TFIN50_2(UNIT 8)

INFO
STADISTICS
RECORDS
Title of test:
TFIN50_2(UNIT 8)

Description:
RECEIVABLES & PAYABLES

Author:
AVATAR

Creation Date:
06/06/2010

Category:
Others
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Content:
Balance confirmations are generated, foreign currencies valuated and receivables regrouped in the same way as in accounts payable accounting. True False.
Determining the valuation differencce: proposal list valuation at balance sheet key date + reversal valuation at balance sheet key date with delta posting logic.
You carry out the foreign currency valuation before you create the financial statements. True False.
The valuation includes the following accounts and items: Foreign currency balance sheet accounts Open items posted in foreign currency None of the above.
The following options are available for creating value adjustments for receivables: Individual value adjustment (IVA) as a special G/L transaction E Flat-rate individual value adjustment Flat-rate value adjustment (FVA) All of the above None of the above.
Doubtful receivables are written off as an individual value adjustment (IVA) during year-end closing. True False.
After you have ascertained that the debt is irrecoverable or that the receivable has been paid, the individual value adjustment is reversed. True False.
If the debt is irrecoverable,the receivable is cleared from the customer account and the amount and the amount is posted to the account for depreciation of receivables. True False.
You assign the valuation adjustment key to the master record of any customer account that you want to include in the flate rate individual value adjustment posting. True False.
Periodically, you carry out a valuation run to calculate the bad debt expense posting for overdue items. True False.
The valuation run produces a valuation proposal that you can manually change,if desired. True False.
The system makes the adjustment posting for the relevant key date and thereversal posting for the day after the key date. True False.
To provides outsiders with a better overview of the company's liquidity situation, the receivables and payables must be grouped in the balance sheet according to remaining life. True False.
Payables and receivables have to be listed separately in the balance sheet. True False.
Receivables and payables are displayed separtely according to no of days. True False.
You cannot change the reconciliation account in the customer/vendor master record during a fiscal year. True False.
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