The Ultimate SAP Business One Certification Practice Test #2
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Which of the following document types can you create header and footer text for?
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Sales Order
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Business Partner master data
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Item master data
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A/P Credit Memo
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This is a practice exam that will prepare you for your SAP Business One certification exam C_TB1200_07. In the real exam, you will be required to answer 80 multiple choice questions in a three hour time period, and the pass mark is 70%. Something to remember with this exam is that there are many questions where more than See moreone answer is correct; however, they do not specify how many to select. Therefore it could be two or perhaps four that are correct. Unless you know your work and have studied hard, this exam can seem very tough. Read the questions carefully and answer. So, let's try out the quiz. All the best!
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- 2.
Your customer wants to set up an approval process for purchasing. What advice would you give them?
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All users who add purchasing documents will be subject to the approval process specified in the approval template.
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You must specify the names of all users who will be subject to the approval process.
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You cannot mix predefined terms and user-defined queries in an approval template.
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You must first define the approvers for each stage of the process.
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You can include purchasing and inventory documents in the same approval template.
Correct Answer(s)
A. You must specify the names of all users who will be subject to the approval process.
A. You must first define the approvers for each stage of the process.Explanation
The customer should be advised to specify the names of all users who will be subject to the approval process. This is important to ensure that the appropriate individuals are involved in the approval process and that the documents are reviewed by the correct individuals. Additionally, the customer should also be advised to first define the approvers for each stage of the process. This will help in establishing a clear and organized approval workflow, ensuring that the documents go through the necessary stages and are reviewed by the designated approvers.Rate this question:
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- 3.
You want to see the accumulated assets and liabilities for the financial year to date. Which report can you use?
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Balance Sheet
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Cash Flow Report
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Profit and Loss Statement
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Annual Report
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General Ledger Report
Correct Answer
A. Balance SheetExplanation
The balance sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time. It shows the accumulated assets and liabilities for the financial year to date, allowing stakeholders to assess the company's financial position. The cash flow report focuses on the cash inflows and outflows during a specific period, while the profit and loss statement shows the company's revenues, expenses, and net income or loss over a period. The annual report is a comprehensive report on a company's activities throughout the year, including financial information. The general ledger report provides a detailed record of all financial transactions.Rate this question:
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- 4.
There are three types of balance sheet accounts. Which of the following are not among the balance sheet accounts?
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Assets
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Equity
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Liability
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Revenue
Correct Answer
A. RevenueExplanation
Revenue is not among the balance sheet accounts because it represents the income generated by a company through its primary business activities. It is recorded on the income statement, which is a separate financial statement that shows the company's revenues, expenses, and net income for a specific period. The balance sheet, on the other hand, presents a snapshot of a company's financial position at a specific point in time and includes assets, liabilities, and equity.Rate this question:
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- 5.
Which of the following is correct concerning the Item master data?
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A non-inventory item can only be changed to a inventory item and not vice versa.
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An inventory item can be changed to a non-inventory item and vice versa when the total quantity of the item is zero or the item has no open document.
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An inventory item can be changed to a non-inventory item and vice versa only when the total quantity of the item is zero and the item has no open document.
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An inventory item cannot be changed to a non-inventory item irrespective of any condition.
Correct Answer
A. An inventory item can be changed to a non-inventory item and vice versa only when the total quantity of the item is zero and the item has no open document.Explanation
This answer is correct because it states that an inventory item can be changed to a non-inventory item and vice versa, but only under specific conditions. These conditions are that the total quantity of the item must be zero and the item must have no open document. This implies that if the item has any quantity or open documents associated with it, it cannot be changed from an inventory item to a non-inventory item or vice versa.Rate this question:
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- 6.
Which statements are true regarding issuing components to production order?
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A production order must be released before components can be issued manually.
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By-products can be added to the components list in a production order with a negative quantity to indicate items that are to be put into stock after production.
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The list of components in a standard production order is created from the production bill of materials assigned to the finished product.
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To issue each component individually as it is used, choose the backflush option.
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You can only update the component details in a production order before the production order is released
Correct Answer(s)
A. A production order must be released before components can be issued manually.
A. By-products can be added to the components list in a production order with a negative quantity to indicate items that are to be put into stock after production.
A. The list of components in a standard production order is created from the production bill of materials assigned to the finished product.Explanation
To issue components to a production order, the production order must be released first. By-products can be included in the components list with a negative quantity to indicate that they will be put into stock after production. The list of components in a standard production order is generated from the production bill of materials assigned to the finished product.Rate this question:
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- 7.
You reach an agreement with your customer to accept payments in three installments. What happens when you create an invoice for this customer?
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The system automatically splits the invoice amount into three equal payments and posts a journal entry for each payment with the relevant due date.
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The system posts a single journal entry that contains a row for each installment. The due date is set to date of the final installment.
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The system posts three separate journal entries, one for each installment, each with the relevant posting date.
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The system posts a single journal entry that contains a row for each installment with the relevant due date.
Correct Answer
A. The system posts a single journal entry that contains a row for each installment with the relevant due date.Explanation
When you create an invoice for a customer with an agreement to accept payments in three installments, the system will post a single journal entry that contains a row for each installment. Each row will have the relevant due date specified. This means that the customer will receive one invoice with all the installment details and due dates clearly mentioned.Rate this question:
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- 8.
Which one of the following statements is true regarding the use of query print layouts in SAP Business One?
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You can include sub-sorts and sub-totals.
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You can add database fields to an existing query print layout.
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Each query print layout is automatically assigned to a query in the system.
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A query print layout can be based on several queries.
Correct Answer
A. You can include sub-sorts and sub-totals.Explanation
Query print layouts in SAP Business One allow users to include sub-sorts and sub-totals in their reports. This means that users can organize and group data within the report based on specific criteria, and also calculate sub-totals for each group. This feature enhances the usability and flexibility of the query print layouts, allowing users to customize their reports according to their specific needs and requirements.Rate this question:
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- 9.
Alternative item row type can be defined for which document type?
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Sales Order
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Goods Issue
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Sales Quotation
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Purchase Order
Correct Answer
A. Sales QuotationExplanation
An alternative item row type can be defined for the Sales Quotation document type. This means that when creating a Sales Quotation, users have the option to define alternative items for the products or services being quoted. These alternative items can be used as substitutes or options for the main items, allowing for more flexibility in the quotation process.Rate this question:
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- 10.
You are implementing SAP Business One for a client. What is the minimum number of databases that should be created during the project implementation phase?
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1
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2
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3
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4
Correct Answer
A. 3Explanation
During the project implementation phase of SAP Business One, a minimum of three databases should be created. This is because SAP Business One requires three databases: the system database, the company database, and the demo database. The system database contains information about the SAP Business One system itself, the company database stores the client's business data, and the demo database is used for testing and training purposes. Therefore, creating three databases is necessary for a successful implementation of SAP Business One.Rate this question:
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- 11.
Approval procedures can be defined for which of the following documents?
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Business Partner
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Goods Receipt
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Sales Order
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Purchase Order
Correct Answer(s)
A. Goods Receipt
A. Sales Order
A. Purchase OrderExplanation
Approval procedures can be defined for documents such as Goods Receipt, Sales Order, and Purchase Order. This means that before these documents can be finalized or processed, they need to go through an approval process. This process ensures that the documents meet certain criteria or requirements before they can be considered valid or authorized. By defining approval procedures for these documents, organizations can maintain control over their operations and ensure that all necessary approvals are obtained before proceeding with the respective transactions.Rate this question:
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- 12.
You use Account Code Generator to create segments for your Chart of Accounts. True or False?
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True
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False
Correct Answer
A. TrueExplanation
The Account Code Generator is a tool used to create segments for the Chart of Accounts. It allows users to generate unique account codes based on specific criteria or rules. By using this tool, segments can be created to categorize accounts and organize financial information effectively. Therefore, the statement "You use Account Code Generator to create segments for your Chart of Accounts" is true.Rate this question:
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- 13.
Janice has created a new payment method for outgoing checks. When she runs the Payment Wizard to pay her vendors, she does not see the new payment method. What did Janice forget to do?
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She did not include the new payment method in the vendor master data.
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She did not assign the new payment method to the vendor properties.
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She did not include the new payment method in the payment run defaults.
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She did not set up outgoing checks in the 'Payment Terms' for the vendor master data.
Correct Answer(s)
A. She did not include the new payment method in the vendor master data.
A. She did not include the new payment method in the payment run defaults.Explanation
Janice forgot to include the new payment method in the vendor master data, which is why she cannot see it when running the Payment Wizard to pay her vendors. Additionally, she also did not include the new payment method in the payment run defaults, further contributing to the issue.Rate this question:
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- 14.
Which of the following statements are true regarding sales orders?
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You can create a purchase order based on a sales order.
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A delivery date is optional when a sales order is first created.
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A sales order entered for a product will reduce the available stock for that item by the quantities entered in the sales order
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Once a sales order is added, it must be deleted and re-entered if there are changes to the order.
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A sales order can be created from a quotation.
Correct Answer(s)
A. You can create a purchase order based on a sales order.
A. A sales order entered for a product will reduce the available stock for that item by the quantities entered in the sales order
A. A sales order can be created from a quotation.Explanation
The first statement is true because it is possible to create a purchase order based on a sales order. The second statement is false because a delivery date is not optional when a sales order is first created, it is a required field. The third statement is true because when a sales order is entered for a product, it will reduce the available stock for that item by the quantities entered in the sales order. The fourth statement is false because if there are changes to a sales order, it can be modified instead of being deleted and re-entered. The fifth statement is true because a sales order can be created from a quotation.Rate this question:
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- 15.
What is a typical reason to set up a user-defined field with Alphanumeric as the Type and Text as the Structure?
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Allows the field to store rate, amount, and price types.
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Allows the field to store the date and hour structures.
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Allows the field to store a long description or notes.
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Allows the field to store hyperlinks or image files.
Correct Answer
A. Allows the field to store a long description or notes.Explanation
A user-defined field with Alphanumeric as the Type and Text as the Structure allows the field to store a long description or notes. This means that the field can be used to input and store detailed information or additional comments about a particular item or record. It is not specifically designed to store rate, amount, and price types, date and hour structures, or hyperlinks or image files.Rate this question:
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- 16.
The sales manager, Vincent, would like to have seasonal prices discounted from the regular sales price. He would like to change all his products prices at the same time whenever the season changes. What is the most efficient way to do this?
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Create a price list for the regular sales price. Create a hierarchy called 'seasonal prices' which will be based on the regular sales price list and will give time-based discounts for the season based on a factor Vincent enters.
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Create a price list called 'regular sales price list' to list the regular sales prices. Whenever Vincent wants to have a seasonal price list, he will use the 'regular sales price list' as the base price list and enter a discount factor.
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Create a price list called 'regular sales price list' to list the regular sales prices. Create another price list called 'seasonal price list'. Use the 'regular sales price list' as the base and set a factor by which to discount all the items. Whenever Vincent wants to change the prices on the seasonal price, he can change the factor without creating a new price list.
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Create a price list which will contain the regular sales prices. Define period and volume discounts for the seasonal prices which will contain both the validity periods for the discounts and a factor to calculate the discounts for all items.
Correct Answer
A. Create a price list called 'regular sales price list' to list the regular sales prices. Create another price list called 'seasonal price list'. Use the 'regular sales price list' as the base and set a factor by which to discount all the items. Whenever Vincent wants to change the prices on the seasonal price, he can change the factor without creating a new price list.Explanation
The most efficient way to change all the product prices at the same time whenever the season changes is to create a price list called 'regular sales price list' to list the regular sales prices. Then, create another price list called 'seasonal price list' and use the 'regular sales price list' as the base. Set a factor by which to discount all the items in the seasonal price list. This way, whenever Vincent wants to change the prices for the seasonal price list, he can simply modify the discount factor without the need to create a new price list.Rate this question:
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- 17.
If you purchase 10 of product X at $10 and then purchase 10 of product X at $20, which statements below would be true using the different valuation methods?
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The total value for the inventory of product X is $300 if you are using the moving average valuation method.
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The moving average cost of product X would be $30
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Using FIFO method of inventory valuation, the current unit cost of sales for product X would be $10
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You cannot determine the standard cost for this item with only the information given above.
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Using the moving average valuation method, the current unit cost of sales for product X would be $15.
Correct Answer(s)
A. The total value for the inventory of product X is $300 if you are using the moving average valuation method.
A. Using FIFO method of inventory valuation, the current unit cost of sales for product X would be $10
A. You cannot determine the standard cost for this item with only the information given above.
A. Using the moving average valuation method, the current unit cost of sales for product X would be $15.Explanation
The total value for the inventory of product X is $300 if you are using the moving average valuation method because the moving average method calculates the average cost of all units in inventory, taking into account both the $10 and $20 purchases. The FIFO method of inventory valuation would result in a current unit cost of sales for product X of $10 because under FIFO, the oldest units are assumed to be sold first. The standard cost for this item cannot be determined with only the information given above because the standard cost is a predetermined cost based on management's expectations. Using the moving average valuation method, the current unit cost of sales for product X would be $15, as it is the average cost of all units in inventory.Rate this question:
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- 18.
What affects the receipts quantity on the MRP recommendation?
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Forecasts
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Sales Orders
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Purchase Orders
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Production orders for the finished goods item.
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Min. inventory levels
Correct Answer(s)
A. Purchase Orders
A. Production orders for the finished goods item.Explanation
The receipts quantity on the MRP recommendation is affected by the purchase orders and production orders for the finished goods item. Purchase orders represent the quantity of materials or components that will be received from suppliers, while production orders indicate the quantity of finished goods that will be produced internally. These two factors directly impact the overall receipts quantity, as they determine the availability of materials and finished products for the production process. The other options, such as forecasts, sales orders, and minimum inventory levels, may influence the MRP recommendation indirectly but do not directly affect the receipts quantity.Rate this question:
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- 19.
Chad of Blue Steel Inc. created a purchase order for steel tubes. After creating the order, he realized that he had ordered too large a quantity from his vendor. What advice would you give to Chad?
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Since the purchase order cannot be changed or canceled in the system, he should create an Advance Goods Return for the excess quantity that he will receive from the purchase order.
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Since he cannot change the purchase order, he should contact the vendor and ask them to send a smaller amount than is shown on the purchase order, then change the status on the purchase order to closed once the smaller amount is received.
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He can reduce the quantity on the purchase order as longs as it has not yet been shipped and contact his vendor to let him/her know of the change.
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Since the purchase order cannot be changed, he must cancel and re-create the purchase order for the correct amount.
Correct Answer
A. He can reduce the quantity on the purchase order as longs as it has not yet been shipped and contact his vendor to let him/her know of the change.Explanation
Chad can reduce the quantity on the purchase order as long as it has not yet been shipped and inform his vendor about the change. This allows him to correct his mistake without canceling or recreating the entire purchase order. By contacting the vendor, he can ensure that the vendor is aware of the change and will send the correct quantity of steel tubes. This solution is more efficient and avoids the need for additional paperwork or delays in the procurement process.Rate this question:
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- 20.
Which statements are true about the opportunities pipeline report?
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This report allows you to analyze open opportunities for their chance of success.
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The opportunities pipeline report contains both won and lost opportunities.
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The dynamic graph format displays only open sales opportunities.
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The report can be filtered by sales employee and by stage.
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Opportunities can be displayed in a row format or as a segment in a graphic.
Correct Answer(s)
A. This report allows you to analyze open opportunities for their chance of success.
A. The report can be filtered by sales employee and by stage.
A. Opportunities can be displayed in a row format or as a segment in a graphic.Explanation
The opportunities pipeline report allows you to analyze open opportunities for their chance of success. It can be filtered by sales employee and by stage, allowing for a more specific analysis. The report also offers the option to display opportunities in a row format or as a segment in a graphic, providing different visual representations of the data.Rate this question:
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- 21.
How does SAP Business On calculate the stock available in the warehouse?
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Committed - Ordered
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In Stock - Committed
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Committed + In Stock + Ordered
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In Stock + Ordered - Committed
Correct Answer
A. In Stock + Ordered - CommittedExplanation
SAP Business One calculates the stock available in the warehouse by taking into account the stock that is currently in the warehouse (In Stock), the stock that has been ordered but not yet received (Ordered), and subtracting the stock that has already been committed to fulfill customer orders (Committed). This calculation gives an accurate representation of the stock that is available for immediate use or sale in the warehouse.Rate this question:
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- 22.
How many concurrent same user access is possible on a SAP Business One company database?
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1
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2
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3
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4
Correct Answer
A. 2Explanation
The correct answer is 2 because SAP Business One allows for a maximum of two concurrent same user access on a company database. This means that at any given time, only two users with the same login credentials can access the database simultaneously.Rate this question:
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- 23.
There are 2 types of income statement and they are ...?
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Contingency & Capital
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Revenue & Capital
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Assets & Liability
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Revenue & Expenses
Correct Answer
A. Revenue & ExpensesExplanation
The correct answer is Revenue & Expenses. An income statement is a financial statement that shows a company's revenue and expenses over a specific period of time. Revenue represents the income generated from the company's primary activities, such as sales of goods or services. Expenses, on the other hand, are the costs incurred by the company to generate revenue. By subtracting expenses from revenue, the income statement calculates the company's net income or loss. Therefore, Revenue & Expenses are the two types of income statement.Rate this question:
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- 24.
How many levels are there in the Chart of Accounts
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5
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4
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3
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6
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7
Correct Answer
A. 5Explanation
The correct answer is 5 because the Chart of Accounts is a structured list of all the accounts used by a company to record its financial transactions. It is typically organized into five levels, which represent different categories of accounts. These levels include assets, liabilities, equity, revenue, and expenses. Each level contains multiple accounts that provide detailed information about specific financial activities. Therefore, the Chart of Accounts consists of five levels in order to accurately track and classify the company's financial data.Rate this question:
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- 25.
Ted opens a Business Partner master record and notices that the Account Balance field contains asterisks instead of having a numeric value. What has happened?
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Ted does not have general authorization to view Business Partner account balances.
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Ted is not the owner of this master data record.
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The account balance field is negative, therefore Ted must determine the reason why.
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Ted is not defined as a sales employee, therefore he has no access to account balances.
Correct Answer
A. Ted does not have general authorization to view Business Partner account balances.Explanation
Ted does not have general authorization to view Business Partner account balances. This is indicated by the asterisks in the Account Balance field, which suggests that the system is hiding the actual numeric value from Ted. This could be due to security settings or restrictions set by the system administrator, preventing Ted from accessing this information.Rate this question:
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- 26.
In the Business Partner payment terms, you set the Due Date, which is calculated based on the posting date, starting from the beginning of the month plus 31 days. You create an A/R Invoice on May 10. Which Due Date will appear on the invoice?
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May 31
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July 31
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July 1
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June 30
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June 10
Correct Answer
A. July 1Explanation
The Due Date on the invoice will be July 1. This is because the payment terms are calculated based on the posting date, which is May 10 in this case. The Due Date is set to the beginning of the month plus 31 days, so the invoice will be due on the first day of the following month, which is July 1.Rate this question:
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- 27.
You want to define a budget for the new financial year. What are your options?
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You can enter the budget amounts manually, or you can base the amounts on another budget scenario.
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You do not need to define a budget scenario for the new fiscal year unless you want to produce projection reports for optimistic or pessimistic scenarios.
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You can define additional budget scenarios, but the system only checks for deviation from the first budget scenario you define for the year.
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You must always base your new budget scenario on the main budget from the previous year.
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You must first define a budget scenario for the new fiscal year.
Correct Answer(s)
A. You can enter the budget amounts manually, or you can base the amounts on another budget scenario.
A. You can define additional budget scenarios, but the system only checks for deviation from the first budget scenario you define for the year.
A. You must first define a budget scenario for the new fiscal year.Explanation
The given answer options explain the various options available for defining a budget for the new financial year. The first option states that you can enter the budget amounts manually or base them on another budget scenario. The second option mentions that you can define additional budget scenarios, but the system only checks for deviation from the first budget scenario defined for the year. The third option states that you must first define a budget scenario for the new fiscal year. These options provide a comprehensive explanation of the available choices and requirements for defining a budget.Rate this question:
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- 28.
Your customer wants to post an expense for 100 in this fiscal year and defer 25 to the expense to the next fiscal year. How can your customer do this?
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Post the deferred expense (75), then post a journal entry for the full amount, with a reversal date for next year.
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Post the full expense, then post a journal entry to credit the expense for 25, with a reversal date for next year.
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Post the full expense, then post a journal entry to credit the expense for 75, with a reversal date for next year.
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Post the deferred expense (25), then post a journal entry to debit the expense for 75, with a reversal date for next year.
Correct Answer
A. Post the full expense, then post a journal entry to credit the expense for 25, with a reversal date for next year.Explanation
To defer 25 to the next fiscal year, the customer should first post the full expense of 100. Then, they should post a journal entry to credit the expense for 25, indicating that this amount is being deferred. This journal entry should have a reversal date for the next fiscal year, ensuring that the 25 will be reversed and accounted for in the appropriate period. This method allows the customer to properly record the full expense in the current fiscal year while deferring a portion of it to the next fiscal year.Rate this question:
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- 29.
One of your customers has a product you would like to purchase. What must you do to order this product from your existing customer?
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Create a new vendor master record and create a purchase order for this vendor.
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Enter a purchase order for the product but enter the customer number in the vendor field.
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Use the A/P Invoice with a one-time vendor.
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In the customer master, tick the checkbox ;use as vendor', you can then use the customer code in a purchase order.
Correct Answer
A. Create a new vendor master record and create a purchase order for this vendor.Explanation
To order the product from an existing customer, you need to create a new vendor master record for the customer and then create a purchase order for this vendor. This allows you to establish a separate vendor account for the customer and initiate the purchasing process. By creating a vendor master record, you can ensure proper documentation and tracking of the transaction while maintaining a clear distinction between customer and vendor accounts.Rate this question:
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- 30.
Which one of the following statements is true for the correct sequence of the licensing process for SAP Business One?
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Copy the hardware key from the SAP Channel Partner Portal into the License Manager, and assign the license to a user in SAP Business One.
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Copy the hardware key from the License Manager, request a license in the SAP Channel Partner Portal, import the license file into the License Manager, and then assign the license to a user in SAP Business One.
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Assign a license to a user in SAP Business One, then copy the hardware key, and send it to the SAP Channel Partner Portal, then notify the License Manager.
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Assign the license to a user in SAP Business One, copy the hardware key from License Manager, and send it to the SAP Channel Partner Portal, then send the license file to the License Manager.
Correct Answer
A. Copy the hardware key from the License Manager, request a license in the SAP Channel Partner Portal, import the license file into the License Manager, and then assign the license to a user in SAP Business One.Explanation
The correct sequence of the licensing process for SAP Business One is to first copy the hardware key from the License Manager, then request a license in the SAP Channel Partner Portal, import the license file into the License Manager, and finally assign the license to a user in SAP Business One. This ensures that the necessary hardware key is obtained and the license is properly imported and assigned to the user in the system.Rate this question:
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- 31.
When an item is selected in a sales order, which type of prices does the system look for first?
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Prices based on a discount group linked to the Business Partner.
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Special prices set up for the customer.
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Quantity-based prices for an item valid for a given time period.
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Item prices from the price list linked to the Business Partner.
Correct Answer
A. Special prices set up for the customer.Explanation
The system looks for special prices set up for the customer first when an item is selected in a sales order. These special prices are specifically set up for individual customers and may offer discounts or preferential pricing based on their specific needs or agreements. This ensures that the customer receives the most accurate and relevant pricing information for their specific requirements.Rate this question:
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- 32.
Your company sells furniture. One of your best selling products is an dinning room table that comes packaged with four chairs. You also sell the dinning room table and chairs separately. When you sell the package, you would like the sales order to show the package on the top line of the order, with the dinning room table and chairs also shown on separate lines. What is the best way to set this up?
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Set up the chair and dinning room table as separate items. You do not need an item for the package. Create a sales bill of materials for the package.
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Set up the chair and dinning room table as separate items and create a relationship by using item properties. Enter the item properties into a production bill of materials.
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Set up the chair, dinning room table and package as single items. Create a sales bill of materials for the package.
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Set up the chair, dinning room table and package as separate items. Create a production bill of materials to assemble the set for delivery.
Correct Answer
A. Set up the chair, dinning room table and package as single items. Create a sales bill of materials for the package. -
- 33.
In SAP, what does the term "posting key" refer to?
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A unique code that determines how a transaction is recorded in the general ledger.
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A password used to access specific SAP modules.
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A key performance indicator (KPI) used to track business performance.
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A shortcut key used to navigate through SAP menus.
Correct Answer
A. A unique code that determines how a transaction is recorded in the general ledger.Explanation
In SAP, a posting key is a two-digit code that controls the entry of a transaction in the general ledger. It specifies the account type (debit or credit), the type of posting (e.g., invoice, payment, goods receipt), and other relevant information. This ensures that transactions are recorded accurately and consistently in the financial accounting system.Rate this question:
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- 34.
It is not possible to change the language settings of your SAP Business One application. True or False?
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True
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False
Correct Answer
A. FalseExplanation
The given answer is False because it is possible to change the language settings of the SAP Business One application. Users can customize the language settings according to their preferences or requirements. This allows them to use the application in their preferred language, making it more user-friendly and accessible.Rate this question:
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- 35.
What happens when you define the opening balances function and the system currency differs from the local currency?
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The balances are converted automatically.
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It is not possible to enter opening balances when different system and local currencies are used in a company.
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An internal error message appears in red.
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You must manually convert the balances.
Correct Answer
A. The balances are converted automatically.Explanation
When you define the opening balances function and the system currency differs from the local currency, the balances are converted automatically. This means that the system will automatically convert the balances from the local currency to the system currency. This ensures that the opening balances are accurately reflected in the system, regardless of the currency used.Rate this question:
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- 36.
Which of the following are true about the uses of user defined fields in SAP Business One?
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It is a tool used to generate SQL statements.
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It is used for integration into document templates.
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It is used to find objects.
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It is used to format data records.
Correct Answer(s)
A. It is used for integration into document templates.
A. It is used to find objects.Explanation
User defined fields in SAP Business One are used for integration into document templates and to find objects. These fields can be added to document templates to include custom information and can also be used to search and filter data based on specific criteria. This allows for greater flexibility and customization in generating reports and analyzing data within the system.Rate this question:
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- 37.
In SAP Business One Chart of Accounts levels 2 - 4 consist of active or title accounts. True or False?
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True
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False
Correct Answer
A. TrueExplanation
In SAP Business One, Chart of Accounts levels 2 - 4 do consist of active or title accounts. This means that these levels include accounts that are currently in use or serve as headings for other accounts.Rate this question:
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- 38.
Your company sells 10 different products in 20 different sales regions. If you are using account segmentation to track by region you would need ...?
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100 segmented accounts.
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200 segmented accounts.
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20 segmented accounts.
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10 segmented accounts.
Correct Answer
A. 200 segmented accounts.Explanation
If you are using account segmentation to track by region, you would need 200 segmented accounts. This is because there are 20 different sales regions and each region needs to be tracked separately. Therefore, you would need a segmented account for each sales region, resulting in a total of 200 segmented accounts.Rate this question:
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- 39.
As the stock keeper of your company, you want to get a report of items with no transactions in the report period. How will you achieve this?
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Write a query by querying the null value column in the OITM table.
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Run the inventory audit report in SAP Business One.
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Use the built-in query wizard in SAP Business One.
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It is not possible to generate a report that displays items with no transactions.
Correct Answer
A. Run the inventory audit report in SAP Business One.Explanation
Running the inventory audit report in SAP Business One will provide the stock keeper with a report of items with no transactions in the report period. This report will help identify items that have not been involved in any transactions, allowing the stock keeper to take appropriate actions such as restocking or investigating any potential issues.Rate this question:
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- 40.
Which statements are true about password security levels in SAP Business One?
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You can create a custom security level.
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Up to three security levels may be set at one time.
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Only one security level can be set for all users, but it can be changed.
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One of the predefined security levels is low.
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There are five predefined password security levels.
Correct Answer(s)
A. You can create a custom security level.
A. Only one security level can be set for all users, but it can be changed.
A. One of the predefined security levels is low.Explanation
In SAP Business One, it is possible to create a custom security level, allowing for flexibility in defining password security. However, only one security level can be set for all users, although it can be modified if needed. Additionally, one of the predefined security levels is low, indicating that there are multiple predefined levels available.Rate this question:
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- 41.
A new sales employee has started at your company. You have created a user code for this employee. Why do you also need to create an employee master data record?
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For setting up approval procedures.
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For assigning sales commissions.
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For setting up data ownership exceptions.
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For managing sales territories.
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For assigning general authorizations.
Correct Answer
A. For setting up data ownership exceptions.Explanation
Creating an employee master data record is necessary for setting up data ownership exceptions. This means that certain data or records can be exempted from the ownership rules and can be accessed or modified by specific employees, including the new sales employee. This allows for more flexibility and customization in data access and ensures that the new employee can perform their job effectively without any restrictions.Rate this question:
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- 42.
In SAP Business One, you can define banks and house banks. Why do you need to define house banks?
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In order to define payment terms.
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In order to define Business Partner bank accounts.
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In order to deposit incoming checks.
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In order to define credit cards.
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In order to define house banks.
Correct Answer
A. In order to deposit incoming checks.Explanation
Defining house banks is crucial for managing the process of depositing incoming checks efficiently within the SAP Business One system. House banks are used to process and manage incoming payments and deposits, including checks from customers. This ensures that payments are correctly recorded, tracked, and deposited into the appropriate bank accounts associated with your business.Rate this question:
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- 43.
Greg wants to be able to process customer payments even if they differ from the invoice amount by as much as $1. How would you advise Greg to set it up?
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Specify an under/overpayment amount under 'Document Settings' for the incoming payment document. At payment time, the system posts the difference to a predefined G/L account.
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Specify an under/overpayment amount under 'Payment Terms' in the customer master data. At payment time, the system posts the difference to a predefined G/L account.
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Select the 'Allow under/overpayment amount' checkbox in 'Company Details'. At payment time, the system posts the difference to a predefined G/L account.
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Define a maximum tolerance amount in the Business Partner tab of the 'General Settings'. At payment time, the system will post the difference to a predefined G/L account.
Correct Answer
A. Specify an under/overpayment amount under 'Document Settings' for the incoming payment document. At payment time, the system posts the difference to a predefined G/L account.Explanation
To be able to process customer payments even if they differ from the invoice amount by as much as $1, it is advised to specify an under/overpayment amount under 'Document Settings' for the incoming payment document. This allows the system to post the difference to a predefined G/L account during payment time. This ensures that any over or underpayments are accounted for and properly recorded in the financial system.Rate this question:
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- 44.
On the manual internal reconciliation screen you see the following open items for a Business Partner: incoming payment for the amount 1000, invoice for 600, and invoice for 500. How can you reconcile these transactions using manual type internal reconciliation?
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Select the three items and change the amount to reconcile on the payment. You can then reconcile all three transactions.
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Select the three items and change the amount to reconcile on one of the invoices. This invoice stays open with a balance due.
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Select the three items. The system partially reconciles the transactions. The payment stays open with a negative balance due.
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Double-click the payment to see a list of recommended invoices. Select the invoices to reconcile all three items.
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Select the three items and set the reconciliation difference to 0. The system closes the three items and posts a journal entry to the Business Partner for the difference.
Correct Answer
A. Select the three items and change the amount to reconcile on one of the invoices. This invoice stays open with a balance due.Explanation
By selecting the three items and changing the amount to reconcile on one of the invoices, the system allows for the reconciliation of the payment and one of the invoices. However, the remaining invoice will still have a balance due and will remain open. This option allows for partial reconciliation of the transactions.Rate this question:
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- 45.
Which G/L accounts appear in the profit and loss statement?
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Asset and liability accounts
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Asset, sales and expenditure accounts.
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Sales and expenditure accounts.
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All accounts with a non-zero balance.
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Accounts marked with 'Account Type Sales and Expenditure'.
Correct Answer
A. Sales and expenditure accounts.Explanation
The profit and loss statement, also known as the income statement, shows the revenues and expenses of a company during a specific period. Sales and expenditure accounts are the accounts that directly contribute to the calculation of net income or loss. These accounts include sales revenue, cost of goods sold, operating expenses, and other expenses. Therefore, sales and expenditure accounts are the ones that appear in the profit and loss statement.Rate this question:
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- 46.
Your customer has several rent and loan payments due each month. What can you recommend to post these payments quickly each month?
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Create a posting template for each payment, then use this template when you post each journal entry.
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Create a recurring posting for each payment, and set the posting frequency to monthly.
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Create a journal entry for each payment with the repeat checkbox selected, and set the frequency for each repeat posting.
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Batch the payments in a journal voucher, then you only need to post them once a month.
Correct Answer(s)
A. Create a posting template for each payment, then use this template when you post each journal entry.
A. Create a recurring posting for each payment, and set the posting frequency to monthly.Explanation
The recommended approach is to create a posting template for each payment and use this template when posting each journal entry. Additionally, creating a recurring posting for each payment and setting the posting frequency to monthly will help in quickly posting these payments each month. This method allows for efficient and consistent posting of rent and loan payments on a regular basis.Rate this question:
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- 47.
Your customer, Speedy Flowers Ltd, has two delivery addresses they would like to use. How do you set this up?
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Activate the checkbox for multiple addresses in the customer master data, then specify a primary and a secondary delivery address.
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Add each new address on the address tab of the customer master data. After adding each new address, choose the option 'set as shipping address' to designate the address to be used for deliveries.
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On the address tab of the customer master data, choose 'define new' under 'ship to' in order to enter the two delivery addresses.
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Create two contact persons with different addresses for the customer.
Correct Answer
A. On the address tab of the customer master data, choose 'define new' under 'ship to' in order to enter the two delivery addresses.Explanation
To set up two delivery addresses for Speedy Flowers Ltd, you need to choose 'define new' under 'ship to' on the address tab of the customer master data. This option allows you to enter and save the two delivery addresses for the customer, ensuring that both addresses are available for deliveries. This is the correct method for setting up multiple delivery addresses for a customer in the system.Rate this question:
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- 48.
For which Business Partner types can a sales quotation be created?
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All customers.
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All leads.
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All vendors.
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Only leads who have been used in sales opportunities.
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Only vendors whose Business Partners master is flagged with 'use as customer'.
Correct Answer(s)
A. All customers.
A. All leads.Explanation
A quotation can be created for all customers and all leads. This means that both existing customers and potential customers (leads) can receive a quotation for products or services. It is not limited to only specific types of customers or leads.Rate this question:
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- 49.
Which of the following modules is NOT a core component of SAP ERP?
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Financial Accounting (FI)
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Controlling (CO)
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Customer Relationship Management (CRM)
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Sales and Distribution (SD)
Correct Answer
A. Customer Relationship Management (CRM)Explanation
While CRM is an important aspect of many businesses, it's not considered a core module within the SAP ERP system. The core modules of SAP ERP include Financial Accounting (FI), Controlling (CO), Sales and Distribution (SD), Materials Management (MM), Production Planning (PP), Quality Management (QM), and Human Capital Management (HCM). These modules handle the essential functions of an enterprise, such as managing finances, resources, production, and human resources. CRM, on the other hand, is often a separate system that integrates with the core ERP modules.Rate this question:
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Oct 22, 2024Quiz Edited by
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Apr 27, 2009Quiz Created by
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