P. 1
FI Accounting Questions

FI Accounting Questions

|Views: 12|Likes:
Published by Shajeel Khan

More info:

Published by: Shajeel Khan on Sep 06, 2012
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

11/07/2012

pdf

text

original

ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 mySAP Business Suite overview 1.

What are the essentials of SAP’s product strategy ( in just a few words) 2. MySAP business suite contains the following: (Choose the right answers) a. cross industry solutions b. industry solutions c. technology d. services 3. SAP a. b. c. d. business object consists of attributes methods attributes and methods none of the above

4. what is long form of BAPI 5. BAPI is assigned to one and only one business object a. true b. false 6. what are the new dimension products of SAP in cooperative business scenario 7. what are two major elements of mySAP.com Navigation 1. You can only work in one window (session) at a time in an SAP system a. true b. false 2. which of the following statements accurately describe a client in an SAP system a. a client represents a completely independent business entity b. a client has its own database c. a client corresponds to a customer d. a client may represent an entire company 3. the following strings are valid entries in the command field: Choose the correct answers. a. /nend b. /nex c. ?SM04 d. /nsm04 e. from SAP easy access: SM04 f. from SAP easy access: search_sap_menu 4. you a. b. c. d. e. can use the F1 key to display an explanation of a field’s uses display a list of possible input values change your user data (e.g., the logon language) end the session you are in display detailed

1

ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 5. you a. b. c. d. e. can use the F4 key to start another session display detailed technical information on a program call the SAP library display possible entries for an input field create a print request of the screen currently displayed

6. you can also call the context sensitive SAP library using the F1 key a. true b. false 7. the a. b. c. d. e. f. following personalization options are available in the SAP-GUI you can change the font size (within limits) you can have system messages displayed in a dialog box you can change the size of input fields you can suppress the display of pictures every user can display a picture of their choice on the SAP easy access screen you can use a personal input history on your front end

8. what is the maximum no. of parallel sessions that you can open 9. what is the name of the function you reach if you choose: tools  admn  monitor  system monitoring  user overview? What transaction code could you use to call this transaction instead of the menu 10. R/3 system contains a. database server only b. application server only c. presentation server only d. all of the above 11. all a. b. c. data and programs are contained in application server database server none of the above

12. maximum no. of sessions a user can open when he logs on to SAP a. one b. three c. five d. six 13. what are the three servers of R/3 system 14. to delete the current session, what command is used 15. where you can find transaction code for the function you are working in 16. which key is used for help on fields, menus, function, messages

Overview of financial accounting 1. One chart of accounts

2

ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 a. b. c. d. can be assigned to several company codes can be defined as a group chart of accounts only contains definitions of G/L accounts can only be assigned to one company code

2. which statements are correct: a. the field status tool bar controls the document type, the posting key and the account no. b. you can control the issue of document nos., via the account type c. the tax rate and tax indicator are pre-set by SAP for each country d. you can use the field status tool bar to control the characteristics of the document fields 3. the a. b. c. d. length of G/L account no. should be mentioned in G/L account groups G/L account Chart of accounts None of the above

4. Which of these statements on document principle are correct a. R/3 can assign the document nos. always b. A business event can trigger only one document within R/3 c. Each business event creates an account document in R/3 d. R/3 will link related documents in the system 5. All FI entries will be repeated in CO module also a. true b. false Basic settings 1. You can assign a business area to a company code directly a. true b. false 2. which of the predefined fiscal year variants are a. calendar year b. year specific 3. for what purposes are year specific fiscal year variants used 4. name the tools for maintaining the exchange rates 5. what keys are used to define currencies 6. name three commonly used exchange rate types and what they are used for 7. fiscal year can be a. year dependent b. year independent c. both year dependent and year independent 8. fiscal year which is a calendar year can have a. 12 normal periods b. less than 12 normal periods c. more than 12 normal periods

3

false 16. should have less than 12 periods 10. business areas are used for reporting across company codes d. how many characters does a company code have 17. any no. true b. less than 12 periods d. company can use both indirect and direct exchange rates 12.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 9. more than 12 periods c.what are the two segments of a chart of accounts 20. company can use direct exchange rate only c. of local currencies d. false 18. one chart of accounts cannot be assigned to more than one company code a. false 23. at what level is vendor account defined 22. more than one plant can be attached to a single company code a. two local currencies c. true b. business areas are company dependent a. none of the above 11. which chart of accounts is used for consolidation 21. business areas are assigned to company codes c. purchasing is done by what organization and for whom 4 . true b. company code can have a. annual displacement indicator is used a. shortened fiscal year can have a. false 19. true b. what is the highest level element of organizational units 14. company can use indirect exchange rate only b. which of the following is true a. none of the above 13. 12 periods b. which of the following is true in relation to SAP features a. in case of non calendar fiscal year. business areas are company code specific b. what is the business unit where cost accounting is carried out in SAP 15. one local currency only b.

document no. true b. what does a tax code contain 42. false 37. what is the central organizational structure in profitability analysis 26. true b. false 39. false 31. range can be both internal and external a. false 35. true b. true b. more than one plant can be attached to a single company code a.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 24. false 40. true b. true b. false 33. you can close a financial year even if you have parked documents a. what is the element other than document header in an FI document 32. reconciliation account type for vendor is K and for customer it is D 5 . group chart of accounts is used for consolidation a. true b. in which case same document number will be taken for a new financial year 34. what is a base amount 41. false 27. what are the three steps for standard procedure for procurement transactions in FI 25. more than one cash journal can have the same cash account a. what is the main criteria for defining asset 29. what areas are used to keep more than one valuation basis for depreciation 30. what document is created when receivables and revenues are posted in SD module 28. one company code may contain several sales organizations a. G/L account/posting keys contain further specifications for account assignment in tax calculation procedure a. false 38. true b. several company codes can use the same posting period variant a. at what level a vendor account is defined 36.

to which are company codes and business areas attached Master records 1. the customer/vendor accounts must always be maintained centrally a) true b) false 15. Reconciliation accounts are updated on a daily basis. if an account is managed with open items. A G/L account consists of which segments 2. G/L accounts that are managed in foreign currency can only be posted to in this foreign currency a) true b) false 11. a complete customer account consists of the following parts: _____________ 13. you cannot carry out cross company code controlling a) true b) false 12. one number range can only be assigned to one account group a) true b) false 16.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 a. true b. false 43. then line item display must be activated a. assignment means that the R/# system assigns the number automatically 17. You can always display the line items of a G/L account a) true b) false 8. _______ no. a) true b) false 7. in consolidation. Name possible field status definitions in the order of their priority 3. false 44. because company codes use different operational chart of accounts. true b. Different company codes can use the same____________ 4. G/L accounts with open item management must have line item display activated a) true b) false 9. __________ contain the total of the transaction figures for the corresponding sub ledger groups 6. a complete vendor account consists of the following parts: __________________ 14. You maintain a customer/vendor master records ____________ if you create the FI segments at the same time as the SD/MM segments 6 . G/L accounts that are managed in local currency can only be posted to in this currency a) true b) false 10. The ________ controls the field display for the company code data in the G/L account master record 5.

account number b. account group entered in the chart of account segment b. a G/L account consists of a chart of accounts and one or more company code segments b. the G/L account name of the house bank can contain the name of the bank and the account no. if we are using same chart of account in more than one company code a. code data of a customer/vendor master record consists of _____ areas. sensitive dual control 7 . account name and account number is the same in all company codes c. create both company code segment and chart of segment c. G/L accounts have ________ no. company code segments are same in all company codes b. add company code segment to chart of accounts segment b. creation of duplicate accounts in AP is prevented by using a. assignment. the group account number is different in all company codes 24. assignment of group chart of accounts in chart of accounts d.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 18. create chart of account d. none of the above 26. the co. field status c. group account number entered in chart of accounts segment c. currency in company code segment in all company codes are same d. the account currency is stored in the chart of accounts segment 21. the appearance of an account master data is based on a. the G/L account names of the house bank can be defined to company code that differ from the chart of account 22. you can directly post to the reconciliation accounts e. True / false a. copy chart of account segment from other company code 23. the G/L account becomes complete if we a. none of the above 25. the accounts group controls the screen layout of the chart of accounts segment c. assignment 19. the appearance of the company code segment of a G/L account is based on a. chart of accounts d. the name for the G/L account at the house bank is freely definable c. which statements regarding the bank master records are correct a. the G/L account name of the house bank is defined in chart of accounts e. viz: ______ (tab pages) 20. match code before creating the new account b. d. the G/L account name of the house banks has to concur to the name in the bank key directory b. all G/L accounts must carry a tax indicator d. customer / vendor master records can have ________ or ________ no.

We cannot control the postings in the G/L by way of tax code entry for a G/L account a) true b) false 34. which of the following is true a. account group controls the document field status b. Currency is a required field entry while creating G/L master a) true b) false 33. G/L account names for house banks can be different from those in chart of accounts 31. Tax codes are created and operated at country level a) true b) false 35. the G/L account names for house bank could be the bank name and account no. specific to client c. retained earnings account is a. d. chart of accounts view of G/L account keeps the data like general data a) true b) false 8 .ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 c. the G/L account name for house banks are user definable c. Tax codes are time dependent a) true b) false 37. G/L master created is always for all company codes in R/3 a) true b) false 32. company code can have more than one retained earnings account c. account group cannot be created with external number range a) true b) false 39. specific to company code b. chart of accounts can have more than one retained earnings account d. Reconciliation account definitions are available in general data and vendor master a) true b) false 40. none of the above 28. at company code level. the G/L account names for house banks are defined in the bank directory e. account group controls the number range c. chart of accounts can have on retained earnings only e. which of the following statements are correct a. none of the above 27. which of the following is true a. account group controls the master record field status d. none of the above 29. Jurisdiction codes are not used at all while creating tax codes a) true b) false 38. In AP & AR. specific to chart of accounts d. switching on automatic duplication check d. Tax codes are created at company code level a) true b) level 36. company code can have one retained earnings account only b. all of the above 30. the G/L account name for house banks must match the names given to the house bank in the bank directory b.

all accounts b. all accounts managed on open item basis c. single retained earnings accounts automatically c. multiple retained earnings accounts through period end closing d. a) true b) false 43. account currency is same as local currency of company code c.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 41. opposite dr/cr indicator and same entry 49. default exchange rate picked up during FI document entry is a. account currency is not maintained b. fiscal year variant can be of two types. account currency is different from company code currency d. you can carry forward P&L account balances to a. account groups are used to control following properties a. opposite dr/cr indicator and same entry in fields that are configured for auto clearing b. all accounts managed on open item basis and all accounts with currency different from local currency 9 . in case of G/L accounts. amount. amount. you can post transactions to an account in any currency only if a. exchange rate maintained for type B b. field status of master fields c. multiple retained earnings accounts automatically b. exchange rate maintained for type M c. there is no default exchange rate type 48. classifying G/L accounts as per B/S format 46. single retained earnings account through period end closing 47. opposite dr/cr indicator c. amount. foreign currency valuations on G/L accounts are performed on following accounts a. classifying transactions pertaining to cash flow d. Name them 42. generating G/L planning b. exchange rate maintained for type G d. planning levels in G/L accounts are used for a. field status of transaction field b. business area. number ranges are attached to G/L accounts. business area. planning memo entries in treasury c. field status of master fields. field status of master fields and number range d. number range and whether accounts are P&L / B/S 44. you can clear open items only when they have same a. opposite dr/cr indicator d. under all circumstances 45.

company code d. G/L line items c. financial statements can be generated in a. accounts managed on open item basis having foreign currency transactions and all accounts with account currency different from local currency 50. C/V. external c. internal/external d. chart of account currency d. special G/L applicability 55. 2 local currencies. dr/cr indicator. account groups b. account types. company code 56. account assignment models c. field status of transaction screen. sample documents b. G/L line items d. field status of transaction screen. worklists d. 3 local currencies. special G/L applicability d. coa b. how many parallel currencies are possible and at what level they are assigned a. when you reverse a posted document. field status of transaction screen. recurring documents 54. you run BA/PC adjustments for a. Invoice receipt against GR 53.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 d. posting adjustment entries for changed reconciliation accounts d. 2 local currencies. dr/cr indicator. any currency for which customization is done 10 . balancing company code level B/S for inter company transactions c. dr/cr indicator. 3 local currencies. easily entered document entry templates are called a. manually assigned 57. work lists d. sort key c. account types b. local currency b. internal b. dr/cr indicatgor. posting vendor/customer reclassification at BA level 52. balancing BA level B/S for inter BA transactions b. customer/vendor line items b. document currency c. you can display account balance of several related accounts through a. fast entry screens in FI are used to enter a. account types c. Posting keys are used to decide a. coa c. totals variant 51. document number must be a.

if the user assigns the document number manually.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 Document control 1. ________nos. posting periods are opened and closed automatically a) true b) false 20. may be alphanumeric 4. text is required as per field status group. state how the text field will be treated on document entry screen a) if text is hidden per posting key. what are the standard posting keys for G/L account postings and on which side of the account do they post to 13. then it will be an ______ in document entry screen 12. document no. text optional as per field status group. the posting period variant is assigned to the ____________. name two elements that influence the field status of document fields 11. each ______ has a field status group 16. assignment 3. what are the most important control functions of a posting key 10. a posting period variant must contain at least one line with the entry _____________ 18. this is _______no. ranges must not overlap a) true b) false 8. the system always starts the document no. range a) true b) false 6.what are the most important control functions of the document type 2. the authorization group in the posting period variant applies only to authorization for posting in special periods a) true b) false 11 . then _____ will be in document entry screen b) if text is optional as per posting key. ranges can be assigned to a document type simultaneously 9. the _____ group controls the field display during document entry 15. from following. every company code may define its own document types a) true b) false 5. posting keys are defined at client level a) true b) false 14. assignment again at the start of the no. the account range in the posting period variant consists of ________ 19. no more than two periods can be open at the same time a) true b) false 21. text is hidden as per field status group. then it will be a ______ in document entry screen c) if text is required as per posting key. how many no. range a) true b) false 7. 17. every company code may define its own document no. at the beginning of a new fiscal year.

c. it is not possible to see document currency and company code currency at the same time during document display option a) true b) false 28. system will determine the posting period and fiscal year c. field status definition ‘suppressed’ and ‘required’ can not be combined d. we cannot use same posting period variant for several company codes c. and due date in the entry screen of customer/vendor invoice are same a) true b) false 29. the field status of header text and reference no. if you display the balances of an account. range. value date. one no. document no. which of the following statements are true a. the account types allowed for postings b. ________ and ________ are two elements of FI document 33. system date. will be taken for a new fiscal year 35. which of the following statements are true a. range can internal and _________ 34. we can open two period ranges during the time of closing process b. which of the following statements are true. the transaction figures for the posting periods are displayed 26. it is possible to define standard translation method of foreign currency in the posting key a) true b) false 30. document posting date. in case of _________ no.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 22. Customizing is available in account master and field status groups a) true b) false 27. based on the document date entry. we can maintain different special periods for each company code 25. when you are considering major controls of document types a. range can be assigned to several document types a) true b) false 36. posting keys are defined at client level b. base line date. we want document header text is required to be made mandatory. posting keys d. same document no. range can be assigned to several document types a) true b) false 32. system allows you to enter the date interval ‘from and to’ in case of foreign currency translation rate a) true b) false 31. when ever an FI entry is made. account types allow line item postings based on posting key c. one no. which of the following are true if we are using the same posting period variant for several company codes a. none of the above 23. opening and closing of periods to e done for each company code b. one document type can have more than one no. range a) true b) false 12 . field status groups are variant principle 24.

a field status within an FI document is controlled by three factors. What are the two prerequisites that should be fulfilled in order to process the negative postings 4. which cash discount accounts are used in the net procedure? 10. the company code of a cross company code transaction may have different local currencies 18. while posting a parked document. which cash discount accounts are used in the gross procedure? 11. name the two types of taxation that can be represented in the system 12. list two examples for cross company code transactions 14. tax amounts of across company code transaction are automatically distributed to the company codes in which the expenses or revenues occurred a) true b) false 16. a cross company code transaction consists of at least two documents a) true b) false 15. cross company code clearing accounts must be G/L accounts 17. is changed a) true b) false Posting control 1. 38. the __________ is the date that the system uses to determine the due date of the invoice 9.. what data is required for the automatic account determination for tax amounts? 13. 13 . document no. terms of payment is a field in the ______ and _______ of the customer master record 8. viz. The day limits define the dates of cash discount periods a) true b) false 6. Name two possible ways to reverse a document 3. Every installment of an installment plan must have its own terms of payment a) true b) false 7. Credit memos can be linked to invoices to ensure that invoice and credit memos are due on the same date a) true b) false 5.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 37. List some sources of values that are defaulted by the system for document entry 2. describe the components the system uses to create cross company code transaction no.

consolidation coa b. negative posting is one method of document reversal a) true b) false Clearing 1. posting key is linked to field status in FI posting a) true b) false 25. due date of invoice and cash discount b. all of the above 21. the posting keys to be used in the clearing document are defined in ‘clearing transactions’ a) true b) false 6. posting a payment for an open invoice with a resulting zero balance is an example of ______ 9. the automatic clearing program cannot carry out automatic postings a) true b) false 7. documents with open items cannot be archived because open items represent incomplete transactions a) true b) false 3. cash discount periods and cash discount percentage rate in payment terms system will calculate a. by mentioning base line date. account group of the G/L account b. field status group in the company code segment d. payment terms are company code dependent a) true b) false 23. it is not possible to calculate the due date on fixed dates like end of month with days calculation a) true b) false 24. posting in a G/L account is controlled by a.postings in a company code are done in G/L account of a. country coa d. a clearing document must have at least two line items a) true b) false 4. cash discount only d. operative coa c. none of the above 20. all of the above 22. a _______ residual item clears the invoice and the payment to create a new open item 10. clearing a credit memo with an open invoice is an example of __________ 8. field status group in the coa segment c.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 19. posting with clearing can be carried out for several accounts simultaneously a) true b) false 5. a ______ results in the open invoice and the incoming payment remaining in the customer account as open items 14 . name 2 basic transactions that you can use to clear open items 2. due date only c.

you can activate or deactivate open items reverse the open items activate or deactivate the cash discount enter partial payments or residual items 15. clearing does not create any document in SAP a) true b) false 19. The clearing document no. it is user defined where SAP will control open item selection a) true b) false Special G/L transactions 1. residual payment creates another entry keeping all entries open a) true b) false 5. State whether this statement is a) true b) false 16. and the clearing date is entered in the cleared open items. down payment creates another entry without any links to the original entry a) true b) false 4. SAP does not allow bill of exchange accounting a) true b) false 7. the specification for permitted payment differences can be found in both types of tolerance groups. d. The clearing date can be the current date or a date that the user determines. They control the automatic posting of cash discount adjustments and unauthorized deduction a) true b) false 17. processing open items (customer). payment request clears the entries in AP/AR a) true b) false Automatic payments 15 . list the no. using ‘account clearing’ function. G/L accounts must be defined for exchange rate losses or gains a) true b) false 13. b. it is not possible to create a due date for a down payment a) true b) false 6. payment cannot be made by adjusting a special G/L transaction which is posted in G/L a) true b) false 3.all special G/L transactions are posted to G/L accounts a) true b) false 2.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 11. the R/3 system generates the exchange rate differences automatically a) true b) false 12. The system marks them as cleared and creates a clearing document. all reconciliation accounts and all G/L accounts with open item transactions in foreign currency must be assigned to the revenue/expense accounts for realized losses and gains a) true b) false 18. in a. c. choose a match those existing open items from an account that balance to zero. of ways the G/L account can be determined for exchange rate differences 14.

sending company code and paying company code are same always b. items that cannot be paid are detailed in the exception list 12. the payment proposal can be edited. we can process special G/L transaction only 16 . the field ‘identification’ is used to run print program 15. there are four steps in payment process i. the payment program needs the __________ to determine whether an open item has to be paid now or in the next payment run 5. identification 14. the run date is recommended to be the actual date when the program is executed b. only line item payment block can be removed during payment proposal c.List the five steps in the payment program 2. which of the following are true a. the payment process. which of these statements on payment program are correct a. the _______ specify the accounts and documents that are to be included in the payment run 4. program. c. e. automatic option to the users are select open invoices to be paid or collected/post payment document post payment documents/print print media select open invoices to be paid/collected post payment document print print media 11. proposal. every run of the payment program is identified by two fields a. the sequence in which the payment methods are entered in the _________reflects their priority 6.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 1. the exception list is part of the payment proposal a) true b) false 10.e. a payment method can be used only if it is entered in the account master record a)true b)false 8. by specifying vendor/customer/special G/L transaction to be paid. d. which of the following statements are true (ref: print program-all codes area) a. parameters. b. once the parameters have been specified. all the company codes in the payment run parameters must be in the same country a) true b)false 7. any payment block can be removed in payment proposal edit b. run date b. the print program is scheduled to generate print media 13. deleted and recreated as often as necessary a)true b)false 9. Which of the following statements are true a. in a.. print b. name the six areas into which the payment program configuration is divided 3.

system will not process the payment b.the payment proposal can be edited. payment to vendor of a specific bill cannot be blocked in SAP a) true b) false 17 . partial payment creates another entry without any link to the original entry a)true b) false 24. it is not possible to show the check with a value range by a user a) true b) false 28. commission. deleted and recreated as often as desired a)true b)false 21. which of the statements is true a. system will not process the payment 17. through bank statement entry. it is not possible to use two check series for making payment a) true b) false 25. we can print and sort payments 16. if we are using check management. which of the following statements are true? (ref: payment program-bank determination area) a. bank statement entry into SAP does the auto clearing a) true b) false 31. SAP cannot automate the payment method entry into the vendor invoice screen a)true b)false 23. a payment method can only be used if it is entered in the account master record a) true b) false 20. payment to anybody by passing a G/L entry without AP/AR is a standard functionality of SAP a) true b) false 29. etc. bank/payment method combination is must to define ranking order c. by activating payment method supplement. exception list is a part of payment proposal a) true b) false 22. all company codes in payment run parameters must be in same country a) true b) false 19. define check lot in order to print checks b.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 c. check lots are used only for automatic payments 18. it is not possible to void unused checks a) true b) false 26. without maintaining the value date in bank selection. which will make a direct posting into G/L a) true b) false 32. we cannot create manual checks for payment to business partners and update in the system a) true b) false 30. without ranking order. we can make entries like bank debits for bank charges. reversal of void check is a standard functionality in SAP a) true b) false 27.

It is not possible to enter in SAP by keeping all the check details and updating against an invoice a) true b) false 34. then payment terms from _________ segment will be defaulted Automatic dunning 1. customer makes multiple check payments for one invoice and hands it over to the company which is running with all modules of SAP. the dunning run updates the dunning data in the dunned items and accounts a) true b)false 13. list some reasons why overdue items might not be dunned 8. one dunning form can be used for all dunning levels and dunning areas a) true b) false 18 . 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 a) true b) false 10. ____________ is the date from which the due date is derived 35. it is possible to dun vendors as well as customers a)true b)false 5. or if ‘always dun?’ is selected a) true b) false 14. if dunning areas are not used. changes to the dunning data in items or master records are ignored in the current dunning run a) true b) false 15. List the main steps involved in creating the dunning proposal 9. customers without dunning procedure in the master record are dunned with a default dunning procedure a)true b) false 3. if customer invoice is created in SD. a dunning notice is only sent if the dunning data has changed since the last dunning run. the dunning proposal consists of several steps. the ‘run date’ is always the date when a certain dunning run is supposed to be started a) true b) false 6. the parameters specify the accounts and documents that are to be considered in the dunning run a) true b) false 7.list the four steps that have to be taken by the dunning program to perform the automatic dunning procedure 2. the dunning proposal can be edited. and recreated as often as required a) true b)false 16.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 33. after the dunning proposal has been created. deleted. every dunning procedure must have at least four dunning levels a) true b) false 11. dunning is performed at the company code level a)true b)false 4. an account is only dunned if all the over due items have exceeded the minimum days in arrears a) true b) false 12.

when running the dunning program a. what information does a dunning run change a. we can edit proposal b.which is true a.the a. we can recreate the proposal until the dunning clerk is satisfied with result d. date of last dunning run in the customer master record b. we can assign two dunning procedures to customer master records c. the last dunning level is equal to the legal dunning procedure a) true b) false 19. c. maximum dunning level can be defined in the dunning procedure is four six nine 23. what is changed by the dunning run? a.it is possible to get the report of customers created by user in a company code a)true b)false Interest calculation 19 . we cannot specify per dunning level that interest is to be calculated b. interest can be posted at the time of dunning 22. the dunning level in the customer master record c. the dunning level in document for which dunning notices are created d. we cannot print a dunning notice in a legal dunning procedure. we cannot delete proposal c. the dunning level in the dunned document d. the dunning procedure in the customer master record for the next dunning run Correspondence 1. an item whose days in arrears are smaller or identical to the grace period. we can set a minimum amount for the dunning charges on each dunning level 25. dunning data is updated in master records 21. b. dunning procedure can process only standard transaction d. after completing the dunning proposal list.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 17. which of the following statements are false a. the form specification in the customer master record for the next dunning letter e. the dunning level in the customer master record c. although no further account movements have occurred c. from (layout set) specifications in the customer master record for the text in the next dunning letter e. the dunning procedure for the next dunning run in the customer master record 20. one time accounts cannot be dunned b. the date ‘last dunning run’ in the customer master record b. dunning program will consider the item for dunning a) true b) false 24. the dunning text for dunning level 6 is stored in text module 616 a) true b) false 18.

what is a lock box 7. you have to maintain customer bank details manually in the master record to ensure that as many incoming payments are assigned as possible The financial statements 1.name the three documents used in the payment process 2. list the four statuses that a check can have 9. you can configure R/3 to calculate interest for customers or vendors that owe you money. on a give account. You cannot calculate interest. enter it in the directory of financial statement version b. each interest id must be assigned to interest calculation type Country specifics 1. what methods can you use to create checks? Name two ways of creating a check. which of these statements is true a. a financial statement version consists of maximum nine hierarchy levels a) true b) false 3. if you owe your business partner money a) true b) false 4.Two steps to define financial statement versions are a. you can void a check and reverse the payment document at the same time a)true b)false 5. what information do you need to create a new interest calculation indicator 6.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 1.account master data must contain an interest calculation indicator for interest calculation to take place a)true b) false 2. however. you can void a check without reversing the payment document a) true b) false 4. R/3 cannot calculate different interest rates based on the amounts of balance or items a) true b) false 3. we can calculate interest on G/L accounts under interest on arrears method b. we cannot assign account group according to balance a) true b) false 4. Can you name the check printing program? 3. drill down report is a tool that enables to analyze sub ledger transaction figures only a) true b) false 20 . name the two types of interest calculation in SAP R/3 5. define hierarchy levels and assign accounts 2. you can void a check and reverse the payment document and the vendor invoice all at the same time a) true b) false 6. what are payment advice notes used for in the lock box process in R/3 8.

it is a real problem in SAP – in financial statement version – we are not able to find the G/L accounts which are not assigned a) true b) false 8. maximum limit is 9 a) true b) false 7.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 5. normal transactions c. to set up the financial statement version in your company. individual value adjustment for doubtful receivables are possible through a. both of the above 6. special G/L transactions b. MIS reports based on financial books like ratios can be done through financial statement version a) true b) false 21 .

account assignment model d. check management with respect to outgoing payments is possible for open items for a. plant-division combination b. sample document c. plant data 2. if you do not want to enter a document with provision for updating ledger on approval from authorized officials. reclassify by changed reconciliation accounts d. vendors b. parked document b. plant-sales area combination d. group key assigned to vendor master records control the following a. the main reconciliation account of vendor/customer b. noted items d. parked items c. business area data d. it is a combination of up to three fields on which open invoices are selected for manual payment 3. company code data. when you carry out regrouping through AR/AP. following activities are performed a. alternative reconciliation account and main reconciliation account of vendor/customer d. plant-division-distribution channel combination c. general data. customers and G/L accounts d. recurring document 6. plant-division combination and sales area 8. general data. all of the above 22 . business area is determined for accounting documents generated automatically from logistics module based on a. posting through a special ledger indicator affects a. reclassify open items by remaining life c. you can use following functionality a. purchasing data c. statistical items b. accounting for down payment request involves a. reclassify where debtors have credit balance and vice versa b. general data. general data. vendors and customers c. vendors. company code data. company code data b. offsetting entry to main reconciliation account of vendor/customer 4. vendors and G/L accounts 5.the view maintained for vendor master data are a.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 Receivables and Payables 1. alternative reconciliation account mapped to the main reconciliation of vendor/customer c. basis for classifying vendors for standard reporting d. regular items 7. company code data. business area data. it is a combination of up to three fields based on which open invoices are selected for automatic payment b. basis for grouping several vendors for balance display c.

use dunning block on vendor master c. b. in a. in a. customer. G/L. asset. when you carry out automatic payment. b. vendor. cannot be removed 11. vendor. dunning area 15. 12. c. house banks maintained for specific business area c. if you do not want to dun beyond a particular level a. customer. c.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 9. bank through which payment is effected is based on a. if you want to choose a different set of fields in a vendor account line item display. dunking key c. totals variant c. Payment block can be removed by a. vendor. customer. SAP. use dunning key to limit the maximum level b. G/L b. SAP entity used to distinguish and control the process is called a. material c. use dunning clerk to block dunning d. line layout d. you choose a different a. d. house banks entered in the parameters of the run d. what are the different account types in SAP a. ranking order and available balance in the accounts 10. by reallocating in payment proposal d. additional field 23 . dunning clerk d. changing field entry from invoice document c. dunning procedure b. a bill of exchange receivable item is cleared during discounting the bill transfer posting with clearing reversal of contingent liability clearing of outstanding advance from the customer which of the following processes do the original invoices remain as open items residual payment partial payment charge off difference distribute difference 13. release block in MM b. d. ranking order of house banks b. when several organizational units carry out dunning within a single company code. use dunning block on the dunning procedure 16. customer. asset 14. payment needs to be made against invoice with payment blocks created during invoice verification. vendor d. sort variant b.

system carries out adjustment postings a) true b) false 4. any one of the above 6. without update for reversal of the adjustmentposting after key date. only on balance sheet items (G/L accounts) c.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 Profit and loss 1.Foreign currency valuation is possible a. only on vendor/customer open items b. user can define another posting date in place of key date + 1 a) true b) false 3. physical inventory is an MM/PP module transaction and hence no accounting entry is passed in G/L but real stock is adjusted in MM/PP a) true b) false 24 . when we have regrouped the receivables/vendors. when we are valuating open items. depreciation posting can be executed a. direct FI postings c. through batch input session b. allocating costs to FI through external settlement – the G/L is updated on line / real time a) true b) false 5. both of the above 2.

B-selling rate 7.d 3. true 7. code is sm04 10. M-average rate for posting and clearing.f 8. base currency.f 4. APO.d.RI.c 12. calendar year: 01. G-buying rate.e 5. extend rather than replace 2. false 6. c 13. market place.b.c d c a.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 KEY mySAP Business Suite overview 1. KW 7.UL. BW. I) if start and end date of posting periods differ from year to year. 3. K1. SCM. a. work place Navigation 1. d 13. controlling area 15. /n 15. inversion. d 11. a. a. exchange rate spreads 5.d false Basic settings 1. 5. the function is called user list. database server 14. false 25 . false 2. d 6. B2B. year specific: AA.b 8. financial accounting a. ii) if one fiscal year has fewer posting periods than the other (shortened fiscal year) 4.b 9. business application programming interface 5. a. c 4.b. a.b 12. K3.d 3. 4. a. application server.e.d.c. 2. K4. client 14. a. CRM. system_menu 16.b.AM.b. between 2 and 6 sessions 9. false 2. currency keys 6.WK 3. a. F1 Overview of 1. presentation server. K2.b. a 11. c 10. a.

true 37. false 10. correspondence and insurance (customer account) or withholding tax (vendor account) 20. general data. internal 17. payment transactions.d 22. true 11. operating concern 26. coa segment. group 21. revenue 41. billing 28. required entry. false 8. true 40. reconciliation accounts 6.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 16. a 21. four character 17.code segment. invoice verification 25. true 35. purchasing. centrally 18. expense. false 18.code segment. b 26 . false 39. PO. true 19. company. true 12. b. purchasing organization segment 14. false 16. internal/external 19. hide. true 31. true 44. GR. consolidated business area Master records 1. a.D 43. true 9. general data. four (accounting information. asset class 29. external 33. a. account group 5. co. true 23. client 22. b. coa 20. co.b 23. company code segment 2. tax rate 42. K.c. display. depreciation 30. sales area segment 13. client 36. chart of accounts 4. false 7. true 27. false 15. external. company code. true 38. document line items 32. plant 24. optional entry 3. year dependent 34.

range can be used for several document types 9. required entry. true 6. b. d 50. account types permitted for postings 2. you specify a no. hidden. a. true 41. c 55. b 53.c 29. c 46. G/L account 16. false 34. false 39. field status 15. the field status of additional details 10. b 54. posting key 50 13. false 36. a 52. d Document control 1. b 45. range for each document type. One no. true 33. b 26. field status group. no. company code 17. c 51.d 27. credit. d 56. c 28. side of the account (dr/cr). a 25. b 48. false 40.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 24. posting key 11. true 37. b. c 47. debit. true 35. true 32.c.c 31. year independent 42. valid for all accounts 27 . true 43. error 12. true 14. b. external 3. false 7. false 38. a 57.. year dependent.c 30. true 8. posting key 40. false 5. determination of which account type can be posted to. c 44. external 4. ranges for document nos. a 49.

first company code no. true 28 . post with clearing 2. cash discount revenue account. company code. taxation at regional/jurisdictional level 13.b 23. cash discount loss account 11. system data. cash discount expense account 12. posting key. false 23. base line date 9. G/L accounts 19. the cross company code transaction no. true 19. false 28. a 21. a.b. sales area 8. true 16. false 31. accounting functions 2. true 5. reversal by negative posting 3. line items 33. account clearing.c. true 32.. year dependent 35. false 22. b 22. a. parameter memory. c 26. . central payment 15. false Posting control 1. user master records.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 18. true 25. a. false 29. the reversal reason must be defined for negative posting 4. false 37. and the fiscal year 20.d 24. tax accounts 14. document header. account master record. taxation at national level.. is a combination of document no. all false 25. false 18. false 24. false 30. central purchasing. true 7. 38. rules. in 1st company code. 10. false 21. external 34. true Clearing 1. true 36. the company code must allow negative postings. cash discount clearing account. false 20. normal reversal posting. false 6. false 27. false 17.

true 29 . true Special G/L transactions 1. true 22. false 7. true 10. house banks 3. false 6.c 11. false 20. b.b. a single G/L account can be used for all currencies and currency types. account clearing 8. maintain parameters. paying company codes. true 13. a. false Automatic payments 1. next posting date 6. a. true 21. true 4.c 16. a single G/L account can be used per currency type 14. false 19. true 5.b 14. a. all company codes. true 9. true 12. false 8. b 17.c.b. editing proposal. false 5. false 3.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 3. a single G/L account can be used per currency and currency type. true 19. bank selection. payment method/company code. printing payment media 2. parameters 4. true 18. a 15. a. true 6. residual item 10. true 16. false 4. posting with clearing 9. payment run. payment parameters 7.c 12. true 2.d 15. payment method/country. false 23. proposal run. a 13. a single G/L account can be used per currency. true 17. a 18. false 7. partial payment 11.

maintain parameters. items are within grace period. true 30. false 24. 8. a. false 26. c 23.b 22.c 21. false 25. items/accounts blocked for dunning. sales area Automatic dunning 1. items can be cleared with overdue items on credit side.b. a. true 32. a. A name for the interest calculation indicator is useful but not mandatory 30 . false 29. account balance interest calculation. true 5. true 18. a 2-character interest indicator and an interest calculation type.b. true 7. a. false 33. line item dunning. false 19.c 25. false 3. a. overdue amount < min amount.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 24. true 5. base line date 35. false 12. true Interest calculation 2. account dunning 9. false 13. true 17. true 10.c 20. true 14. true 27. printing dunning notices 2. account selection. true 16. false 4.c Correspondence 1. item interest calculation (interest on arrears) 6. editing the dunning proposal. …. false 11. true 4. true 15. true 3. account not contained in parameters. false 6. proposal run. false 28. true 31. false 34.

a. d 10.b. 3. false 31 . a 11. true 4. false 7. false Receivables and Payables 1. b 14. b 2. c 7. 6.ACADEMY: FINANCIAL ACCOUNTING FI PAPER – 15 7. d 8. a. b 4.d 9. b 13. 2. a 6. a 16. false The financial statements 1. true 3. payment document. on account. false 3. 4.b 2. they contain detailed information about an incoming payment. c Profit and loss 1.c 2.c. c 12. b Country specifics 1. Lock box program uses the information to clear open items on the customer account 8. a. false 8. 5.c 6.b. a 6. assigned. a 3. auto payment program-RFFOUS_C or RFFOD_S true true false service provided by banks to speed up collection and processing of incoming payments 7. a.b. d 15. partially assigned. false 5. checks manual check. vendor invoice. b 5. not processed 9. true 4. true 5.

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->