SAP ERP Financial Accounting (FI) - 0607

7/6/2017 SAP ERP Financial Accounting (FI) Certifications Practice Exam - Full | ERPPrep
SAP ERP Financial Accounting (FI) Certifications Practice

Exam - Full
You got 57 of 80 possible points.

Your score was: 71 %
Question Results
Question: Score 1 of 1
what is the purpose of the group account number in G/L account master
maintenance?
Please choose the correct answer.
Response:
it determines the fields in the entry screen when you create or update a master record
in the company code
it defaults the number interval that is applied for the G/L account number in the
company code
it is used for cross-company code reporting if the company codes use different chart of
accounts
it acts as the key to identity the balance sheet and profit and loss accounts in the
financial statement version
Which of the following business scenarios can be handled with accrual and deferral
postings?
Response:
One-time payment for fixing flooding damage

http://www.erpprep.com/node/379/myresults/436612 1/35
Monthly subscription to a financial newspaper
Monthly rent payments for an office building
One-time payment for one-year cloud storage service
A customer payment was received. An open item does NOT exist for the payment.
What option is available to the user?
Response:
partial payment
payment on account
residual item
payment run
which elements do you need to enter during document posting to distinguish

between international and local Generally Accepted Accounting Principles (GAAP)?
Note: there are 2 correct answers to this question
Note: Answers of this question are not verified by our experts, please study yourself and
select the appropriate answers.
Contribute: Please send the correct answers with reference text/link on

feedback@sapexam.com to get 50% cashback.
Response:
Account Groups for the Account Approach
Ledger Groups for the Ledger Approach
Accounts for the Account Approach
Ledger for the Ledger Approach
In your leading ledger (ledger solution), balance sheets must be created for
company codes and segments. Which Customizing settings do you need to make?
There are 2 correct answers to this question.
Response:
Define a retained earnings account.
Activate cost of sales accounting.
Assign the Segment Reporting scenario to your leading ledger.
Define two retained earnings accounts and assign them to your P&L accounts.
You want to use external number assignment for specific document types. What is
the special feature of external number assignment?
Response:
The system issues the numbers automatically.
The numbers can be alphanumeric.
The number ranges can be used across all company codes.
The number ranges can overlap.
which information do you maintain for house banks?
Response:
general ledger accounts
customer and vendor accounts
information for electronic payments transactions
bank accounts for each house bank
information for electronic bank statements
What happens when the debit balance check runs and a vendor is selected?
Response:
the user is asked to change the parameters
credits are paid and debits are blocked
the vendor is blocked for this payment run
the payment run stops and needs to be restarted
You entered a G/L account posting and received an error message saying that
account type D (customer) is not allowed.
Which object causes this error ?
Response:
Currency key
Document type
Field status variant
Tolerance group
ERP offers enterprise centric functionality (general ledger, payroll, order entry) to
integrate core, internal processes. About the definition of ERP and e-business
functionalities, we can say that...
Response:
ERP is mySAP Financials and mySAP HR.
About Business Model, ERP can be considered as enterprise centric and e-business, as
extended and collaborative.
About Processes, ERP can have them integrated, core within enterprises and
collaborative, beyond company boundaries.
About Architecture, ERP can be considered as an integrated system and e-business, as

an integrated system and an open integration platform.
ERP is SAP R/3, while e-business is mySAP.com.
Where can you block an open vendor invoice for payment?

Response:
in the general segment of the vendor master record
in the company code segment of the vendor master record
in customizing for sensitive fields
in the invoice document during posting
You have entered a non-invoice-related credit memo and selected the term of
payment "Net due 30 days". The Invoice Reference field is empty (it contains
neither a document number nor a V).
What effect does this have on the term of payment ?
Response:
An error occurs.
The term of payment is valid.
The term of payment is invalid.
The term of payment is copied from the last valid invoice of the customer.
for which purpose do you use report variables in report variants?
Response:
to save date fields dynamically
to save value fields across company codes
to save value fields as client-independent fields
to save date fields as user-specific fields
how can you post accruals?
Response:
use the recurring entry program
regroup the receivables and payables
post manually at the end of the period, quarter or year
use the document split functionality
Which of the following items can you assign directly to the asset master record on
the Time-Dependent tab?
Response:
segment
useful life
quantity
Evaluation group
Whitin the line items of FI documents, what does the posting key control?
Note: there are 3 correct answers to this question.
Response:
the field status of additional details
whether the item is posted with reference to primary or secondary cost elements
the account type to which the line item can be posted
the account group to which the line item can be posted
whether the item is posted as a debit or credit
You entered a non-invoice-related credit memo and selected Net Due 30 Days as
the term of payment. The Invoice Reference field is empty.
What effect does this have on the term of payment entered in the credit memo ?
Response:
The term of payment entered in the credit memo is ignored during clearing.
An error occurs.
The term of payment entered in the credit memo is replaced by the term of payment
from the last valid customer invoice.
The term of payment entered in the credit memo is used during clearing.
which activities does the regrouping program of receivables and payables support?
Response:
regrouping of receivables and payables to accrual earnings or expense
grouping receivables and payables by their remaining life
regrouping open items based on changed reconsolidation accounts
regrouping and clearing open items for affiliated companies on customers and vendors
you have 50euro debit and 80 euro credit on an account. This account is assigned
to the assets side in a financial statement version, with the debit indicator and the
credit indicator set.
How is this shown on the balance sheet?
Response:
the balance is shown on the assets side.
the balance is shown on the liabilities side
50 euro is shown on the liabilities side and 80 euro is shown on the assets side
50 euro is shown on the assets side and 80 euro is shown on the liabilities side
What are the prerequisites for setting up cross-company cost accounting?

Response:
The same currency is used for all company codes.
The same chart of accounts is used for all company codes.
The same fiscal year is used for all company codes.
The same variant for open periods is used for all company codes.
Your customer wants to access line items for individual P/L accounts without
leaving the balance sheet and P/L display.
What do you recommend?

Response:
Use a drilldown report.
Activate the Line Item Display flag in the financial statement version.
Use the standard Financial Statements (RFBILA00) report.
Run a line item report.
Your customer runs an SAP ERP system with New General Ledger Accounting
activated. What do you need to do for Profit Center updates to be part of the
general ledger?
Response:
Activate transfer prices in Profit Center Accounting.
Assign the Profit Center Update scenario to the ledger.
Set up the same group currency for all company codes and profit centers.
Deactivate document splitting for profit centers.
What are the advantages of the Payment Medium Workbench (PMW)?

Response:
It automatically creates direct debits.
It can be used to create new payment formats.
It activates the automatic import of settings related to changes in payment transaction

laws.
It can be used to change payment formats without modifying the programs.
It provides a uniform set of functions for all kinds of payment methods.
Which parameters do you have to specify if you want to execute a payment run?
Response:
Currency
Bank account
Company code
Payment method
Fiscal year variant F! has six posting periods and fiscal year variant F2 has four
posting periods. The posting periods have different start and end dates for each
fiscal year.
Variant F1 is assigned to leading ledger (0L) and F2 assigned to the non-leading

ledger(N1). You get an error message when making a posting in the non-ledger
ledger.
What causes this error message?

Response:
the posting period variant of the non-leading ledger and the leading ledger are
different.
the posting is being made in a special period, but both variants are examples of a
shortened fiscal year.
posting period for the non-leading ledger group ‘’N1’’ is closed
the fiscal year variant of the non-leading ledger and the leading ledger are different.
You post a G/L document. For the Text field, the field status of the posting key is
set to Required Entry and the field status of the G/L account is set to Hidden Entry,
What happens during posting?
Response:
The Text field is hidden.
An error message is shown.
The document is posted.
A warning message is shown.
Which options are available to define the number range of a document?
Response:
For every fiscal year variant
For every fiscal year
Continuous
Ledger group specific
in a customer master record, which key field for dunning is maintained on the client
level?
Response:
dunning procedure
communication – language
payment terms
payment method
You entered a G/L account posting and received an error message which says that
account type S is not allowed. Which object causes this error?
Response:
Field status variant
Document type
Currency key
Posting key
On which level are asset classes created?
Response:
client
ledger
company code
chart of depreciation
which of the following can you choose for a report variant?
Response:
a selection variable
protect field
user group assignment
batch input scheduling
The head of accounts receivable requires that all items posted to individual
customer accounts are posted to their headquarters.
Which function do you have to use to fulfill this requirement ?
Response:
Cash management group
Head office and branch account
Alternative payer/payee
Single bank account

You want to post an invoice from vendor. The vendor has specified an alternative
payee. The alternative payee is not a vendor or customer in your system.
Which of the following functions enables you to capture the data when processing
the invoice?
Response:
Partner bank account
Individual specifications
Clearing with vendor
Decentralized processing
when capturing an incoming payment manually, which date is part of the bank data
section of the document?
Response:
value date
document date
currency transaction date
posting date
you have entered a head office in your vendor master record. What is the
consequence?
Response:
all correspondence with the branch is automatically sent to the head office, too
the bank details of the branch account are automatically updated with the bank data
of the head office account
the branch account is automatically assigned to the same account group as the head
office account
all items posted to the branch account are automatically transferred to the head office
account
What are the necessary elements required to create a customer-specific drilldown

report for New General Ledger Accounting?
Response:
Characteristics
Variables
A form
A report header
You want to update the Search Term2 field in your customer master data, but the
field does not appear in the maintenance transaction.
Which field status definitions do you have to check and, if necessary, change in
Customizing?
Response:
Field status definitions of company codes
Field status definitions of activities
Field status definition of the assigned reconciliation account
Field status definitions of account groups
In which life cycle scenarios is the SAP Solution Manager used?

Response:
Implementation
Optimization
Retirement
Scoping
Operations
You have been asked to copy a company code from an existing company code.
Which existing objects can be assigned automatically?
Response:
controlling areas
Profit center groups
G/L accounts
Customer master data
Your customer runs an SAP system with New General Ledger Accounting activated.
They want to run a valuation of accounts receivable that are posted in foreign
currency.
What do you have to do?
Response:
Assign a valuation method to all customer master records that you want to valuate.
Set up the Valuation Cockpit to perform this task.
Set up a new exchange rate type and assign it to a valuation method.
Set up a valuation method and assign it to a valuation area.
Which two data sections are part of every asset?
Response:
Depreciation data section
Master data section
Valuation area data section
Account determination data section
The government announces that it plans to change the basic VAT tax percentages
from 20% to 18%. What do you have to do in the system in order to comply?
Response:
Change the tax percentage for input and output tax codes to 18%
create new tax codes with the 18% VAT percentage for input and output tax
change the tax percentage for existing input tax codes to 18%
create new tax codes with 18% VAT percentage for input tax
Which of the following parameters are defined in the payment program to select
appropriate open items?
Response:
Bank account
Program identification
Purchasing group
Exchange rate type
what needs to be maintained in Customizing to allow cross-company code

transactions?
Response:
VAT accounts
field movement
posting authorizations
clearing accounts
posting keys
Which objects can be assigned to an asset master record with New General Ledger
Accounting?
Response:
Segment
Profit center
Profitability segment
Account determination
Internal order
In a payment run, the data entered for a payment method in the document may
differ from the master data. How is this resolved by the system ?
Response:
The payment run temporarily stops, and the system prompts you to correct the data.
After you have corrected the data, the payment run continues.
Master data overrides document data.
The payment run stops and the system issues an error message.
Document data overrides master data.
Special G/L transactions can be divided into which types?

Response:
Interest
Free offsetting entry
Automatic offsetting entry
Noted item
Value adjustment
What does the year-end closing program in asset accounting do?
Response:
it carries out depreciation simulations and makes adjustment postings
it checks the depreciation lists and asset history and then posts depreciation
it generates the next available open period for each depreciation are
it checks whether the depreciation and asset balances are posted comprehensively
In the customer master record, what does the account group control?
Response:
the customer number range
the field status in the customer master record
the reconciliation account
the assigned accounting clerk
To which of the following does an asset class apply?

Response:
To all company codes in a controlling area
To all company codes in a client
To all company codes in an instance (client-independent)
To all company codes within a client, which share the same chart of accounts
Which steps are necessary to run a payment program?

Response:
Schedule print
Configure open item list
Start proposal run or payment run
Start transfer of open items to the payment program
Maintain parameters
A customer is running SAP ERP 6.0 with New General Ledger Accounting. For which
purpose can they use the Closing Cockpit?
Response:
To run reconciliation between CO and FI
To perform day-to-day activities
To create mass change of offsetting days for existing activities
To perform periodically recurring activities
Which elements of a customer account are created when you maintain the account
decentralized in Financial Accounting?
Response:
General data, company code data, and purchasing organization data
General data and sales area data
General data, company code data, and sales area data
General data and company code data
You need to assign more than one company code to one controlling area. Under
what kind of a business scenario would you need to consider such a decision?
Response:
Multilevel Product Cost Management across company codes
Representation of intercompany processes, whereby producing and delivering plant

are the same
Cross-company code transactions that MUST be processed in a controlling area
A multinational enterprise acquires a company in a country which has local

reporting requirements. The multinational enterprise wants to use one operational
chart of account for all companies.
How can you fulfill this country-specific requirement ?

Response:
Create a country-specific chart of accounts and assign it to the group chart of

accounts.
Create a country-specific chart of accounts and assign it to the regular chart of

accounts.
Create a country-specific chart of accounts and assign it to the company code.
Create a group chart of accounts and assign it to the company code.
Which of the following are the main components of a drilldown report?

Response:
Characteristics and variables
Variables and general selection criteria
Variables and key figures
Characteristics and key figures
Consider the following sentences about the indirect quotation, what is the correct
option?
1) It is also known as volume notation.

2) The currency value is expressed in the local currency per unit of foreign currency
3) For indirect quotation, there is no prefix to difference between direct quotation.
Response:
None of them.
All of them.
A customer wants to use segment reporting on balance sheet and P/L

accounts. Which business function do you recommend?
Response:
Special Purpose Ledger
New General Ledger Accounting

Profitability Analysis
Profit Center Accounting
Which object can be used to derive the profit center automatically during posting?
Please choose the correct answer
Response:
business area
segment
company code
cost center
How can the short text field of a G/L account be changed?

Response:
Individually, in the company code segment
By making the change at the start of a new fiscal year
By making sure that the field status of the chart of accounts segment allows it
Centrally, in the chart of accounts segment
which new Customizing object requires you to reconfigure the depreciation areas in
new Asset Accounting?
Response:
asset classes
valuation areas
accounting principles
Chart of accounts
During reorganization, two cost centers are merged, and all future postings should
go to only one of them.
If postings are made to the wrong cost center in future FI-postings, your customer
wants to ensure that the wrong cost center is automatically replaced by the correct
one.
What will you recommend?
Response:
Define two substitutions for the Line Item call-up point.
Define a validation in CO to ensure that the functional area is filled in the cost center
master.
Define a substitution in FI with the wrong cost center as a prerequisite and the correct
one as the substituted value.
Create a user-specific program to substitute the wrong cost centers automatically

overnight.
How do you implement parallel accounting in Asset Accounting?

Response:
By using two different charts of depreciation
By using an extra chart of accounts
By using two depreciation areas
By using two asset classes
your client would like to show information about customers during reporting
without updating the general ledger. Which special G/L type do you recommend?
Response:
bill of exchange
noted items
down payment
automatic offsetting entry
Identify the features of the service desk?

Response:
SAP Help
Customer solution database
Message handling process

Managing SAP Notes
Solution Manager diagnostics
Error handling
Which functions can you use to generate inter-company posting documents?

Response:
Central payment
Intercompany asset transfer
Intercompany dunning
Central currency valuation
Which of the following is one of the benefits of document parking?

Response:
It enables technically incomplete documents to be posted.
It provides a user friendly way of changing posted documents.
It enables individual document numbers to be assigned.
It enables the use of the dual control principle.
About evolution in the world of business, we can affirmate that...

Response:
The internet has driven to a collaborative environment where value is created through
collaboration within business communities.
The internet revolution could turn available to companies the use of ERP functionality.
In the first the companies were looking at Cost reduction and efficiency through
integration of business communities.
The next generation of "new dimension" products appeared taking functionality out of
the company, to bring value through extending the Internet Revolution.
Consider the following sentences about the chart of accounts segment, which of
these combinations are false?
1) It contains the Company Code, Account number and the field status group.
2) Whenever you need to enter information for a company code for an account number, you
have to type again the information related to chart of accounts segment.
3) Texts can be displayed using the program "Account assignment manual"(RFSKTHOO).
4) Keywords facilitate the search for account numbers.
Response:
None of them.
Down payments can be posted using a special G/L transaction. What is the main
benefit of this functionality?
Response:
It posts down-payments to a reconciliation account that is different from that of

ordinary payables and receivables.
It shows data in the appendix of the balance sheet.
It automatically clears down-payment requests.
It automatically creates the final invoice and clears down-payments against it.
What can we define into the chart of accounts customizing transaction (OB13
transaction)?
Response:
Maintenance language.
Description.
Blocking / unblocking chart of accounts.
Length of the G/L account number.
Length of the company code.
Which functions can be used to generate inter-company posting documents?

Response:
Central payment
Central currency valuation
Central cash journal
Central procurement
Consider the following sentences about field status:
1) Fields which _____________can be made____________.

2) Fields that can be entered, but are not required, can be set to _________entry
Which of the options below matches the blank spaces of those sentences?
Response:
1) must have an entry / suppressed, 2) suppressed
1) must have an entry / optional, 2) optional
1) must not have an entry / optional, 2) suppressed
1) must not have an entry / required, 2) optional
1) must have an entry / required, 2) optional
you have an SAP ERP 6.0 system with classic G/L accounting. What do you need to
do before you install the SAP Simple Finance add-on?
Response:
use the SAP Fiori interface
migrate to an SAP HANA database
complete year-end closing
migrate to new G/L accounting
What does the year-end closing program do in Asset Accounting?

Response:
It opens new annual value fields for each asset.
It checks whether the previous year has been closed in Financial Accounting.
It checks whether assets contain errors or are incomplete.
It checks whether depreciation and assets are fully posted.
A company code is...

Response:
The highest level in the R/3 system hierarchy.
A dependent accounting entity, according to Fiscal Year.
An independent accounting entity (the smallest organization element for which a

complete self-
contained set of accounts can be drawn up).
An organizational unit in an enterprise that represents a closed system used for cost
accounting purposes.
An organizational unit that provides an additional evaluation level for the purpose of
segment reporting, for example.
How do you prevent duplicate vendors from being created?

Response:
Run the Vendor De-Duplication report.
Activate master data comparison for the vendor.
Use matchcode to check whether the vendor already exists.
Activate message control for the duplicate vendor check.
Which of the following objects can be used to derivate segments automatically?
Response:
Cost center
Profit center
G/L account
Functional area
You receive a payment where the difference from the posted invoice is larger than
the stated tolerance limit. How can you deal with this?
Response:
Post the difference to an account assigned to a reason code.
Post the difference as a residual item.
Split the received payment so that it falls below the tolerance limit.
Increase the tolerance limit manually while posting the document.
You want to capitalize an Asset under Construction (AuC) using the line item
settlement process. However, the settlement does not work. What could be the
reason?
Response:
There is no settlement profile assigned to the company code.
The status of the AuC is set to Summary Management.
The settlement profile does not allow assets as valid receivers.
The Depreciation Engine is not active.
The AuC has not been released.
Money Back Guarantee Testimonial FAQs Privacy Policy Terms and Conditions About Us Join Us
Contact Us

SAP ERP Financial Accounting (FI) - 0607

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

SAP ERP Financial Accounting (FI) - 0607

Uploaded by

Copyright:

Available Formats

7/6/2017 SAP ERP Financial Accounting (FI) Certifications Practice Exam - Full | ERPPrep

SAP ERP Financial Accounting (FI) Certifications Practice

You got 57 of 80 possible points.

Please choose the correct answer.

Please choose the correct answer.

One-time payment for fixing flooding damage

Monthly subscription to a financial newspaper

Monthly rent payments for an office building

One-time payment for one-year cloud storage service

Please choose the correct answer.

which elements do you need to enter during document posting to distinguish

Note: there are 2 correct answers to this question

Contribute: Please send the correct answers with reference text/link on

Account Groups for the Account Approach

Ledger Groups for the Ledger Approach

Accounts for the Account Approach

Ledger for the Ledger Approach

Define a retained earnings account.

Activate cost of sales accounting.

Assign the Segment Reporting scenario to your leading ledger.

The system issues the numbers automatically.

The numbers can be alphanumeric.

The number ranges can be used across all company codes.

The number ranges can overlap.

which information do you maintain for house banks?

Note: there are 3 correct answers to this question

general ledger accounts

customer and vendor accounts

information for electronic payments transactions

bank accounts for each house bank

information for electronic bank statements

Please choose the correct answer.

the user is asked to change the parameters

credits are paid and debits are blocked

the vendor is blocked for this payment run

the payment run stops and needs to be restarted

Field status variant

ERP is mySAP Financials and mySAP HR.

About Architecture, ERP can be considered as an integrated system and e-business, as

ERP is SAP R/3, while e-business is mySAP.com.

Where can you block an open vendor invoice for payment?

Note: there are 2 correct answers to this question

Contribute: Please send the correct answers with reference text/link on

in the general segment of the vendor master record

in the company code segment of the vendor master record

in customizing for sensitive fields

in the invoice document during posting

The term of payment is valid.

The term of payment is invalid.

for which purpose do you use report variables in report variants?

Please choose the correct answer.

to save date fields dynamically

to save value fields across company codes

to save value fields as client-independent fields

to save date fields as user-specific fields

how can you post accruals?

Note: there are 2 correct answers to this question

use the recurring entry program

regroup the receivables and payables

post manually at the end of the period, quarter or year

use the document split functionality

Please choose the correct answer.

Note: there are 3 correct answers to this question.