sap financial-academy-sample-certification

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FINANCIAL ACADEMYCertification

Workshop –

PRACTICE TEST



SAP Certification

How can you tell which client you are working in?

1. Check the configuration menu.

2. Check the help menu.

3. Choose “Status” in the system menu.

4. Choose “Create session” in the System menu.

X



SAP Certification

You call up a transaction using the menu. How and where can you check

the corresponding transaction code without leaving the transaction?

1. This is not possible.

2. The transaction code name can be displayed in the lower right handcorner window.

3. When you enter “?” in the command field, the transaction code

name appears there.

4. Choose “System > Status”. The system displays a separate

window which contains among other things, the transaction code.

5. Choose “Extras > Settings > Display Technical Names” to

show the transaction code in the R/3 menu.

X

X



SAP Certification

Information is a key resource for an integrated company. Which of the following

Statements represent information flows within a company?

1. Planning information

2. Market information

3. External information

4. Business planning information

5. Material flows

X

X

X



SAP Certification

1. Tables or data which is accessed during the log on process refers

to “Client dependent” data or tables.

2. One of the key considerations for determining if only one

client should be used, is the amount of data sharing.

3. Certain core organizational elements are used by all modules.

4. The term “Client independent” refers to data that affects only one

client.

X

X

X

Which of the following are true?



SAP Certification

Which of the following statements are correct?

1. All data and programs in the SAP R/3 system are stored in

the database.

2. A BAPI is basically an entry gate to the R/3 programs

3. Application Link Enabling is used to interface with MS Office

applications.

4. EDI Electronic Data Interchange is carried out using Idocs

(intermediate documents)

5. The ALE Application Link Enabling supports the implementation

and operation of distributed SAP applications.

X

X

X



SAP Certification

Which of the following statements are correct.

1. The SAP Reference IMG contains only the customizing activities

for the modules a company is going to implement.

2. The SAP Reference IMG contains all of the customizing activities

for all applications.

3. A company organizational structure must be set up in the IMG

before you can create any master data.

4. A transaction is a series of on-line steps where the screen selected

and formatted is influenced by the previous choice.

X

X

X



SAP CertificationTrue or False

1. A client is a self contained unit within SAP with it’s own set

of tables, master data, and authorization profiles.

2. When someone defines 3 tiered architecture, they mean that

the presentation server and data base server are separate from

the application server.

3. A mini app is a program that pushes a website or ALV type

report to your workplace desktop in the mySAP.com environment

4. A user can set for their logon, the date format, decimal format,

Time zone and default printer.

5. Solution Manager is a five (5) stage work package process used for

implementing SAP.

True

False

True

True

True



SAP Certification


1. SAP CRM (Customer Relationship Management) focuses on

effectively managing customer relationships throughout the

entire lifecycle.

2. SAP SCM (Supply Chain Management) can be used to manage acompanies revenue planning.

3. The SAP Business to Business Procurement is a full-cycle,

inter-enterprise procurement that covers all processes from

creating the purchase requisition to payment of the vendor invoice.

4. The SAP Business Warehouse is used for Logistics reporting only.

X

X



SAP Certification


1. A document is evidence of a completed business transaction

2. The highest-level organizational unit in the R/3 system is the

Company code

3. A customer master record is assigned to a company code, sales

organization, distribution channel and plant

4. Master data is used long-term in the R/3 system for several

Business processes.

X

X



SAP Certification

True or False

1. Output is any type of communication such as fax, Email, or

printout.

2. When a report is executed current data is processed online.

3. Selection data for frequently run reports is defined in the

report layout

4. Online transaction processing can update a logistics information

structure.

5. LIS includes the Financial Information Systems reporting system.

X

X

X



Financial Questions

Question 1

Which of the following is true for Organizational Structures. More than one answer is correct.

Answer 1:

A client my contain more than one company code. True False

Answer 2:

A company code can be assigned to an Operating Concern. True False

Answer 3:

More than one company code may be assigned to a controlling area. True False

Answer 4:

Sales Organizations are assigned to a Controlling Area. True False



Financial Questions

Question 1

Which of the following is true for Organizational Structures. More than one answer is correct.

Answer 1: Correct

A client my contain more than one company code.

Answer 2: Incorrect

A company code can be assigned to an Operating Concern.

Answer 3: Correct

More than one company code may be assigned to a controlling area.

Answer 4: Incorrect

Sales Organizations are assigned to a Controlling Area.



Financial Questions

Question 2

Select the correct answers. Only one answer is correct.

Answer 1:

A business area is assigned to a company code.

Answer 2:

A company code may be assigned to multiple credit control areas.

Answer 3:

A company code may have more than one chart of accounts.

Answer 4:

A plant can be assigned to more than one company code.



Financial Questions

Question 2

Select the correct answers. Only one answer is correct.

Answer 1: Incorrect

A business area is assigned to a company code.

Answer 2: Incorrect

A company code may be assigned to multiple credit control areas.

Answer 3: Correct

A company code may have more than one chart of accounts.

Answer 4: Incorrect

A plant can be assigned to more than one company code.



Financial Questions

Question 3

Which of the following is true about Chart(s) of Accounts. More than one answer is correct.

Answer 1:

A country chart of accounts can be assigned to the company code. True False

Answer 2:

A group chart of accounts can be used for consolidation reporting. True False

Answer 3:

The country chart of accounts is assigned to the controlling area. True False

Answer 4:

A chart of accounts is made up of Chart of accounts Level and Company Code level data

True False



Financial Questions

Question 3

Which of the following is true about Chart(s) of Accounts. More than one answer is correct.

Answer 1: Correct

A country chart of accounts can be assigned to the company code.

Answer 2: Correct

A group chart of accounts can be used for consolidation reporting.

Answer 3: Incorrect

The country chart of accounts is assigned to the controlling area.

Answer 4: Correct

A chart of accounts is made up of Chart of accounts Level and Company Code level data



Financial Questions

Question 4


More than one answer is correct.

Answer 1:

Profit centers must be assigned to a standard hierarchy . True False

Answer 2:

A profit center is always determined for a posting based on a cost element.

True False

Answer 3:

A profit center can only be attached to one company code. True False

Answer 4:

Profit Centers will not create line items for allocations between cost centers and orders.

True False



Financial Questions

Question 4



Answer 1: Correct

Profit centers must be assigned to a standard hierarchy .

Answer 2: Incorrect

A profit center is always determined for a posting based on a cost element.

Answer 3: Incorrect

A profit center can only be attached to one company code.

Answer 4: Incorrect

Profit Centers will not create line items for allocations between cost centers and orders.



Financial Questions

Question 5

Which of the following is true about Functional Areas?

Only one answer is Correct.

Answer 1:

Functional Areas aid in the reporting of Profit & Loss Statements, in that it gives a

Cost of Sales Approach. True False

Answer 2:

Functional Areas are used for one level lower than company code reporting.

True False

Answer 3:

Functional Areas can be used in lieu of Cost Centers. True False

Answer 4:

Functional Areas are always defaulted from the GL Master Record. True False



Financial Questions

Question 5

Which of the following is true about a Functional Areas.

Only one answer is Correct.

Answer 1: Correct

Functional Areas aid in the reporting of Profit & Loss Statements, in that it gives a

Cost of Sales Approach.

Answer 2: Incorrect

Functional Areas are used for one level lower than company code reporting.

Answer 3: Incorrect

Functional Areas can be used in lieu of Cost Centers.

Answer 4: Incorrect

Functional Areas are always defaulted from the GL Master Record.



Financial Questions

Question 6

Which of the following is true about Schedule Manager


Answer 1:

A note task can be scheduled. True False

Answer 2:

All Schedule Manager workflows can utilize worklist functionality. True False

Answer 3:

Worklists choose objects only once and processes them completely. True False

Answer 4:

The Monitor can only be accessed from Schedule Manager directly. True False



Financial Questions

Question 6

Which of the following is true about Schedule Manager


Answer 1: False

A note task can be scheduled.

Answer 2: False

All Schedule Manager workflows can utilize worklist functionality.

Answer 3: True

Worklists choose objects only once and processes them completely.

Answer 4: False

The Monitor can only be accessed from Schedule Manager directly.



Financial Questions

Question 7

Which of the following is true about a General Ledger Master Record.


Answer 1:

A GL master records has two levels, Chart of Accounts & Company Code.

True False

Answer 2:

A GL master record requires an Account Group. True False

Answer 3:

A GL master record can be created using a reference. True False

Answer 4:

A GL master record requires a Field Status Group. True False



Financial Questions

Question 7

Which of the following is true about a General Ledger Master Record.


Answer 1: Correct

A GL master records has two levels, Chart of Accounts & Company Code.

Answer 2: Correct

A GL master record requires an Account Group.

Answer 3: Correct

A GL master record can be created using a reference.

Answer 4: Correct

A GL master record requires a Field Status Group.



Financial Questions

Question 8

Which of the following is true about a Reconciliation Account.


Answer 1:

They are valid GL Master Records. True False

Answer 2:

A Reconciliation Account indicator is required, and it tells the system whether it

Will be applicable to Customers, Vendors or Assets. True False

Answer 3:

Reconciliation Accounts are NEVER handled as Open item managed. True False

Answer 4:

Reconciliation Accounts are ALWAYS created with Line Item Display. True False



Financial Questions

Question 8

Which of the following is true about a Reconciliation Account.


Answer 1: Correct

They are valid GL Master Records.

Answer 2: Correct

A Reconciliation Account indicator is required, and it tells the system whether it

Will be applicable to Customers, Vendors or Assets.

Answer 3: Correct

Reconciliation Accounts are NEVER handled as Open item managed.

Answer 4: Incorrect

Reconciliation Accounts are ALWAYS created with Line Item Display.



Financial Questions

Question 9

After the creation of a new GL Master record what else can be done?


Answer 1:

The General Ledger account can be added to a Financial Statement Version.

True False

Answer 2:

General Ledger Accounts can now be added to “SETS”. True False

Answer 3:

Edit the Cost Element is allowed for Balance Sheet accounts. True False

Answer 4:

Viewing the Company Code data level can be done. True False



Financial Questions

Question 9

After the creation of a new GL Master record what else can be done?


Answer 1: Correct

The General Ledger account can be added to a Financial Statement Version.

Answer 2: Correct

General Ledger Accounts can now be added to “SETS”.

Answer 3: Incorrect

Edit the Cost Element is allowed for Balance Sheet accounts.

Answer 4: Correct

Viewing the Company Code data level can be done.



Financial Questions

Question 10

Which of the following is correct regarding GL Master Records.


Answer 1:

The General Ledger account can now be assigned a Tolerance Group. True False

Answer 2:

“Key” words can be put into a GL Master Record, to enable quicker searches.

True False

Answer 3:

Indicators to say “post automatically” only on a GL Master Record can be done.

True False Answer 4:

The currency field is a required entry on the General Ledger Master Record.

True False



Financial Questions

Question 10

Which of the following is correct regarding GL Master Records.


Answer 1: Correct

The General Ledger account can now be assigned a Tolerance Group.

Answer 2: Correct

“Key” words can be put into a GL Master Record, to enable quicker searches.

Answer 3: Correct

Indicators to say “post automatically” only on a GL Master Record can be done.

Answer 4: Correct

The currency field is a required entry on the General Ledger Master Record.



Financial Questions

Question 11

Which of the following is correct regarding Account Groups for Customers & Vendors


Answer 1:

An Account Group determines the number range for the Master Record. True False

Answer 2:

An Account Group says whether or not it will be a One-Time Vendor/Customer.

True False

Answer 3:

An Account Group provides the Field status definition for the fields in the Master Record.


An Account Group is not a required field when creating a vendor or customer master record.

True False



Financial Questions

Question 11

Which of the following is correct regarding Account Groups for Customers & Vendors


Answer 1: Correct

An Account Group determines the number range for the Master Record.

Answer 2: Correct

An Account Group says whether or not it will be a One-Time Vendor/Customer.

Answer 3: Correct

An Account Group provides the Field status definition for the fields in the Master Record.

Answer 4: Incorrect

An Account Group is not a required field when creating a vendor or customer master record.



Financial Questions

Question 12

What are the three levels of a Customer Master Record?


Answer 1:

Sales Area Data True False

Answer 2:

Client / General Data True False

Answer 3:

Company Code Data True False

Answer 4:

Plant Data True False



Financial Questions

Question 12

What are the three levels of a Customer Master Record?


Answer 1: Correct

Sales Area Data

Answer 2: Correct

Client / General Data

Answer 3: Correct

Company Code Data

Answer 4: Incorrect

Plant Data



Financial Questions

Question 13

Which is true regarding Special G/L transactions?


Answer 1:

Post to the same reconciliation accounts as the customer or vendor being posted

True False

Answer 2:

Are always statistical postings True False

Answer 3:

Are used for down payments True False

Answer 4:

Utilize specific posting keys for posting True False



Financial Questions

Question 13

Which is true regarding Special G/L transactions?


Answer 1: Incorrect

Post to the same reconciliation accounts as the customer or vendor being posted

Answer 2: Incorrect

Are always statistical postings

Answer 3: Correct

Are used for down payments

Answer 4: Correct

Utilize specific posting keys for posting



Financial Questions

Question 14

Control settings in Chart of Accounts configuration include?


Answer 1:

Length of the G/L account number. True False

Answer 2:

Screen layout settings for the G/L master record. True False

Answer 3:

Attachment to a group chart of accounts. True False

Answer 4:

Integration settings with Controlling. True False



Financial Questions

Question 14

Control settings in Chart of Accounts configuration include?


Answer 1: Correct

Length of the G/L account number.

Answer 2: Incorrect

Screen layout settings for the G/L master record.

Answer 3: Correct

Attachment to a group chart of accounts.

Answer 4: Correct

Integration settings with Controlling.



Financial Questions

Question 15

Which of the following is correct regarding Bank Master Data.


Answer 1:

A House Bank is where your enterprise holds bank accounts.

True False

Answer 2:

Each House Bank requires a General Ledger Account to be identified with it.

True False

Answer 3:

Assignment of a particular House bank at a Customer / Vendor Master Record level can be done.


House banks are not used by the Payment Program. True False



Financial Questions

Question 15

Which of the following is correct regarding Bank Master Data.


Answer 1: Correct

A House Bank is where your enterprise holds bank accounts.

Answer 2: Correct

Each House Bank requires a General Ledger Account to be identified with it.

Answer 3: Correct

Assignment of a particular House bank at a Customer / Vendor Master Record level can be done.

Answer 4: Incorrect

House banks are not used by the Payment Program.



Financial Questions

Question 16

Which of the following is true about currencies?


Answer 1:

Partner currencies can only be translated in one exchange rate type. True False

Answer 2:

Partner currencies can have a direct or indirect relationship. True False

Answer 3:

Can have only one valid date per currency combination. True False

Answer 4:

Can only be maintained by direct data entry. True False



Financial Questions

Question 16

Which of the following is true about currencies?


Answer 1: Incorrect

Partner currencies can only be translated in one exchange rate type.

Answer 2: Correct

Partner currencies can have a direct or indirect relationship.

Answer 3: Incorrect

Can have only one valid date per currency combination.

Answer 4: Incorrect

Can only be maintained by direct data entry.



Financial Questions

Question 17

What is correct regarding interest?


Answer 1:

Entry of interest indicator into master record is optional for balance interest

True False

Answer 2:

Balance is a type of interest True False

Answer 3:

In arrears interest is not supported True False

Answer 4:

Reference interest rates are not required True False



Financial Questions

Question 17

What is correct regarding interest?


Answer 1: Incorrect

Entry of interest indicator into master record is optional for balance interest

Answer 2: Correct

Balance is a type of interest

Answer 3: Incorrect

In arrears interest is not supported

Answer 4: Correct

Reference interest rates are not required



Financial Questions

Question 18

Derivation of the Functional Area can be made by:


Answer 1:

Manual Entry True False

Answer 2:

Substitutions True False

Answer 3:

Master record of the balance sheet account True False

Answer 4:

Master record of the CO object True False



Financial Questions

Question 18

Derivation of the Functional Area can be made by:


Answer 1: Correct

Manual Entry

Answer 2: Correct

Substitutions

Answer 3: Incorrect

Master record of the balance sheet account

Answer 4: Correct

Master record of the CO object



Financial Questions

Question 19

Which of the following are known Field Status Definitions in SAP.


Answer 1:

Suppressed True False

Answer 2:

Display True False

Answer 3:

Required True False

Answer 4:

Optional True False



Financial Questions

Question 19

Which of the following are known Field Status Definitions in SAP.


Answer 1: Correct

Suppressed

Answer 2: Correct

Display

Answer 3: Correct

Required

Answer 4: Correct

Optional



Financial Questions

Question 20

Negative posting requires what 3 settings to be set up?

Only one answer is correct

Answer 1:

Settings in Company Code, Reversal reason, posting key

Answer 2:

Settings in Company Code, functional area, reversal reason

Answer 3:

Settings in Company Code, business area, Reversal reason

Answer 4:

Settings in Company Code, Reversal reason, document type



Financial Questions

Question 20

Negative posting requires what 3 settings to be set up?


Answer 1: Incorrect

Settings in Company Code, Reversal reason, posting key

Answer 2: Incorrect

Settings in Company Code, functional area, reversal reason

Answer 3: Incorrect

Settings in Company Code, business area, Reversal reason

Answer 4: Correct

Settings in Company Code, Reversal reason, document type



Financial Questions

Question 21

Which of the following is true for a Document in finance.

More than one answer is correct

Answer 1:

All documents must be parked, prior to posting. True False

Answer 2:

Is identified by document number, company code, and business area. True False

Answer 3:

Minimum line items is 2, Maximum line items is 999 True False

Answer 4:

Documents can be used for an Audit Trail. True False



Financial Questions

Question 21

Which of the following is true for a Document in finance.


Answer 1: Incorrect

All documents must be parked, prior to posting.

Answer 2: Incorrect

Is identified by document number, company code, and business area.

Answer 3: Correct

Minimum line items is 2, Maximum line items is 999

Answer 4: Correct

Documents can be used for an Audit Trail.



Financial Questions

Question 22

Which of the following is true for a Document Type in finance.


Answer 1:

Document types provides documents with their number range. True False

Answer 2:

Document Types can be configured for certain Account types only. True False

Answer 3:

Additional Field Status for the Reference and Text Fields can be by Document Type.True False

Answer 4:

Document types tell the system whether it is a credit or a debit. True False



Financial Questions

Question 22

Which of the following is true for a Document Type in finance.


Answer 1: Correct

Document types provides documents with their number range.

Answer 2: Correct

Document Types can be configured for certain Account types only.

Answer 3: Correct

Additional Field Status for the Reference and Text Fields can be by Document Type.

Answer 4: Incorrect

Document types tell the system whether it is a credit or a debit.



Financial Questions

Question 23

Which of the following is true for a Posting Key in finance.


Answer 1:

Multiple Account types can use an individual Posting Key. True False

Answer 2:

Posting Keys can be used for Additional Field Status, in conjunction with the GL Account.

True False

Answer 3:

Posting Keys are not required for Enjoy screen transactions. True False

Answer 4:

Posting Keys tell the system whether it is a credit or a debit. True False



Financial Questions

Question 23

Which of the following is true for a Posting Key in finance.


Answer 1: Incorrect

Multiple Account types can use an individual Posting Key.

Answer 2: Correct

Posting Keys can be used for Additional Field Status, in conjunction with the GL Account.

Answer 3: Incorrect

Posting Keys are not required for Enjoy screen transactions.

Answer 4: Correct

Posting Keys tell the system whether it is a credit or a debit.



Financial Questions

Question 24

Which of the following does a Posting Period Variant do in Finance?


Answer 1:

Tells which account groups can be used for master records. True False

Answer 2:

Test only at the header level, where posting dates are found. True False

Answer 3:

Tells the system which Account types are open. True False

Answer 4:

Allows Opening & Closing Posting Periods for multiple Company Codes at one time.

True False



Financial Questions

Question 24

Which of the following does a Posting Period Variant do in Finance?

More then one answer is correct

Answer 1: Incorrect

Tells which account groups can be used for master records.

Answer 2: Incorrect

Test only at the header level of a document, where posting dates are found.

Answer 3: Correct

Tells the system which Account types are open.

Answer 4: Correct




Financial Questions

Question 25

Which of the following does a Field Status Variant do in Finance?


Answer 1:


Answer 2:

Groups together all Field Status Groups.

Answer 3:


Answer 4:




Financial Questions

Question 25

Which of the following does a Field Status Variant do in Finance?


Answer 1: Incorrect


Answer 2: Correct

Groups together all Field Status Groups.

Answer 3: Incorrect


Answer 4: Incorrect




Financial Questions

Question 26

Which of the following statements are true regarding a Fiscal Year Variant.


Answer 1:

Shortened Fiscal Years are not allowed. True False

Answer 2:

A Fiscal Year Variant can be Calendar Dependent or Calendar Independent.

True False

Answer 3:

Non-calendar Fiscal Year Variants are not allowed in SAP. True False

Answer 4:

Fiscal Year Variants are assigned to a Company code. True False



Financial Questions

Question 26

Which of the following statements are true regarding a Fiscal Year Variant.


Answer 1: Incorrect

Shortened Fiscal Years are not allowed.

Answer 2: Correct

A Fiscal Year Variant can be Calendar Dependent or Calendar Independent.

Answer 3: Incorrect

Non-calendar Fiscal Year Variants are not allowed in SAP.

Answer 4: Correct

Fiscal Year Variants are assigned to a Company code.



Financial Questions

Question 27

Which of the following statements are correct regarding Tolerances.


Answer 1:

Tolerances cannot be assigned to employees. True False

Answer 2:

Tolerances can be assigned to Customers. True False

Answer 3:

Tolerances can be assigned to Vendors. True False

Answer 4:

A blank tolerance is a valid tolerance. True False



Financial Questions

Question 27

Which of the following statements are correct regarding Tolerances.


Answer 1: Incorrect

Tolerances cannot be assigned to employees.

Answer 2: Correct

Tolerances can be assigned to Customers.

Answer 3: Correct

Tolerances can be assigned to Vendors.

Answer 4: Correct

A blank tolerance is a valid tolerance.



Financial Questions

Question 28

Which of the following statements are correct regarding Payment Terms.


Answer 1:

Creation of Installment Payment Terms is allowed. True False

Answer 2:

Payment Terms can be for both Customers & Vendors. True False

Answer 3:

Defaults in the Payment terms set the Baseline Date. True False

Answer 4:

Payment terms cannot be blocked. True False



Financial Questions

Question 28

Which of the following statements are correct regarding Payment Terms.


Answer 1: Correct

Creation of Installment Payment Terms is allowed.

Answer 2: Correct

Payment Terms can be for both Customers & Vendors.

Answer 3: Correct

Defaults in the Payment terms set the Baseline Date.

Answer 4: Incorrect

Payment terms cannot be blocked.



Financial Questions

Question 29

Which of the following statements are correct regarding handling Payment Differences.


Answer 1:

Payment Differences are always applied directly onto the account. True False

Answer 2:

Reason codes can be used to handle payment differences. True False

Answer 3:

Small payment differences can be automatically handled by tolerances. True False

Answer 4:

Payment differences should be treated as Residual Items. True False



Financial Questions

Question 29

Which of the following statements are correct regarding handling Payment Differences.


Answer 1: Incorrect

Payment Differences are always applied directly onto the account.

Answer 2: Correct

Reason codes can be used to handle payment differences.

Answer 3: Correct

Small payment differences can be automatically handled by tolerances.

Answer 4: Incorrect

Payment differences should be treated as Residual Items.



Financial Questions

Question 30

Which of the following statements are correct regarding reason codes used for Payment Differences. More than one answer is correct

Answer 1:

Reason Codes for Charge offs are always applied to the same account. True False

Answer 2:

Reason Codes for Disputes create a new open item on the Customer’s Account.

True False

Answer 3:

Reason codes to charge off the payment difference, require assignment of the

Account to post to. True False

Answer 4:

When defining reason codes, also assign the Correspondence type that will be sent out.

True False



Financial Questions

Question 30

Which of the following statements are correct regarding reason codes used for Payment Differences. More than one answer is correct

Answer 1: Incorrect

Reason Codes for Charge offs are always applied to the same account.

Answer 2: Correct

Reason Codes for Disputes create a new open item on the Customer’s Account.

Answer 3: Correct

Reason codes to charge off the payment difference, require assignment of the

Account to post to.

Answer 4: Correct

When defining reason codes, also assign the Correspondence type that will be sent out.



Financial Questions

Question 31

What are the different Charts of Accounts that can be posted to?


Answer 1:

Operating Chart of Accounts True False

Answer 2:

Legacy Chart of Accounts True False

Answer 3:

Country Specific Chart of Accounts True False

Answer 4:

Group Chart of Accounts True False



Financial Questions

Question 31

What are the different Charts of Accounts that can be posted to?


Answer 1: Correct

Operating Chart of Accounts

Answer 2: Incorrect

Legacy Chart of Accounts

Answer 3: Correct

Country Specific Chart of Accounts

Answer 4: Correct

Group Chart of Accounts



Financial Questions

Question 32

Statuses in lockbox processing supported by SAP include:


Answer 1:

Applied True False

Answer 2:

Partially applied True False

Answer 3:

On Account True False

Answer 4:

Unprocessed True False



Financial Questions

Question 32

Statuses in lockbox processing supported by SAP include:


Answer 1: Correct

Applied

Answer 2: Correct

Partially applied

Answer 3: Correct

On Account

Answer 4: Correct

Unprocessed



Financial Questions

Question 33

Reposting of costs, revenues, and line items are supported by what CO applications?


Answer 1:

Cost Centers True False

Answer 2:

Profit Centers True False

Answer 3:

Internal Orders True False

Answer 4:

Activities True False



Financial Questions

Question 33

Reposting of costs, revenues, and line items are supported by what CO applications?


Answer 1: Correct

Cost Centers

Answer 2: Incorrect

Profit Centers

Answer 3: Correct

Internal Orders

Answer 4: Incorrect

Activities



Financial Questions

Question 34

Which of the following is correct for parked documents.


Answer 1:

Parked documents can be viewed online. True False

Answer 2:

Parked documents have document numbers assigned by the system. True False

Answer 3:

Parked documents cannot be used in Workflow. True False

Answer 4:

Parked documents always have to balance. True False



Financial Questions

Question 34

Which of the following is correct for parked documents.


Answer 1: Correct

Parked documents can be viewed online.

Answer 2: Correct

Parked documents have document numbers assigned by the system.

Answer 3: Incorrect

Parked documents cannot be used in Workflow.

Answer 4: Incorrect

Parked documents always have to balance.



Financial Questions

Question 35

Which of the following is correct for held documents.


Answer 1:

Held documents can be viewed on line item display. True False

Answer 2:

Held documents have document numbers assigned by the system. True False

Answer 3:

Held documents sit on the “tree” or worklist to be further processed. True False

Answer 4:

Held documents do not always have to balance. True False



Financial Questions

Question 35

Which of the following is correct for held documents.


Answer 1: Incorrect

Held documents can be viewed on line item display.

Answer 2: Incorrect

Held documents have document numbers assigned by the system.

Answer 3: Correct

Held documents sit on the “tree” or worklist to be further processed.

Answer 4: Correct

Held documents do not always have to balance.



Financial Questions

Question 36

Which of the following statements are correct for Special GL Postings.More than one answer is correct

Answer 1:

Special GL postings only post to Special Purpose Ledger. True False

Answer 2:

Special GL Indicators tell the system to bypass the Reconciliation Account

in the Customer or Vendor master record. True False

Answer 3:

Can be used to make individual value adjustments. True False

Answer 4:

A Down Payment is usually posted using a Special GL. True False



Financial Questions

Question 36

Which of the following statements are correct for Special GL Postings.More than one answer is correct

Answer 1: Incorrect

Special GL postings only post to Special Purpose Ledger.

Answer 2: Correct

Special GL Indicators tell the system to bypass the Reconciliation Account

In the Customer or Vendor master record.

Answer 3: Correct

Can be used to make individual value adjustments.

Answer 4: Correct

A Down Payment is usually posted using a Special GL.



Financial Questions

Question 37

Which are the known types of Special GL Postings. More than one answer is correct

Answer 1:

Unrealized Losses or Gains in Foreign Currencies. True False

Answer 2:Noted Items – not intended to be displayed in the GL, reminders of outstanding payments

Due or to be made. True False

Answer 3:

Free Offsetting Entry True False

Answer 4:

Statistical Postings True False



Financial Questions

Question 37

Which are the known types of Special GL Postings. More than one answer is correct

Answer 1: Incorrect

Unrealized Losses or Gains in Foreign Currencies.

Answer 2: Correct

Noted Items – not intended to be displayed in the GL, reminders of outstanding payments

Due or to be made.

Answer 3: Correct

Free Offsetting Entry

Answer 4: Correct

Statistical Postings



Financial Questions

Question 38

Which of the following statements is true about Tolerance Groups.


Answer 1:

Entries in Tolerance Groups are always in Local Currency True False

Answer 2:

Tolerance groups control permitted payment differences. True False

Answer 3:

Tolerance groups aid in clearing procedures True False

Answer 4:

Tolerance groups cannot be modified. True False



Financial Questions

Question 38

Which of the following statements is true about Tolerance Groups.


Answer 1: Correct

Entries in Tolerance Groups are always in Local Currency

Answer 2: Correct

Tolerance groups control permitted payment differences.

Answer 3: Correct

Tolerance groups aid in clearing procedures

Answer 4: Incorrect

Tolerance groups cannot be modified.



Financial Questions

Question 39

Which of the following are the two basic transactions used to clear Open Items.


Answer 1:

Repostings True False

Answer 2:

Posting with Clearing True False

Answer 3:

Account Clearing True False

Answer 4:

Negative Postings True False



Financial Questions

Question 39

Which of the following are the two basic transactions used to clear Open Items.


Answer 1: Incorrect

Repostings

Answer 2: Correct

Posting with Clearing

Answer 3: Correct

Account Clearing

Answer 4: Incorrect

Negative Postings



Financial Questions

Question 40

What populates the Assignment Field?


Answer 1:

Trading Partner

Answer 2:

Baseline date

Answer 3:

GL master record

Answer 4:

Sort Key



Financial Questions

Question 40

What populates the Assignment Field?


Answer 1: Incorrect

Trading Partner

Answer 2: Incorrect

Baseline date

Answer 3: Incorrect

GL master record

Answer 4: Correct

Sort Key



Financial Questions

Question 41

Pre-Closing Activities that are done in the old month include:More than one answer is correct

Answer 1:

CO-Reconciliation posting to FI. True False

Answer 2:

Enter Accruals / Deferrals True False

Answer 3:

Maintain GR/IR clearing account True False

Answer 4:

Close old month (MM) close sub ledgers (FI), preliminary close of GL (FI) True False



Financial Questions

Question 41

Pre-Closing Activities that are done in the old month include:More than one answer is correct

Answer 1: Incorrect

CO-Reconciliation posting to FI.

Answer 2: Correct

Enter Accruals / Deferrals

Answer 3: Correct

Maintain GR/IR clearing account

Answer 4: Correct

Close old month (MM) close sub ledgers (FI), preliminary close of GL (FI)



Financial Questions

Question 42

Internal Close Activities that are done in the CO module include:More than one answer is correct

Answer 1:

Allocations True False

Answer 2:


Answer 3:

Settlements True False

Answer 4:

Locking the old posting period True False



Financial Questions

Question 42

Internal Close Activities that are done in the CO module include:More than one answer is correct

Answer 1: Correct

Allocations

Answer 2: Correct

Repostings

Answer 3: Correct

Settlements

Answer 4: Correct

Locking the old posting period



Financial Questions

Question 43

Asset Accounting requires an extra step at year end for closing:Only one answer is correct

Answer 1:

Fiscal Year Change

Answer 2:

Revaluation of Inventory

Answer 3:

Issue new Asset Classes for the new year

Answer 4:

Recalculation of all Depreciation areas.



Financial Questions

Question 43

Asset Accounting requires an extra step at year end for closing:Only one answer is correct

Answer 1: Correct

Fiscal Year Change

Answer 2: Incorrect

Revaluation of Inventory

Answer 3: Incorrect

Issue new Asset Classes for the new year

Answer 4: Incorrect

Recalculation of all Depreciation areas.



Financial Questions

Question 44

When creating Standard Financial Statement reports, you can create different outputs bySpecifying different:


Answer 1:

Fiscal Year Variants

Answer 2:

Financial statement versions

Answer 3:

Variations

Answer 4:

Report Groups



Financial Questions

Question 44

When creating Standard Financial Statement reports, you can create different outputs bySpecifying different:


Answer 1: Incorrect

Fiscal Year Variants

Answer 2: Correct

Financial statement versions

Answer 3: Incorrect

Variations

Answer 4: Incorrect

Report Groups



Financial Questions

Question 45

Which of the following statements are true with respect to Financial statement versions:More than one answer is correct

Answer 1:

The totals to be displayed are configured in the version. True False

Answer 2:

The Chart of Accounts are configured in the version. True False

Answer 3:

Specification of Text to describe the Items in the Financial Statement Version is not supported.

True False

Answer 4:

Multiple Financial Statement Versions can be defined as needed. True False



Financial Questions

Question 45

Which of the following statements are true with respect to Financial statement versions:More than one answer is correct

Answer 1: Correct

The totals to be displayed are configured in the version.

Answer 2: Correct

The Chart of Accounts are configured in the version.

Answer 3: Incorrect

Specification of Text to describe the Items in the Financial Statement Version is not supported.

Answer 4: Correct

Multiple Financial Statement Versions can be defined as needed.



Financial Questions

Question 46

Which of the following are Asset Accounting activities relevant to closing:More than one answer is correct

Answer 1:

Depreciation Postings True False

Answer 2:

Replacement Values & Insurable Values are updated in the system with the help of Index series.

True False

Answer 3:

Running Asset History Sheets True False

Answer 4:

Handling Investment Grants True False



Financial Questions

Question 46

Which of the following are Asset Accounting activities relevant to closing:More than one answer is correct

Answer 1: Correct

Depreciation Postings

Answer 2: Correct

Replacement Values & Insurable Values are updated in the system with the help of Index series.

Answer 3: Correct

Running Asset History Sheets

Answer 4: Correct

Handling Investment Grants



Financial Questions

Question 47

What makes up the components for a standard 3-way match up for the GR/IR postings:More than one answer is correct

Answer 1:

Creation of a Purchase Order True False

Answer 2:

Goods Receipt True False

Answer 3:

Invoice Receipt True False

Answer 4:

Quality management receipts True False



Financial Questions

Question 47

What makes up the components for a standard 3-way match up for the GR/IR postings:More than one answer is correct

Answer 1: Correct

Creation of a Purchase Order

Answer 2: Correct

Goods Receipt

Answer 3: Correct

Invoice Receipt

Answer 4: Incorrect

Quality management receipts



Financial Questions

Question 48

Adjustment postings to the GR/IR clearing account are made for goods:More than one answer is correct

Answer 1:

That were delivered by the key date, but have not yet been invoiced. True False

Answer 2:

That cannot be found on Inventory Counts True False

Answer 3:

That have relevancy to back flushing. True False

Answer 4:

That were invoiced by the key date, but have not yet been delivered. True False



Financial Questions

Question 48

Adjustment postings to the GR/IR clearing account are made for goods:More than one answer is correct

Answer 1: Correct

That were delivered by the key date, but have not yet been invoiced.

Answer 2: Incorrect

That cannot be found on Inventory Counts

Answer 3: Incorrect

That have relevancy to back flushing.

Answer 4: Correct

That were invoiced by the key date, but have not yet been delivered.



Financial Questions

Question 49

Which of the following Physical Inventory procedures does the SAP system support:More than one answer is correct

Answer 1:

Cycle Counting Method True False

Answer 2:

Periodic Inventory Method True False

Answer 3:

Tally totaling True False

Answer 4:

Continuous Inventory Method True False



Financial Questions

Question 49

Which of the following Physical Inventory procedures does the SAP system support:More than one answer is correct

Answer 1: Correct

Cycle Counting Method

Answer 2: Correct

Periodic Inventory Method

Answer 3: Incorrect

Tally totaling

Answer 4: Correct

Continuous Inventory Method



Financial Questions

Question 50

Value Adjustments can be made for Overdue Receivables, which of the following statementsAre correct as it pertains to value adjustments.


Answer 1: Correct

Keys defining the overdue time period in days, and the percentage rate must be defined.

Answer 2: Correct

The key must be put in the Customer Master Record

Answer 3: Correct

Appropriate bad debt expense & adjustment accounts must be defined.

Answer 4: Incorrect

Only Special GL postings can be used for this type of adjustment.



Financial Questions

Question 51

Foreign Currency Valuation require Configuration of which of the following:More than one answer is correct

Answer 1:

Currency Exchange Rate Types must be defined. True False

Answer 2:

Define your Valuation Methods. True False

Answer 3:

Revenue & Expense accounts do not need to be defined. True False

Answer 4:

Balance sheet Adjustment accounts must be defined for AP & AR True False



Financial Questions

Question 52

The following use primary cost elements for allocations.More than one answer is correct

Answer 1:

Activity allocations True False

Answer 2:

Reposting True False

Answer 3:

Assessments True False

Answer 4:

Distributions True False



Financial Questions

Question 52

The following use primary cost elements for allocations.More than one answer is correct

Answer 1: Incorrect

Activity allocations

Answer 2: Correct

Reposting

Answer 3: Incorrect

Assessments

Answer 4: Correct

Distributions

Financial Questions



Question 53

Which of the following leave the primary cost element intact in allocationsMore than one answer is correct

Answer 1:


Answer 2:Assessments True False

Answer 3:

Distributions True False

Answer 4:


True False

Financial Questions



Question 53

Which of the following leave the primary cost element intact in allocationsMore than one answer is correct

Answer 1: Incorrect

Repostings

Answer 2: Correct Assessments

Answer 3: Correct

Distributions

Answer 4: Correct


Financial Questions



Question 54

The following allows for more detailed control of order settlementMore than one answer is correct

Answer 1:

User status True False

Answer 2:

Source structure True False

Answer 3:

Order type True False

Answer 4:

Allocation structure True False

Financial Questions



Question 54

The following allows for more detailed control of order settlementMore than one answer is correct

Answer 1: Incorrect

User status

Answer 2: Correct

Source structure

Answer 3: Incorrect

Order type

Answer 4: Correct

Allocation structure

Financial Questions



Question 55

What are the FI organizational structures that can be impacted in CO, when performing allocationsOr repostings?


Answer 1:

Business areas True False

Answer 2:

Companies True False

Answer 3:

Functional Areas True False

Answer 4:

Company Codes True False



Financial Questions



Question 56

What are the steps to building allocations in the Controlling module?Only one answer is correct

Answer 1: Correct

Cycle, Attach segments, Tracing Factors

Answer 2: Incorrect

Settlement, Tracing Factors, Weighting Factors

Answer 3: Incorrect

Cycle, Cycle Run Group, Segments

Answer 4: Incorrect

Cycle, Version, Tracing Factors

Financial Questions



Question 57

Which of the following are unique features of Special Purpose Ledgers:More than one answer is correct

Answer 1:

Can have up to 366 Posting Periods True False

Answer 2:

Boolean logic can be used to update your ledgers. True False

Answer 3:

Data cannot be brought in from external sources. True False

Answer 4:

Posting keys are required for posting to Special Purpose Ledgers. True False

Financial Questions



Question 57

Which of the following are unique features of Special Purpose Ledgers:More than one answer is correct

Answer 1: Correct

Can have up to 366 Posting Periods

Answer 2: Correct

Boolean logic can be used to update your ledgers.

Answer 3: Incorrect

Data cannot be brought in from external sources.

Answer 4: Incorrect

Posting keys are required for posting to Special Purpose Ledgers.

Financial Questions



Question 58

Which statement best describes a client in the SAP R/3 systems?Only one answer is correct

Answer 1:

A client is a customer defined work area on a database.

Answer 2:

A client can only have one company code.

Answer 3:

A client can only use one chart of accounts

Answer 4:

A self contained unit in SAP with it’s own set of tables and Master data and authorization profiles.

Financial Questions



Question 58

Which statement best describes a client in the SAP R/3 systems?Only one answer is correct

Answer 1: Incorrect

A client is a customer defined work area on a database.

Answer 2: Incorrect

A client can only have one company code.

Answer 3: Incorrect

A client can only use one chart of accounts

Answer 4: Correct

A self contained unit in SAP with it’s own set of tables and Master data and authorization profiles.



Financial Questions



Question 59

Which of the following are correct about Validations?More than one answer is correct

Answer 1: Incorrect

Validations aid in Substitutions

Answer 2: Incorrect

Validations are only allowed in the SAP R/3 system in the Controlling application.

Answer 3: Correct

Validations are set up with a Prerequisite, Check & Message.

Answer 4: Correct

Validations can use boolean logic to determine both the Prerequisite & the Check.



Financial Questions



Question 60

Which of the following are correct about Substitutions?More than one answer is correct

Answer 1: Correct

Substitutions are a two step process, a Prerequisite, and if met the substitution takes place.

Answer 2: Incorrect

Substitutions cannot use Boolean logic.

Answer 3: Correct

Substitutions require a constant field defined.

Answer 4: Correct

Substitutions are used frequently to put in Functional Areas into postings.

Financial Questions



Question 61

Which of the following are correct about the Payment Program Configuration


Answer 1:

Define a Paying Company Code & a Sending Company Code. True False

Answer 2:Configure whether the Master Records requires either bank information or address information

Based on the Payment Method. True False

Answer 3:

Specify the ABAP program that will be used to process the actual cheques.


Ranking your House Banks is not allowed. True False

Financial Questions



Question 61

Which of the following are correct about the Payment Program Configuration


Answer 1: Correct

Define a Paying Company Code & a Sending Company Code.

Answer 2: Correct Configure whether the Master Records requires either bank information or address information

Based on the Payment Method.

Answer 3: Correct

Specify the ABAP program that will be used to process the actual cheques.

Answer 4: Incorrect

Ranking your House Banks is not allowed.

Financial Questions



Question 62

Which of the following items can be paid by the Payment Program ConfigurationMore than one answer is correct

Answer 1: True False

Customer Credits.

Answer 2:

Open items in Accounts Payable. True False

Answer 3:

Only documents posted up to a certain date, which is specified by you. True False

Answer 4:

Only items not blocked by Invoice Verification True False

Financial Questions



Question 62

Which of the following items can be paid by the Payment Program ConfigurationMore than one answer is correct

Answer 1: Correct

Customer Credits.

Answer 2: Correct

Open items in Accounts Payable.

Answer 3: Correct

Only documents posted up to a certain date, which is specified by you.

Answer 4: Correct

Only items not blocked by Invoice Verification

Financial Questions



Question 63

Which of the following items can be edited in the Payment Proposal?More than one answer is correct

Answer 1:

Changing the Payment Method. True False

Answer 2:

Removing payment blocks True False

Answer 3:

Change the company code on a document. True False

Answer 4:

Change the amount of the document being paid. True False



Financial Questions



Question 64

Which of the following items can be configured in the Banks portion of the Payment Program?More than one answer is correct

Answer 1:

Rank your House banks. True False

Answer 2:

Entry of your Sub Bank Accounts (Clearing) inside your House Bank. True False

Answer 3:

Assignment of value dates. True False

Answer 4:

Multiple House banks can be defined in your Payment Program. True False

Financial Questions



Question 64

Which of the following items can be configured in the Banks portion of the Payment Program?More than one answer is correct

Answer 1: Correct

Rank your House banks.

Answer 2: Correct

Entry of your Sub Bank Accounts (Clearing) inside your House Bank.

Answer 3: Correct

Assignment of value dates.

Answer 4: Correct

Multiple House banks can be defined in your Payment Program.

Financial Questions



Question 65

Which of the following items can be put into the Parameters when executing a Payment Run?More than one answer is correct

Answer 1:

Which company codes are being paid. True False

Answer 2:

The next posting date. True False

Answer 3:

Vendor & Customer Accounts that are to be paid. True False

Answer 4:

Payment Methods. True False

Financial Questions



Question 65

Which of the following items can be put into the Parameters when executing a Payment Run?More than one answer is correct

Answer 1: Correct

Which company codes are being paid.

Answer 2: Correct

The next posting date.

Answer 3: Correct

Vendor & Customer Accounts that are to be paid.

Answer 4: Correct

Payment Methods.



Financial Questions



Question 66

Which of the following happens when you process the Payment portion of the Payment Run?Only one answer is correct

Answer 1: Incorrect

Print the cheques.

Answer 2: Correct

Open item is cleared, and the system issues a clearing document.

Answer 3: Incorrect

Vendor Master Record is updated with Banking information.

Answer 4: Incorrect

Vendor Master Record records duplicate payments.

Financial Questions



Question 67

Which of the following happens when you process the Print portion of the Payment Run?


Answer 1:

Print the cheques, and if you have Cheque Management up and running, this will be updated.True False

Answer 2:

A Variant is required to process the Print step. True False

Answer 3:

Vendor Master Record is updated with Banking information. True False

Answer 4:

Vendor open item is cleared. True False

Financial Questions



Question 67

Which of the following happens when you process the Print portion of the Payment Run?More than one answer is correct

Answer 1: Correct

Print the cheques, and if you have Cheque Management up and running, this will be updated.

Answer 2: Correct

A Variant is required to process the Print step.

Answer 3: Incorrect

Vendor Master Record is updated with Banking information.

Answer 4: Incorrect

Vendor open item is cleared.

Financial Questions



Question 68

Which of the following statements are true about Voiding Checks?More than one answer is correct

Answer 1:

As many Reason Codes as you require, can be defined. True False

Answer 2:

Data can be reset after voiding, no re-entry required. True False

Answer 3:

Voided Checks cannot be found on the Check Register. True False

Answer 4:

Voids can be done for multiple cheques at one time. True False

Financial Questions



Question 68

Which of the following statements are true about Voiding Checks?More than one answer is correct

Answer 1: Correct

As many Reason Codes as you require, can be defined..

Answer 2: Correct

Data can be reset after voiding, no re-entry required.

Answer 3: Incorrect

Voided Checks cannot be found on the Check Register.

Answer 4: Correct

Voids can be done for multiple cheques at one time.

Financial Questions



Question 69

Which of the following statements are true with respect to Manual Checks.More than one answer is correct

Answer 1:

Check information is not available online. True False

Answer 2:

Post data & print forms at the same time. True False

Answer 3:

Post data only. True False

Answer 4:

Manual checks cannot be issued in different currencies. True False



Financial Questions



Question 70

Which of the following is true with respect to Recurring Entries:


Answer 1:

A recurring entry document must be set up. True False

Answer 2:Periodically execute the recurring entry program. True False

Answer 3:

Run Schedules & run dates can be configured. True False

Answer 4:Recurring entries will generate a batch input session. True False

Financial Questions



Question 70

Which of the following is true with respect to Recurring Entries:


Answer 1: Correct

A recurring entry document must be set up.

Answer 2: Correct Periodically execute the recurring entry program.

Answer 3: Correct

Run Schedules & run dates can be configured.

Answer 4: Correct Recurring entries will generate a batch input session.



Financial Questions



Question 73

Which allocation method in Controlling always uses a Secondary Cost Element?


Answer 1:

Distribution

Answer 2:

Periodic Reposting

Answer 3:

Accruals

Answer 4:

Assessments

Financial Questions



Question 73

Which allocation method in Controlling always uses a Secondary Cost Element?


Answer 1: Incorrect

Distribution

Answer 2: Incorrect

Periodic Reposting

Answer 3: Incorrect

Accruals

Answer 4: Correct

Assessments

Financial Questions



Question 74

Which of the following is correct about Statistical Key Figures


Answer 1:

SKF’s have validity dates. True False

Answer 2:

SKF’s can be transferred in from the Logistics Information system. True False

Answer 3:

Fixed is one type of SKF. True False

Answer 4:

Fixed offers summation of SKF’s True False

Financial Questions



Question 74

Which of the following is correct about Statistical Key Figures


Answer 1: Incorrect

SKF’s have validity dates.

Answer 2: Correct

SKF’s can be transferred in from the Logistics Information system.

Answer 3: Correct

Fixed is one type of SKF.

Answer 4: Incorrect

Fixed offers summation of SKF’s

Financial Questions



Question 75

Which of the following is correct regarding cost centers.


Answer 1:

Entry of a currency in the master data for each cost center that is different from your company

Code Currency is allowed. True False

Answer 2:

A cost center must be assigned to the standard hierarchy. True False

Answer 3:

Cost Centers are created with a validity period. True False

Answer 4:

Cost centers are created within the Operating Concern. True False

Financial Questions



Question 75

Which of the following is correct regarding cost centers.


Answer 1: Incorrect

Entry of a currency in the master data for each cost center that is different from your company

Code Currency is allowed.

Answer 2: Correct

A cost center must be assigned to the standard hierarchy.

Answer 3: Correct

Cost Centers are created with a validity period.

Answer 4: Incorrect

Cost centers are created within the Operating Concern.

Financial Questions



Question 76

Which of the following is correct


Answer 1:

A primary cost element is related to a general ledger expense account. True False

Answer 2:

Secondary cost elements are used only in Controlling. True False

Answer 3:

Revenue elements are primary elements. True False

Answer 4:

Creation of secondary cost elements is allowed with a cost element category as primary.

True False

Financial Questions



Question 76



Answer 1: Correct

A primary cost element is related to a general ledger expense account.

Answer 2: Correct

Secondary cost elements are used only in Controlling.

Answer 3: Correct

Revenue elements are primary elements.

Answer 4: Incorrect

Creation of secondary cost elements is allowed with a cost element category as primary.

Financial Questions



Question 77

When creating CO postings which of the following is correct.


Answer 1:

Cost centers can be locked, so that no CO documents can be posted to it. True False

Answer 2:

Number ranges are assigned to account groups for CO documents. True False

Answer 3:

When revenue is posted to cost centers, it is a real posting. True False

Answer 4:

CO documents can be created for Actual & Plan Postings. True False



Financial Questions

Q ti 78



Question 78



Answer 1: Correct

Cost Center planning is performed using a planning version.

Answer 2: Incorrect

Once a planning version is locked, values can still be changed.

Answer 3: Correct

The definition of a version applies to the entire controlling module

Answer 4: Correct

In the Plan Version, configure whether the plan data can be copied

Financial Questions

Question 79



Question 79

Which of the following is correct about the Reconciliation Ledger


Answer 1:

Reconciliation Ledger keeps track of cross company code cost allocations.

True False

Answer 2:

Reconciliation Ledger keeps track of Profit Center postings across company codes.

True False

Answer 3:

Based on postings in the Reconciliation Ledger, General Ledger accounting postings

Are created to balance FI with CO. True False

Answer 4:

Reconciliation postings use inter-company accounts to bring FI in balance for cross

Company Code cost allocations. True False

Financial Questions

Question 79



Question 79

Which of the following is correct about the Reconciliation Ledger


Answer 1: Correct

Reconciliation Ledger keeps track of cross company code cost allocations.

Answer 2: Incorrect

Reconciliation Ledger keeps track of Profit Center postings across company codes.

Answer 3: Correct

Based on postings in the Reconciliation Ledger, General Ledger accounting postings

Are created to balance FI with CO.

Answer 4: Correct

Reconciliation postings use inter-company accounts to bring FI in balance for cross

Company Code cost allocations.



Financial Questions

Question 81



Question 81

Which of the following is correct about Profit Center Accounting


Answer 1: Incorrect

Accounts Receivable & payable values can be updated to profit center accounting online.

Answer 2: Correct

The posting of sales order revenue to a profit center is determined from the profit center

Assignment in the material master of the invoiced item.

Answer 3: Correct

In customizing EC-PCA, elimination of cost allocation postings between two

Cost centers that belong to the same profit center can be configured.

Answer 4: Incorrect

The profit center is always determined for a posting based on the cost element.

Financial Questions

Question 82



Question 82

Which of the following is correct about Posting Periods


Answer 1:

Posting periods are defined in the fiscal year variant. True False

Answer 2:

The maximum number of posting periods allowed in Finance is sixteen (16)

True False

Answer 3:

Posting Periods must remain open for the Fiscal Year. True False

Answer 4:Only one special posting period is allowed for each fiscal year. True False

Financial Questions

Question 82



Question 82

Which of the following is correct about Posting Periods


Answer 1: Correct

Posting periods are defined in the fiscal year variant.

Answer 2: Correct

The maximum number of posting periods allowed in Finance is sixteen (16)

Answer 3: Incorrect

Posting Periods must remain open for the Fiscal Year.

Answer 4: Incorrect Only one special posting period is allowed for each fiscal year.



Financial Questions

Question 83



Question 83

Which of the following is correct about Activity Types


Answer 1: Correct

A Secondary Cost Element is assigned to each Activity Type master record.

Answer 2: Incorrect

Only one activity type is allowed per cost center.

Answer 3: Correct

Activity types have validity dates.

Answer 4: Correct Restricted use of an Activity type to certain cost centers can be done by entering the

Cost Center Category in the Activity Type master record.

Financial Questions

Question 84



Question 84

Which two features have to be identical when assigning a Company Code to a Controlling Area.


Answer 1:

Same version and same activity codes in Finance and Controlling.

Answer 2:

Commitment accounting is turned on in Finance and Controlling.

Answer 3:

Same Chart of Accounts & same Fiscal Year Variant in both Finance and Controlling.

Answer 4:

Same summarization levels in Finance and Controlling.

Financial Questions

Question 84



Question 84

Which two features have to be identical when assigning a Company Code to a Controlling Area.


Answer 1: Incorrect

Same version and same activity codes in Finance and Controlling.

Answer 2: Incorrect

Commitment accounting is turned on in Finance and Controlling.

Answer 3: Correct

Same Chart of Accounts & same Fiscal Year Variant in both Finance and Controlling.

Answer 4: Incorrect

Same summarization levels in Finance and Controlling.



Financial Questions

Question 86



Which of the following statements are correct regarding Cash Journals


Answer 1: Correct

You can create, change, & delete Business transactions used in Cash Journals.

Answer 2: Correct

Hidden behind each Cash Journal is the account that will be posted to.

Answer 3: Correct

Account balance in each Cash Journal can be displayed.

Answer 4: Incorrect

Viewing the Financial documents directly from the Cash Journal is not possible.

Financial Questions

Question 87



Which of the following statements are correct regarding Cross Company Code postings:


Answer 1:

The system generates a document in each company. True False

Answer 2:

Reversal of Intercompany documents is not possible. True False

Answer 3:

The system generates an Intercompany document. True False

Answer 4:

Intercompany code General Ledger clearing accounts are defined. True False

Financial Questions

Question 87



Which of the following statements are correct regarding Cross Company Code postings:


Answer 1: Correct

The system generates a document in each company.

Answer 2: Incorrect

Reversal of Intercompany documents is not possible

Answer 3: Correct

The system generates an Intercompany document.

Answer 4: Correct

Intercompany code General Ledger clearing accounts are defined.

Financial Questions

Question 88



Which of the following statements are correct regarding Manual Check Deposits


Answer 1:

Multiple layouts for entering cheque information can be created. True False

Answer 2:

Two Batch Input Sessions, one for your sub bank clearing accounts and

The other to clear the Open item from the Accounts Receivables sub ledger are created.

True False

Answer 3:

Inside the Specifications of the Check deposit include House bank and Account ID.


Limited to posting 25 checks at one time. True False

Financial Questions

Question 88



Which of the following statements are correct regarding Manual Check Deposits


Answer 1: Correct

Multiple layouts for entering cheque information can be created.

Answer 2: Correct

Two Batch Input Sessions, one for your sub bank clearing accounts and

The other to clear the Open item from the Accounts Receivables sub ledger are created.

Answer 3: Correct

Inside the Specifications of the Check deposit include House bank and Account ID.

Answer 4: Incorrect

Limited to posting 25 checks at one time.

Financial Questions

Question 89



Which of the following statements are correct regarding Parallel Currencies


Answer 1:

Four different currencies can be used in a company code. True False

Answer 2:

Local Currency and Transaction Currency are always tracked. True False

Answer 3:

Documents can only reflect Company Code Currency. True False

Answer 4:

Documents can only reflect Transaction Currency. True False

Financial Questions

Question 89



Which of the following statements are correct regarding Parallel Currencies


Answer 1: Correct

Four different currencies can be used in a company code.

Answer 2: Correct

Local Currency and Transaction Currency are always tracked.

Answer 3: Incorrect

Documents can only reflect Company Code Currency.

Answer 4: Incorrect

Documents can only reflect Transaction Currency.

Financial Questions

Question 90



Which of the following statements are correct regarding Correspondence


Answer 1:

Correspondence types cannot be configured. True False

Answer 2:

Mass production of Correspondence items can be created, such as Account Statements.

True False

Answer 3:

Correspondence requests can be made from line item display if the correspondence type allows it.


Correspondence, such as Dunnings cannot be issued out of one company code. True False

Financial Questions

Question 90



Which of the following statements are correct regarding Correspondence


Answer 1: Incorrect

Correspondence types cannot be configured.

Answer 2: Correct

Mass production of Correspondence items can be created, such as Account Statements.

Answer 3: Correct

Correspondence requests can be made from line item display if the correspondence type allows it.

Answer 4: Incorrect

Correspondence, such as Dunnings cannot be issued out of one company code.



Financial Questions

Question 91



Which of the following statements are correct regarding Line Item Display


Answer 1: Incorrect

All users can create global variants in your company to use.

Answer 2: Correct

Display variants can be changed to create a different look to your report.

Answer 3: Correct

Line items that you display can be downloaded into an Excel spreadsheet.

Answer 4: Correct

Drill down to the actual posting and viewing the document and header card to see who

Entered it into the system is possible.

Financial Questions

Question 92



Which of the following statements are correct regarding Reconciliation Accounts.


Answer 1:

Line item display should be on to analyze them. True False

Answer 2:

Direct posting to a Reconciliation Account is not possible. True False

Answer 3:

Reconciliation Accounts keep sub ledgers in balance with the General Ledger.


Reconciliation Accounts are put into the sub ledger master records. True False

Financial Questions

Question 92



Which of the following statements are correct regarding Reconciliation Accounts.


Answer 1: Incorrect

Line item display should be on to analyze them.

Answer 2: Correct

Direct posting to a Reconciliation Account is not possible.

Answer 3: Correct

Reconciliation Accounts keep sub ledgers in balance with the General Ledger.

Answer 4: Correct

Reconciliation Accounts are put into the sub ledger master records.

Financial Questions

Question 93



Which of the following statements is true about Report Painter.


Answer 1:

Fiscal year and period are examples of basic key figures. True False

Answer 2:

Libraries contain Characteristics, Basic Key Figures, and Key Figures True False

Answer 3:

An extract can only be executed once for a report group True False

Answer 4:

Variations must be defined in the report definition True False

Financial Questions

Question 93



Which of the following statements is true about Report Painter.


Answer 1: Incorrect

Fiscal year and period are examples of basic key figures.

Answer 2: Correct

Libraries contain Characteristics, Basic Key Figures, and Key Figures

Answer 3:Incorrect

An extract can only be executed once for a report group

Answer 4: Correcth

Variations must be defined in the report definition

Financial Questions

Question 94

Whi h f th f ll i t t t t ith t t S h d l M



Which of the following statements are correct with respect to Schedule Manager


Answer 1:

The closing process is more transparent and easier to handle. True False

Answer 2:

Worklist-driven error analysis and integrated error handling procedures reduce the time

Needed for error correction. True False

Answer 3:

Total processing time is minimized by optimized worklist processing. True False

Answer 4:

Schedule manager cannot schedule workflow. True False

Financial Questions

Question 94

Whi h f th f ll i t t t t ith t t S h d l M



Which of the following statements are correct with respect to Schedule Manager


Answer 1: Correct

The closing process is more transparent and easier to handle.

Answer 2: Correct

Worklist-driven error analysis and integrated error handling procedures reduce the time

Needed for error correction.

Answer 3: Correct

Total processing time is minimized by optimized worklist processing.

Answer 4: Incorrect

Schedule manager cannot schedule workflow.

Financial Questions

Question 95



Report painter processing includes the following functionality


Answer 1:

Painter reports are executed on Writer code True False

Answer 2:

Painter is used to create standard reports and layouts throughout the system

True False

Answer 3:

Include general data selection for rows only


Is considered an ad-hoc reporting environment True False

Financial Questions

Question 95






Answer 1: Correct

Painter reports are executed on Writer code

Answer 2: Correct

Painter is used to create standard reports and layouts throughout the system

Answer 3: Incorrect

Include general data selection for rows only

Answer 4: Correct

Is considered an ad-hoc reporting environment

Financial Questions

Question 96

Whi h th i C fi ti t f C t lli ?



Which are the main Configuration aspects of Controlling?


Answer 1:

Maintaining the Controlling Area True False

Answer 2:

Maintaining the versions True False

Answer 3:

Maintaining the Work in Process True False

Answer 4:

Maintaining the Number Ranges for different transactions True False

Financial Questions

Question 96

Whi h th i C fi ti t f C t lli ?



Which are the main Configuration aspects of Controlling?


Answer 1: Correct

Maintaining the Controlling Area

Answer 2: Correct

Maintaining the versions

Answer 3: Incorrect

Maintaining the Work in Process

Answer 4: Correct

Maintaining the Number Ranges for different transactions

Financial Questions

Question 97

P fit t b i d t th f ll i



Profit centers can be assigned to the following:


Answer 1:

General Ledger accounts True False

Answer 2:

Materials True False

Answer 3:

Projects True False

Answer 4:

Assets True False

Financial Questions

Question 97

P fit t b i d t th f ll i



Profit centers can be assigned to the following:


Answer 1: Incorrect

General Ledger accounts

Answer 2: Correct

Materials

Answer 3: Correct

Projects

Answer 4: Correct

Assets

Financial Questions

Question 98

Which processes in the Sales Order value chain create Financial documents?





Answer 1:

Delivery True False

Answer 2:

Post Good Issue True False

Answer 3:

Transfer Order True False

Answer 4:

Billing document True False

Financial Questions

Question 98






Answer 1: Incorrect

Delivery

Answer 2: Correct

Post Good Issue

Answer 3: Incorrect

Transfer Order

Answer 4: Correct

Billing document

Financial Questions

Question 99

What field on my customer & vendor master records is maintained to help with automatic




Eliminations in consolidations:Only one answer is correct

Answer 1:

Group Key

Answer 2:

Trading Partner

Answer 3:

Account Statement

Answer 4:

Title

Financial Questions

Question 99





Eliminations in consolidations:Only one answer is correct

Answer 1: Incorrect

Group Key

Answer 2: Correct

Trading Partner

Answer 3: Incorrect

Account Statement

Answer 4: Incorrect

Title

Financial Questions

Question 100

What is the purpose of the dummy profit center?





Answer 1:

To be used as the receiver for all allocations.

Answer 2:

To be used as the sender for all allocations.

Answer 3:

For each posting that is made without a profit center linked to it, it automatically goes to the

Dummy Profit Center.

Answer 4:

It is used for all depreciation postings.

Financial Questions

Question 100






Answer 1: Incorrect

To be used as the receiver for all allocations.

Answer 2: Incorrect

To be used as the sender for all allocations.

Answer 3: Correct

For each posting that is made without a profit center linked to it, it automatically goes to the

Dummy Profit Center.