system prompts for the user to assign one.
A company that decides to use the account approach will use only one GL account to report the differences. TRUE FALSE.
If more than one P&L statement type exists, the P&L statement type can only be maintained in the GL account master record. TRUE FALSE.
Provisions are relevant for parallel accounting because, in different accounting principles, the amount of the provision can be different. TRUE FALSE.
While setting up the accounts approach for provisions, the field status group changes the consolidation transaction type for the provisions balance sheet account to ____________. Choose the correct answer. an optional entry a required entry a suppressed entry a display entry.
When using Financial Accounting (FI) with one accounting principle, all FI documents are posted in one GL. TRUE FALSE.
To set up the ledger approach, you need to define a non-leading ledger and assign the non-leading ledger to company codes. TRUE FALSE.
When you create a ledger, you also need to create a ledger group in the SAP system manually. TRUE FALSE.
Which of the following are the month-end closing activities for external purposes? Choose 3 correct answers. Perform foreign currency valuations Create external and internal reports Post good issues for deliveries to customers Close the old period.
The managerial closing activities include locking the old accounting period. TRUE FALSE.
The SAP ERP application provides a standard report (RFBILA00) for creating financial statements. TRUE FALSE.
Customers using classic General Ledger Accounting can use RFBILA00 to create a financial statement at which organization levels? Choose 2 correct answers. Client level Business area level Company area level Segment level.
Financial statement versions consist of a maximum of 10 hierarchy levels. TRUE FALSE.
You can produce different outputs from a standard report (RFBILA00) program by specifying different financial statement versions. TRUE FALSE.
The sample financial statement versions delivered with the standard system can be modified to create your own versions. TRUE FALSE.
You can write up to 6 lines of text at the beginning and at the end of a financial statement version item. TRUE FALSE.
A drilldown list always shows all the key figure and characteristics combinations for a single combination of drilldown characteristics values. TRUE FALSE.
Which of the following are the characteristics included in general ledger drilldown reports? Choose 3 correct answers. Total debit balance Company code Business area Segment.
Characteristics and key figures form the basis of the drilldown report presentation. TRUE FALSE.
During balance confirmation, an output check and an error list are generated for each client. TRUE FALSE.
You must specify at least 2 addresses to which balance confirmations are to be sent. TRUE FALSE.
Which of the following procedures are available to check the balance of receivables and payables in balance confirmations? Choose 3 correct answers. Balance confirmation Balance notification Balance adjustment Balance request.
You carry out foreign currency valuation after creating financial statements. TRUE FALSE.
In a valuation method, which of the following is not a valuation approach for foreign currency valuation? Lowest value principle Strict lowest value principle Revalue only High rate of interest principle.
The valuation method contains the valuation approach to be used for carrying out a foreign currency valuation. TRUE FALSE.
With enhancement package 6 for SAP ERP, you do not have to assign an accounting principle to an FI valuation area to post foreign currency valuations to different ledgers (General Ledger Accounting (new)). TRUE FALSE.
How many intervals are defined for the foreign currency valuation run ID per client? Choose the correct answer. 0 1 2 3.
The system posts the realized exchange differences in foreign currency during open item clearing. TRUE FALSE.
After you have executed an update run of FAGL_FCV in a client, the new program is used automatically in the future, no matter how you start the valuation. TRUE FALSE.
Which currency valuation program is replaced by FAGL_FCV? SAPF130K FAGL_FC_VALUATION SAPF100 FAGL_VALUATION.
Doubtful receivables are individual value adjustments during year-end closing. TRUE FALSE.
You are no longer able to perform automatic flat-rate individual value adjustments for overdue receivables with enhancement package 6 TRUE FALSE.
Before creating financial statements, you have to group your receivables and payables according to their remaining life so that they are correctly displayed in the financial statements. TRUE FALSE.
When regrouping payables, if General Ledger Accounting (new) is active, you can use the old or the new FAGL_CL_REGROUP program. TRUE FALSE.
Which 2 reports should you use to create correspondence to and from customers and vendors to enable you to verify the balance of receivables and payables? Choose 2 correct answers. SAPF130K SAPF130L SAPF130D SAPF130E.
You cannot change the reconciliation account in the customer or vendor master record during a fiscal year. TRUE FALSE.
Which program is used to enter accruals and deferrals regularly? Compact document journal Devising program Recurring entry program Ledger grouping.
When you enter a manual (transaction FBS1) accrual or deferral document, you have to enter a reversal reason, the reversal date and the username. TRUE FALSE.
In deferral documents, expenses and revenues are posted in the current period but belong at least partially in a future period. TRUE FALSE.
Identify the steps performed during the general ledger closing operations for the fiscal year. Choose 3 correct answers. Foreign currency documents are valuated Accruals are carried out The balance carry forward program is run Vendor invoices are posted.
The balance of the profit and loss (P&L) accounts is posted to the P&L carry-forward account. TRUE FALSE.
Period interval 3 can only be maintained for account type S. TRUE FALSE.
The system uses the posting date you specify during document entry to determine to which posting period the document is posted. TRUE FALSE.
As part of the general ledger month-end closing, a consistency check of debit and credit transaction figures for customer accounts, vendor accounts, and general ledger (GL) accounts (table FAGLFLEXT) with the debit and credit totals of the posted documents (table BSEG) is performed. TRUE FALSE.
To reduce the load on the system, what should you do with the older documents that exist in the database? Delete Extract and delete Backup and delete Archive and delete.
After older documents have been archived and deleted from the database, you can still use the balance audit trail to explain an account balance. TRUE FALSE.
Parallel financial reporting means that you must create financial statements for a company in accordance with different accounting rules. TRUE FALSE.
You can only use the leading ledger to model different accounting rules. TRUE FALSE.
The Financial Closing Cockpit allows all stakeholders associated with the financial close to access or initiate their tasks in the system. TRUE FALSE.
Which of the following types or tasks are available in the Financial Closing Cockpit application? Choose 3 correct answers. Online transactions Task list template Flow definition Remote tasks.
Which of the following has to be created and assigned to an organizational structure before the Financial Closing Cockpit can be used? Choose the correct answer. Flow definitions Programs Subfolders Task list template.
Which of the following can you use for multiple programs with variants that are to be processed automatically? Choose the correct answers. Online transactions Flow definition Remote tasks Task list template.
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