It is my desire to assit potential SAP Business One candidates on preparation for the certifications exam.

I will post insightful questions on SAP Business One on this blog at regular intervals. I will start with the introductory chapters in the TB1100 (financials) manual. Some of the questions have more than one answers. The answers are at the end of the question Your opinions and suggestions or inquires about SAP BUsiness One are welcomed. 1.There are 3 types of balance sheets accounts, which is not among the balance sheets a/c a. Assets a/c b. Liability a/c c. Revenue a/c d. Equity a/c

2. At the end of the fiscal year, the balances of asset a/c will be displayed on the active side, while liability will be on the passive side of the balance sheet.True or False

3. There are 2 types of income statement a/c, they are a. Revenue and capital a/c b. contingency and capital a/c c. assets and liability a/c d. Revenue and expense a/c

4. At the end of fiscal year balances of the revenue a/c will be subtracted from the balances of the expense account to get the profit or loss .True or False

5. In the Chart of accounts (COA), which level consist of several a/c groups for accounts of different types a. Level 1 b. Level 2 d. Level 5 e. all of the above

6. How many levels are there in the chart of accounts a. 7 b. 5 c. 4 d. 3

7. Level 2-4 consist of active or titles accountsTrue or False

8. Which level contains active accounts only a. Level 1 b. Level 2 d. Level 5 e. all of the above

9. The system displays the group cabinets a/c, i.e. Level 1 in

a. black with grey background b. blue c. black with blue background d. blue with black background

10. The system displays level 2-4 in a. black with grey background b. blue c. black with blue background d. blue with black background

11. The system displays level 5 in a. black b. blue c. green d. grey

12. Accounts that you have entered in G/L a/c determination (primary a/c) are displayed in a. black with grey background b. blue c. green d. grey

13. If you wish to create your own chart of account instead of using the system you select User Defined in the Basic Initialization tab .True or False

14. A control a/c links business partner to the general ledgerTrue or False

15. The system displays the total account balance in business partner record. The line item displays a. debit balance in red and credit in black with parentheses b. debit balance in black and credit in green with parentheses c. debit balance in blue and credit in green with parentheses d. debit balance in black and credit in green with parentheses ANSWERS 1. C 1. REVENUE A/C 2. TRUE 6. B, 5 LEVELS 7. 3. D TRUE 8. 4. TRUE D, LEVEL 5 9. 5. A, LEVEL 1 C, BLACK WITH BLUE 14. TRUE 15. B

10. B, BLUE

11. A, BLACK

12. C, GREEN 13. TRUE