SAP ERP Financial Accounting (FI) - 2

10/05/2017 SAP ERP Financial Accounting (FI) Certifications Practice Exam Full | ERPPrep
SAP ERP Financial Accounting (FI) Certifications Practice
Exam Full
You got 40 of 80 possible points.
Your score: 50 %
Question Results
Question: Score 0 of 1
which information do you maintain for house banks?
Note: there are 3 correct answers to this question
Response:
bank accounts for each house bank
customer and vendor accounts
general ledger accounts
information for electronic bank statements
information for electronic payments transactions
A customer wants to define a chart of depreciation. How do you recommend
setting up depreciation areas?
Please choose the correct answer.
Response:
Based on company codes
Based on relevant currencies
http://www.erpprep.com/node/379/take 1/36
Based on the aims of internal or external reporting
Based on the relevant chart of accounts
The chief accounting officer wants the values for a special group of assets to be
shown separately in the general ledger. Which objects do you need to create in
Customizing for Asset Accounting to meet this requirement?
Note: there are 2 correct answers to this question.
Response:
a new asset class
a new depreciation area
a new financial statement version
a new account determination key
What do you define when you configure a dunning procedure?
Response:
Dunning levels and account determination to post dunning interest
Dunning levels and dunning charges for each dunning level
Dunning charges for each dunning level and customers to be dunned
Dunning levels and the language of the dunning note
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 countryspecific requirement ?
Response:
Create a countryspecific chart of accounts and assign it to the group chart of
accounts.
Create a countryspecific chart of accounts and assign it to the regular chart of
accounts.
Create a group chart of accounts and assign it to the company code.
Create a countryspecific chart of accounts and assign it to the company code.
A company uses different terms of payment. What can you define for these terms
of payment?
There are 3 correct answers to this question.
Response:
Cash discount percentage rates
Interest calculation
Baseline date for due date calculation
Cash flow calculation
Cash discount periods
What options do you have for posting an asset acquisition?
Response:
Asset acquisition posted from Materials Management
Asset acquisition using a clearing account
Asset acquisition posted via the accrual engine
Asset acquisition posted via the payment program
Asset acquisition integrated with accounts payable
Which of the following special G/L transactions are noted items?
Response:
down payment request
bill of exchange payment request
down payment
guarantee of payment
which elements do you need to enter during document posting to distinguish
between international and local Generally Accepted Accounting Principles
(GAAP)?
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 for the Ledger Approach
Ledger Groups for the Ledger Approach
Accounts for the Account Approach
which activities must be performed to create new validations and substitutions?
Response:
select the current callup point
define the area of application
choose the chart of accounts
deactivate all former validations and substitutions
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 run
residual item
payment on account
Which SAP NetWeaver component ensures companywide unification of data and
information in heterogeneous IT environments?
Response:
Web Application Server (AS)
Master Data Management
Enterprise Portal
Integration Broker
what limitation do you have to consider for the fiscal year variant assigned to the
leading ledger of a company?
Response:
it must be the same as the posting period variant assigned to the company code
it must have 12 normal periods and up to 4 special periods (13 to 16 periods in total)
it must be the same for all ledgers that are used by the company code
it must match all other company codes assigned to the same controlling area
You want to use external number assignment for specific document types. What is
the special feature of external number assignment?
Response:
The number ranges can be used across all company codes.
The system issues the numbers automatically.
The number ranges can overlap.
The numbers can be alphanumeric.
Sensitive fields have been defined and customized for vendor master data. For
which of the following sensitive fields will an update trigger dual control?
Response:
Vendor account group
account group
currency
IBAN
Identify the features of a Business Blueprint ?
Response:
Blueprint structure
Associated items
Business process groups
Blueprint document
Business scenarios
Business groups
Which infrastructure supports core business solutions in four subcomponents
including people integration, information integration, process integration, and
application platform ?
Response:
SAP NetWeaver
SAP Business Process Management
SAP Web AS
SAP Exchange Infrastructure
Which of the following tax types does the SAP System support for calculating,
posting, and correcting tax, as well as for tax reporting?
Response:
Tax on sales & purchases
Additional Taxes
Withholding Tax
TopUp Tax
Which of the following objects can you post to via the cash journal?
Response:
Customer
Asset master
Accrual Engine
Onetime customer
Material master
Which activity will have an impact on the net book value of an asset?
Response:
Changing the assigned cost center
Changing the account determination
Changing the useful life of the asset
Changing the assigned WBS element
Which of the following objects can be used to derivate segments automatically?
Response:
G/L account
Cost center
Functional area
Profit center
What is the segment that makes complete both customer and vendor accounts?
Response:
Controlling Area.
Client.
Sales Area.
Company Code.
Purchasing Organization.
While posting a G/L document, two different field statuses (for the posting key
and the G/L account) have an impact on the posting.
What happens if one field status is set to Required Entry and the other one to
Hidden Entry ?
Response:
The document can be posted anyway.
An error message will occur.
The field will be hidden.
The field will be available for entry.
At the end of a fiscal year the system carries forward the balance of certain
accounts to a special retained earnings account and sets them to zero.
Which accounts are treated in this way?
Response:
Balance sheet and P&L accounts
Balance sheet accounts
P&L accounts
Accounts managed only on the basis of open items
Consider the following statements, Which of the following statements are true?
1) Accounts with open item management must have line item display activated.
2) You can activate or deactivate open item management everytime, even if the account
hasn't a zero balance.
3) You can select both local and foreign currencies as account currency.
4) If the account is the local currency, the account can only be posted to this currency.
5) When using the "Only Balances in Local Currency" indicator in the master data record,
transaction figures are only managed for amounts translated into local currency.
Response:
3
what is the purpose of the group account number in G/L account master
maintenance?
Response:
it defaults the number interval that is applied for the G/L account number in the
company code
it acts as the key to identity the balance sheet and profit and loss accounts in the
financial statement version
it determines the fields in the entry screen when you create or update a master record
in the company code
it is used for crosscompany code reporting if the company codes use different chart of
accounts
Which of the following statements are true?
Response:
Number intervals for G/L account master records can overlap.
In the chart of accounts segment, it is necessary to indicate whether the account will
be a balance sheet or a profit + loss statement account.
For P+L statement accounts, the balance is carried forward to the same account.
Every company code that needs to use an account from the assigned chart of accounts
has to create its own company code segment.
It is not possible to influence the appearance of an account's master data.
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 stops and the system issues an error message.
The payment run temporarily stops, and the system prompts you to correct the data.
After you have corrected the data, the payment run continues.
Document data overrides master data.
Master data overrides document data.
How does the SAP ERP ECC 6.0 wih new G/L accounting support realtime COFI
integration?
Response:
the universal journal provides a common database table for both CO and FI postings
the controlling area can be configured wth one to one assignment to a company code
batch reconciliation postings are generated from the reconciliation ledger
a separate posting period interval specifically for the COFI postings is provided
how can you avoid the creation of duplicate vendor master data?
Response:
mark the VAT Registration Number as a sensitive field
use match codes and activate the automatic duplication check
execute the master data comparison reports RFKKAG00 and RFDKAG00
mark the VAT Registration Number in the field status group as required
Your customer wants to perform their yearend closing activities. Which of the
following activities are mandatory to close the books?
Response:
Run fiscal year change in Asset Accounting.
Run planning and budgeting.
Run the carryforward.
Run balance sheet open item analysis.
A company sells products. Sometimes, when dealing with complaints, they need to
issue a credit memo.
Which accounts will be used to issue credit memos?
Response:
Receivables and revenue account
Payables and expense account
Receivables and expense account
Payables and revenue account
what do you need to configure in order to create a correspondence type?
Response:
tolerance group
print program
form
variables
you post a credit memo for an invoice with a posting date one week after the
invoice was entered. How can you ensure that the due date of the credit memo is
the same as the due date of the invoice?
Response:
ensure that the same payment terms are used in both documents
ensure that the same payment method applies to both documents
enter a ‘’V’’ in the invoice reference field of the credit memo
enter the invoice number in the invoice reference field of the credit memo
What are the callup points for validations in FI ?
Response:
Basic data section, detailed data section, and line item
Document header, line item, and complete document
Basic data section, line item, and complete document
Document header, document type, and complete document
which activities does the regrouping program of receivables and payables
support?
Response:
regrouping open items based on changed reconsolidation accounts
regrouping and clearing open items for affiliated companies on customers and vendors
grouping receivables and payables by their remaining life
regrouping of receivables and payables to accrual earnings or expense
Your chief accountant would like to display companyowned cars separately in the
balance sheet. These cars were previously included in the asset class "factory and
office equipment". What do you have to configure?
Response:
Create a new asset class, but use the same account determination.
Create evaluation groups to subdivide all assets of the class.
Create a new asset class and a new account determination.
Create a new account determination, but no new asset class.
Which postings are created by the depreciation posting run?
Response:
Book and cost accounting depreciations to assets
Transfer of deprecations to cost center planning
Postings to the depreciation accounts in the General Ledger
Yeartodate depreciation on current assets
which new Customizing object requires you to reconfigure the depreciation areas
in new Asset Accounting?
Response:
Chart of accounts
asset classes
accounting principles
valuation areas
Which information is updated on the invoice when posting a complete payment?
Response:
Clearing document number
Clearing account
Clearing date
Clearing currency
What is the disadvantage of using the group chart of accounts?
Response:
Because the company codes use different operational chart of accounts, you cannot
carry out crosscompany code controlling.
Because changes to existing G/L Accounts are effective as soon as they have been
saved and
could have extensive consequences.
Because the group chart of accounts must be assigned to each operational chart of
accounts.
Because accounts with the account currency as local currency can only be posted to
this local currency.
Because you must enter the group account number in the chart of accounts segment
of the operational account.
Instead of the classic system monitoring of individual system components with
Solution Monitoring, entire business processes can be monitored as a whole across
multiple components. Identify the components that define the concept of Solution
Monitoring ?
Response:
System Monitoring
Business Process Monitoring
Service Level Management
User Level management
Component Solution Monitoring
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:
Decentralized processing
Clearing with vendor
Individual specifications
Partner bank account
A customer wants to create a report that is to be run on a monthly basis showing
documents within a specific range for a specific company code that have been
posted within the current month. How can you create this type of report ?
Response:
Create a Compact Document Journal report.
Enter the values for the document interval and company code.
After saving this as a variant, add an appropriate D (Dynamic Date Calculation)
variable for the posting date on the Variant Attributes screen.
Create a G/L Account Balances report.
Enter the values for the document range and company code.
After saving this as a variant, add an appropriate D (Dynamic Date Calculation)
variable for the posting date on the Variant Attributes screen.
After running the report, save it to your desktop, where it can be updated every
month.
Enter the values for the document range and company code.
After saving this as a variant, add an appropriate T (Table) variable for the posting
date on the Variant Attributes screen.
Which of the following lists can be printed to help you edit a dunning proposal?
Response:
Blocked accounts
Blocked line items
Sales statistics
Condensed master data
Identify the benefits of SAP Solution Manager?
Response:
More reliable IT solutions
Reduced ROI
Reduced cost of operation
More leverage from IT investments
Faster ROI
Reduced cost of implementation
in a customer master record, which key field for dunning is maintained on the
client level?
Response:
communication – language
payment terms
payment method
dunning procedure
Consider the following statements, Which of them are false?
1) You cannot use the country chart of accounts if you desire to use the crosscompany code
controlling.
2) The disadvantage of using country chart of accounts is the accounting clerks who may be
familiar with the country chart of accounts first have to get used to using the operational
chart of accounts.
3) Reconciliation accounts are updated on a daily basis.
Response:
2 and 3
1 and 3
All of them
None of them
1 and 2
What does the SAP Web AS provide?
Response:
Master data harmonization across SAP NetWeaver
Storage of all transactional documents in one single database
J2EE and ABAP in a single environment
Realtime data exchange with all SAP systems
which of the following can be defined as key figures?
Response:
plan and actual variance
regional purchases
year and period
branch sales
plan and actual indicator
Which tools reduce the amount of work involved I the maintenance of exchange
rates?
Response:
inversion
base currency
average exchange rate
conversion
exchange rate spread
A customer is running SAP ERP 6.0 with New General Ledger Accounting.
For which purpose can they use the Closing Cockpit?
Response:
To perform periodically recurring activities
To perform daytoday activities
To run reconciliation between CO and FI
To create mass change of offsetting days for existing activities
During which actions does the system assign the document number for Financial
Accounting?
Response:
Park
Hold
Simulate
Post
Which specifications can you choose in the reverse document header data to
reverse a general ledger posting?
Response:
payment block
base date
document date
posting date
Which object do you have to activate to maintain profit centers directly in Asset
Accounting with all business functions for New General Ledger Accounting
activated ?
Response:
Profit Center Update Scenario
Profit Center Reorganization
Segment Reorganization
Segment Reporting
What do you define in Customizing for the payment program?
Response:
available amounts
bank subaccounts
forms for the payment media
assignments for the profit center
prerequisites for the debit balance check
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.
A warning message is shown.
The document is posted.
An error message is shown.
Which of the following are interactive functions available in the SAP List Viewer?
Response:
Dual control
Sorting
Filters
Summation
Master data modification
Which of the following objects must you enter when posting an asset acquisition
against a vendor?
Response:
Fixed asset balance sheet account
Document type
Special G/L transaction
Transaction type
Asset master record
Which of the following statements are true?
Response:
The "Only Balances in Local Currency" indicator is usually set in balance sheet
accounts that are not managed in foreign currencies and not managed on an open
item basis.
Accounts with a foreign currency as an account currency can be posted to any
currency.
The "Only Balances in Local Currency" indicator must not be set in reconciliation
accounts for customers or vendors.
The usage of a financial statement version for the group chart of accounts is optional.
You can use a group chart of accounts for internal purposes.
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:
The status of the AuC is set to Summary Management.
The settlement profile does not allow assets as valid receivers.
There is no settlement profile assigned to the company code.
The AuC has not been released.
The Depreciation Engine is not active.
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:
Deactivate document splitting for profit centers.
Activate transfer prices in Profit Center Accounting.
Set up the same group currency for all company codes and profit centers.
Assign the Profit Center Update scenario to the ledger.
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
Special G/L transactions can be divided into which types?
Response:
Value adjustment
Free offsetting entry
Automatic offsetting entry
Noted item
Interest
which data do you maintain in the chart of accounts segments of a G/L account?
Response:
authorization data
reconciliation data
consolidation data
user data
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:
Field status variant
Currency key
Tolerance group
Document type
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 as a residual item.
Split the received payment so that it falls below the tolerance limit.
Post the difference to an account assigned to a reason code.
Increase the tolerance limit manually while posting the document.
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:
50 euro is shown on the assets side and 80 euro is shown on the liabilities side
the balance is shown on the liabilities side
the balance is shown on the assets side.
50 euro is shown on the liabilities side and 80 euro is shown on the assets side
You have posted an incorrect amount in Financial Accounting. How can you correct
this?
Response:
Delete the document.
Reverse the document by negative posting.
Reverse the document by normal reversal posting.
Use a substitution to change the incorrect amount.
Change the amount in the posted document.
Which of the following items can you assign directly to the asset master record on
the TimeDependent tab?
Response:
useful life
Evaluation group
segment
quantity
SAP Solution Manager provides support throughout the life cycle of solutions
which common usage scenario is missing from the list of usage scenarios below?
(Implement SAP Solutions), (Monitor SAP Solutions), (Manage Service Desk), (Link to SAP
Services), (Upgrade SAP Solutions)
Response:
Monitor Service Desk
Implement SAP Services
Manage Change Requests
Link to Change Requests
Identify the steps in the ASAP (Accelerated SAP) Methodology.
Response:
Realization
Project Preparation
Go Live & Support
Roll out
Final Preparation
Business Blueprint
to which organizational unit can you assign your validation and substitution?
Response:
business area
segment
profit center
company code
which of the following accounts is assigned to the profit and loss section of the
financial statement?
Note : there are 2 correct answers to this question
Response:
depreciation
receivables
revenue
accumulated depreciation
Which stage of the sales process creates documents for both material management
and financial accounting?
Response:
shipping goods issue
shipping – delivery creation
sales order creation
billing
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 not have an entry / required, 2) optional
1) must have an entry / required, 2) optional
1) must have an entry / optional, 2) optional
1) must not have an entry / optional, 2) suppressed
1) must have an entry / suppressed, 2) suppressed
Your customer's Accounting department informs you that the company issues
checks. They need to easily differentiate payments made by check. How can you
facilitate this requirement?
Response:
Customize a line item report that filters data according to the text field, and instruct
users to enter the word "Check" in the field when entering such payments.
Use the payment method for checks.
Use the payment term for checks.
Create an additional field in the coding block called Check.
You entered a noninvoicerelated 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:
An error occurs.
The term of payment entered in the credit memo is used during clearing.
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 ignored during clearing.
which of the following tasks are stages of dunning execution?
Response:
schedule the dunning run
schedule the dunning intervals
maintain the dunning parameters
maintain te dunning levels
Which are the necessary steps to create a validation?
Response:
Check, control, message
Prerequisite, check, update, control
Prerequisite, check, message
Check, update, message
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