14
1. You can assign a business area to a company code directly? False 2. For what purposes are year-specific fiscal year variants usually used? If the start and end date of the posting periods differ from year to year. If one fiscal year has fewer posting periods than the others (shortened fiscal year) 3. Name the tools for maintaining the exchange rates. Inversion Base currency Exchange rate spreads. 4. In SAP ERP currencies are defined using __________. Currency Keys 5. Name three commonly used exchange rate types and what they are used for: M: average rate (for posting and clearing) G: buying rate B: selling rate 6. A GL account consists of which segments? Company code segment Chart of accounts segment 7. Name the possible field status definitions in the order of their priority. Hidden Display Required Optional 8. Different company codes can use the same __________. Chart of accounts

SAP FI (End-Of-chapter Questions)

Embed Size (px)

DESCRIPTION

End-Of-chapter Questions with answers of SAP FI (TFIN50, TFIN52)

Citation preview

Page 1: SAP FI (End-Of-chapter Questions)

1. You can assign a business area to a company code directly?False

2. For what purposes are year-specific fiscal year variants usually used?If the start and end date of the posting periods differ from year to year. If one fiscal year has fewer posting periods than the others (shortened fiscal year)

3. Name the tools for maintaining the exchange rates.Inversion Base currency Exchange rate spreads.

4. In SAP ERP currencies are defined using __________. Currency Keys

5. Name three commonly used exchange rate types and what they are used for:M: average rate (for posting and clearing)G: buying rateB: selling rate

6. A GL account consists of which segments?Company code segmentChart of accounts segment

7. Name the possible field status definitions in the order of their priority.HiddenDisplayRequiredOptional

8. Different company codes can use the same __________.Chart of accounts

9. __________ controls the field display for the company code data in the G/L account master record.

The account group

10. __________ contain the total of the transaction figures for the corresponding subledger accounts.

Reconciliation accounts

11. Reconciliation accounts are updated once a day.

Page 2: SAP FI (End-Of-chapter Questions)

False

12. You can always display the line items of a GL account.False

13. GL accounts with open item management must have line item display. True

14. GL accounts that are managed in local currency can only be posted to in this currency. False

15. GL accounts that are managed in a foreign currency can only be posted to in this foreign currency.

True

16. Because the company codes use different operational charts of accounts, you cannot carry out cross-company code controlling.

True

17. Do segments have a time reference? False

18. Are segments assigned to a hierarchy? False

19. Can I assign the same segment to multiple profit centers?True

20. A complete customer account consists of the following parts:General DataCompany code SegmentSales area segment

21. A complete vendor account consists of the following parts: General DataCompany code segmentPurchasing organization segment

22. The customer/vendor accounts must always be maintained centrally. False

Page 3: SAP FI (End-Of-chapter Questions)

23. One number range can only be assigned to one account group. False

24. __________ number assignment means that the SAP ERP system assigns the number automatically.

Internal

25. You maintain a customer/vendor master record __________if you create the financial segments at the same time as the sales order management/purchasing management’s segments.

Centrally

26. General ledger accounts have __________number assignment; customer and vendor master records can have __________ or __________number assignment.

Internal / Internal or external

27. What are the most important control functions of the document type? Number ranges for document numberAccount types permitted for postings

28. If the user assigns the document number manually, this is __________number assignment.External

29. __________ numbers may be alphanumeric. External

30. Every company code may define its own document types. False (Document types defined at client level)

31. Every company code may define its own document number ranges.True

32. At the beginning of a new fiscal year, the system always starts the document number assignment again at the star of the number range.

False

33. Document number ranges must not overlap. True

34. How many number ranges can be assigned to a document type simultaneously?One number range for each document type.However, you can use the same number range for several document types.

Page 4: SAP FI (End-Of-chapter Questions)

35. What are the most important control functions of a posting key? Definition of the account types that can be posted toAccount side (debit or credit)Field status of the additional account assignment

36. Name two elements that influence the field status of document fields.Field status groupPosting key

37. What are the standard posting keys for GL accounts and on which side of the account do they post to?

Debit: 40 Credit: 50

38. Posting keys are defined at client level.True

39. The __________group controls the field display during document entry. Field status

40. Each __________ has a field status group. GL account

41. The posting period variant is assigned to the __________.Company code

42. A posting period variant must contain at least one line with the entry __________. Valid for all accounts

43. The account range in the posting period variant consists of __________. GL Accounts

44. Posting periods are opened and closed automatically.False

45. No more than two periods can be open at the same time.False

46. The authorization group in the posting period variant applies only to authorization for posting in special periods.

False

Page 5: SAP FI (End-Of-chapter Questions)

47. List some sources of values that are defaulted by the system for document entry: User master recordParameter memorySystem dataAccount master recordAccountings functions

48. Name the two possible ways to reverse a document in SAP ERP financials. Normal Reverse PostingsReversal Negative Postings

49. What are the two prerequisites that must be fulfilled in order to process negative postings?Company code must allow negative postingsThe reversal reason must be defined for negative reversal

50. Credit memos can be linked to invoices to ensure that invoice and credit memos are due on the same date.

True

51. The day limits define the dates of the cash discount periods.False

52. Every installment of an installment plan must have its own terms of payment. True

53. Terms of payment is a field in the __________and __________segment of the customer master record.

Company code and Sale area

54. The __________is the date that the system uses to determine the due date of the invoice. Baseline date

55. Which cash discount accounts are used in the net procedure?Cash discount ________ account (loss)Cash discount ________ account (clearing)

56. Which cash discount accounts are used in the gross procedure? Cash discount ________ account (revenue)Cash discount ________ account (expense)

Page 6: SAP FI (End-Of-chapter Questions)

57. Name the two types of taxation that can be mapped in the SAP ERP system. Taxation at National levelTaxation at regional jurisdiction level

58. What data is required for the automatic account determination for tax amounts?RulesPosting KeyTax account

59. List two examples for cross company code transactions.Central PurchasingCentral Payment

60. A cross company code transaction involves at least two documents.True

61. Tax amounts of a cross-company code transaction are automatically distributed to the company codes in which the expenses/revenues occurred.

False

62. Cross-company code clearing accounts must be G/L accounts. False, it could be Customer/vendor accounts.

63. The company codes of a cross-company code transaction can have different local currencies. True

64. Describe the components the system uses to create the cross-company code transaction number.

Document number for the first company codeThe first Company Code number and Fiscal Year

65. Name the two basic transactions that you can use to clear open items. Post with clearingAccount clearing

66. Documents with open items cannot be archived because open items represent incomplete transactions.

True

67. The automatic clearing program (sapf124) cannot carry out automatic postings.False

Page 7: SAP FI (End-Of-chapter Questions)

68. Clearing a credit memo with an open invoice is an example of __________. Account clearing

69. Posting a payment for an open invoice with a resulting zero balance is an example of __________.

Post with clearing

70. A __________clears the invoice and the payment to create a new open item. Residual item

71. A __________results in the open invoice and the incoming payment remaining in the customer account as open items.

Partial payment

72. The SAP ERP system generates the exchange rate differences automatically. True

73. GL accounts must be defined for exchange rate losses or gains.True

74. List the four ways the GL account can be determined for exchange rate differences. A single gl account can be used for all currencies and currency types. A single gl account can be used per currency and currency type. A single gl account can be used per currency A single gl account can be used per currency type.

75. List the four steps in the payment programMaintain parametersProposal run Execute a payment runPrinting payment media

76. Name the five areas into which the payment program configuration is divided.All company codesPaying company codesPayment method/countryPayment method for company codeBank section

77. The __________ specify the accounts and documents that are to be included in the payment run.

Parameters

Page 8: SAP FI (End-Of-chapter Questions)

78. The payment program needs the __________to determine whether an open item has to be paid now or in the next payment run.

Next posting date

79. The sequence in which the payment methods are entered in the __________reflects their priority.

Payments parameters

80. All the company codes in the payment run parameters must be in the same country. True

81. A payment method can be used only if it is entered in the account master record.False

82. The payment proposal can be edited, deleted, and re-created as often as necessary. True

83. The exception list is part of the payment proposal. True

84. List the four steps that have to be taken by the dunning program to perform the automatic.Maintain parametersProposal runEdit the dunning proposalPrint the dunning notices

85. Customers without a dunning procedure in the master record are dunned using default dunning procedure.

False

86. It is possible to dun vendors as well as customers.True

87. The run date is always the date when a certain dunning run is supposed to be started.False

88. The parameters specify the accounts and documents that are to be included in the dunning run.

True

Page 9: SAP FI (End-Of-chapter Questions)

89. List some reasons why overdue items might not be dunned.Account is not contained in the parametersItems are within the grace period. Items or accounts are blocked for dunning. Items or accounts have a payment method for incoming payments but no payment block.

90. List the main steps involved in creating the dunning proposal.Account selection Line item dunning Account dunning

91. 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.

True

92. Every dunning procedure must have at least four dunning levels. False

93. An account is only dunned if all the overdue items have exceeded the minimum days in arrears.

False

94. The dunning run updates the dunning data in the dunned items and accounts. False, it updates when the dunning notices are printed.

95. A dunning notice is only sent if the dunning data has changed since the last dunning run or if “always dun?” is selected.

True

96. After the dunning proposal has been created, changes to the dunning data items or master records are ignored in the current dunning run.

True

97. The dunning proposal can be edited, deleted, and recreated as often as required. True

98. One dunning form can be used for all dunning levels. True

99. The dunning text for dunning level 3 is stored in text module 513.True

Page 10: SAP FI (End-Of-chapter Questions)

100. The last dunning level is equal to the legal dunning procedure. False

101. Name two ways of creating a check. Can you rename the check printing program?Manual check Automatic payment program

102. You can void a check without reversing the payment document. True

103. You can void a check and reverse the payment document at the same time. True

104. What is a lockbox?A lockbox is a service provided by banks to speed up the collection and processing of incoming payments. Customers send their payments and payment advice notes to the lockbox. The bank then provides you a data file containing the payer, payment amount, and (depending on the agreement with your bank) other details.

105. What are payment advice notes used for in the lockbox process in the sap system?A payment advice note contains detailed information on an incoming payment. It may include the following information: customer´s MICR number payment date, payment amounts/deductions per invoice, and reasons for deductions. The lockbox program uses the information in the payment advice note to clear open items on the customer´s account.

106. List the four statuses that a check can have.Assigned: the check has cleared all the specified documents. Partially assigned (BAI2 or ANSI x.12)On accountNot processed

107. You have to maintain customer bank details manually in the master record to ensure that as many incoming payments are assigned as possible.

False

108. The chart of depreciation is defined at client level? True

109. A country – specific sample chart of accounts supplied by sap cannot be adapted to your own requirements?

False

Page 11: SAP FI (End-Of-chapter Questions)

110. Various company codes can be assigned to the chart of depreciation?True

111. A document number is assigned based on the document type with the “hold document” function.

False

112. Which statements are correct? A- a company code can be assigned several workflow variants. B- a task can be assigned only one possible processor. C- it is possible to design multilevel workflow sequences. D- the same workflow variant can be assigned to several company codes.

C, D