Professional Documents
Culture Documents
FI PAPER: 10
1. Every company code can have the following combination of Chart of Accounts
(COA)
(Y) (N) One operating COA and one group COA and one alternate COA
(Y) (N) One operating COA and no group COA and one alternate COA
(Y) (N) One operating COA and one group COA and no alternate COA
(Y) (N) One operating COA and one alternate COA
(Y) (N) One operating COA and one group COA
(Y) (N) One operating COA and many group COA
(Y) (N) One operating COA and no group COA and no alternate COA
2. Each G/L Account in Group COA can be mapped to the following no. of account
code
in Operating COA
(Y) (N) Is mapped to Operating Chart of Account
(Y) (N) It is not mapped to Operating G/L Account Number
(Y) (N) Only one Operating G/L Account Number
(Y) (N) The relationship is many To one
3. Various Account Groups in one COA cannot consist of common G/L Account Codes.
(Y) (N)
4. Following fields form a part of COA segment of a general ledger account master
(Y) (N) Currency of the G/L Account
(Y) (N) Account Group of the Sub Ledger
(Y) (N) Field Status Group of the G/L Account
(Y) (N) Option to state whether it is a B/S or P&L Account Type
(Y) (N) G/L Account Name & Description
(Y) (N) Group Chart of Account
(Y) (N) House Bank of the G/L account
5. Each Account Code in a COA is automatically available for use to all company
codes
using that COA
(Y) (N)
6. Which of the following statements are true with respect G/L Number Ranges
(Y) (N) G/L Number Ranges are defined at Client Level
(Y) (N) Number Ranges of G/L Account Groups can overlap
(Y) (N) To G/L accounts can have the same number as long as they belong to
different Account Groups
8. Which of the following statements are true with respect to Account groups
(Y) (N) G/L & AR/AP Account groups are defined at Client level
(Y) (N) G/L & AR/AP Account groups are defined at company code level
(Y) (N) G/L Account groups are defined at the Chart of Account level
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
9. Which of the following statements are false with respect to reconciliation account
(Y) (N) One Customer account can have many normal reconciliation accounts
(Y) (N) Reconciliation A/C can be used for direct accounting entries
(Y) (N) Reconciliation A/C are G/L Accounts
10. Which of the following statements are true with respect to account groups
(Y) (N) The Account Group is a required entry in the G/L COA Segment
(Y) (N) The Account Group is a required entry in the AR General Segment
(Y) (N) All the Account Groups of customers can have one common number
range
11. Which of the following statement is true with respect to customer account
(Y) (N) One customer can have different customer codes in various company
codes
(Y) (N) Company codes following the same chart of accounts must have the
same
reconciliation account for the same customer
(Y) (N) Various company codes can have different payment terms with one
customer
(Y) (N) Group Account Number is mandatory while entering a customer master
16. The relationship between House Banks and Account ID is the following
(Y) (N) One to One
(Y) (N) One to Many
(Y) (N) Many to Many
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
19. A different field status can be achieved for different actions such as creation of
account or change in master records.
(Y) (N)
20. Chart of Accounts is the list of G/L Account. A G/L account is ready for input if COA
is assigned to company code
(Y) (N)
21. The field “Field Status Variant” in the company code segment of the G/L Master
can be suppressed
(Y) (N)
22. Which of the following entities can be assigned numbers both internally &
externally
(Y) (N) G/L Account
(Y) (N) Vendor
(Y) (N) Customer
(Y) (N) Document Type
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
(Y) (N) A House Bank can contain many account Ids which are represented
through Individual bank account numbers
26. Filed status of the line item can be controlled through Posting Key & Filed Status
Group in G/L Account. Thus the Filed Status of “Amount” “Posting key” and “Account”
can be suppressed
(Y) (N)
28. You cannot make a financial entry if filed status variant is not assigned to
company code
(Y) (N)
33. If we are using the same chart of account in more than one company code
(Y) (N) The company code segments are same in all company codes
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
(Y) (N) The account name and account number is the same in all company
codes
(Y) (N) The currency in the company code segment in all company codes is
the same
(Y) (N) The group account number & the alternate Account Number can be
different in all company codes
34. The appearance of the company code segment of G/L account is based on
(Y) (N) The Account Group of Customer if it’s a reconciliation account
(Y) (N) The Posting Key
(Y) (N) Account group entered in the chart of account segment
(Y) (N) Group account number entered in the chart of account segment
(Y) (N) The Field Status Group in the G/L Master Record
38. Which of the following are true if we are using the same posting period variant for
several companies codes
(Y) (N) The same fiscal year variant has to be used to use same posting period
variant
(Y) (N) While Opening & Closing of periods of all company codes can be done
together his can also be done separately for each company codes as
long as
the definition and number of posting periods is same.
40. By mentioning the baseline date, cash discount periods and cash discount
percentage
rate in the payment terms system will
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
(Y) (N) Post the due date of invoice while posting the invoice
(Y) (N) Calculate the due date of the invoice and cash discount
(Y) (N) Calculate Cash discount in the payment term
41. When using the account clearing function the system chooses and matches those
existing items from the account that balances to 0. The system marks them as
cleared
and creates a clearing document.
(Y) (N)
43. The specifications of permitted payment differences can be found in both types of
tolerance
groups. They control the automatic posting of cash discount adjustments and
unauthorized deductions
(Y) (N)
44. In Document header the reference field and the document header text are
modifiable.
(Y) (N)
45. All Reconciliation accounts and all general ledger accounts with open item
transactions
in foreign currency must be assigned to the revenue/expense accounts for realized
losses and gains(Y) (N)
46. Terms of payment are defaulted from master records when you post a document.
Terms
of Payment cannot be assigned at the time of posting the document or Entered
manually
if they are not assigned to the master record
(Y) (N)
48. Maximum Number of sessions a users can open when he logs on to SAP
(Y) (N) One
(Y) (N) Two
(Y) (N) Six
(Y) (N) Ten
(Y) (N) “N”
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
56. No Terms of payment are proposed when you post a credit memo, you can default
them
from original invoice by entering the document number in the invoice reference field
else
enter “V” in the invoice reference field so that terms of payment entered in credit
memo are valid.
(Y) (N)
57. Payments can be blocked in during posting, in the customer/vendor master record
or in terms of payment.
(Y) (N)
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
58. A block key and payment method from payment term is defaulted in the line item
when payment term is used.
(Y) (N)
66. When the automatic clearing program is executed the base documents are
(Y) (N) Parked & Cleared in the system
(Y) (N) Posted and Cleared in the system
(Y) (N) Posted and Archived in the system
(Y) (N) Cleared in the system
(Y) (N) None of the above
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
67. You can enter terms of payment in the company code segment or sales
area/purchasing
organization segment. The payment term defaulted depend on where the invoice is
posted.
The system does not check if the two are the same.
(Y) (N)
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
79. What is the maximum possible digit length of an internally generated customer
number
(Y) (N) 6
(Y) (N) 10
(Y) (N) 18
(Y) (N) 24
80. Which field on the customer master record controls whether we will accept an
incoming
payment for less than the amount invoiced
(Y) (N) Sort Key
(Y) (N) Tolerance Group
(Y) (N) Payment Term
(Y) (N) Payment Method
(Y) (N) Bank Key
81. What are the organizational entities for which the P&L and B/s can be generated
(Y) (N) Company Code & Business Area
(Y) (N) Company Code & Profit Center
(Y) (N) Company Code & Cost Center
(Y) (N) Profit Center & Business Area
(Y) (N) All the above
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
83. Which of the following fields can be changed in the document change mode
(Y) (N) Allocation
(Y) (N) Posting Date
(Y) (N) Document Date
(Y) (N) G/L Account Number
86. What is the maximum number of line items allowed in an accounting document
(Y) (N) 2
(Y) (N) 6
(Y) (N) 10
(Y) (N) 999
89. The fields available for posting in a transaction are controlled through the field
status group at
(Y) (N) Posting key level only
(Y) (N) Posting key and G/L account level
(Y) (N) G/L account level only
(Y) (N) None of the above
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
97. What dictates whether a document line item requires a tax code
(Y) (N) Tax code in the vendor/customer master record
(Y) (N) Tax category in the G/L master
(Y) (N) Optional entry in every transaction
(Y) (N) None of the above
98. What sort key is used to sort line items by document currency amount
(Y) (N) 001
(Y) (N) 003
(Y) (N) 005
(Y) (N) 006
99. What is meant by the option open item management in the G/L account mater
record
(Y) (N) The items on the account are always open
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
100. What is meant by the option line item display in a G/L account master record
(Y) (N) Only the line items can be displayed
(Y) (N) Only balances can be displayed
(Y) (N) Line items and balances can be displayed
(Y) (N) Line items of reconciliation account are displayed
(Y) (N) None of the above
103. It is must to create company code before any transaction processing in SAP
(Y) (N) True
(Y) (N) False
(Y) (N) Can’t Say
104. Company codes & Business Area are legal entity for which you create B/s
(Y) (N) True
(Y) (N) False
(Y) (N) Can’t Say
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
108. Association between numbers from Group chart of account and country chart of
account can be established in
(Y) (N) Company code global parameters
(Y) (N) Master data of ledger a/c in operating chart of account
(Y) (N) Group company details
(Y) (N) Country details
113. Document type allows more than one account types while processing the
particular document type
(Y) (N)
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
117. Only one company code can be attached to posting period variant
(Y) (N) True
(Y) (N) False
(Y) (N) Can’t Say
122.Baseline date is
(Y) (N) A date on which payment becomes due
(Y) (N) From which due date is calculated depending on the setting in
payment terms
(Y) (N) A base date after which document lapses
(Y) (N) None of the above
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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING
FI PAPER: 10
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