Accounts Receivable Quiz Questions: Test!
(172).jpg "Accounts Receivable Quiz Questions: Test!")
Did you know accounts receivable are legally enforceable claims for payment arranged by a business for goods or services supplied that customers have ordered but not paid? For this quiz, you must know things like what the transaction code is to display a document and the correct sequence of tasks in the SAP lockbox process. This amazing quiz will help you understand accounts receivable.
- 1.What is the transaction code to Display a Document?
- A.
FBL5N
- B.
F.27
- C.
FB03
- D.
FD10N
- 2.You need to clear customer invoices using a separate transaction for ad hoc authorizations.
- A.
True
- B.
False
- 3.You need to settle authorizations for both the sales order and ad hoc scenarios.
- A.
True
- B.
False
- 4.What is the correct sequence of tasks in the SAP Lockbox process?
- A.
FLB1, FLB2, ZFIAR
- B.
ZFIAR, FLB1, FLB2
- C.
ZFIAR, FLB2, FLB1
- D.
None of the above
- 5.A check is defined as _______ if neither the customer nor payment-related invoices can be identified.
- A.
Applied
- B.
Unprocessed
- C.
Partially applied
- D.
Partially processed
- 6.What transaction is used for any form of payment other than lockbox and credit cards (Ex. cash, check, wire transfer, ACH, etc)?
- A.
F-28
- B.
FB08
- C.
F.80
- D.
F32
- 7.How are open items cleared in SAP?
- A.
Transactions are archived, then purged from the current billing cycle
- B.
Transaction status is changed from “active” to either “paid” or “past due”
- C.
Fields with missing information about the account or transaction are completed
- D.
Payments are applied to accounts with open items to clear them
- 8.Open items are:
- A.
Accounts with no outstanding balance due
- B.
Transactions that have been cleared and are in the archiving queue
- C.
Accounts with no activity in the current billing cycle
- D.
Transactions that have not been cleared and remain on the customer’s account.
- 9.Information about a journal entry document, such as the document date and document number, is displayed in the:
- A.
Document abstract
- B.
Document header
- C.
Document summary statement
- D.
Document footnotes
- 10.In which module of SAP is the billing document created?
- A.
Sales & Distribution (SD)
- B.
Warehouse Management (WM)
- C.
Customer Relations Management (CRM)
- D.
None of the above
- 11.From where is the accounting document or “invoice” generated?
- A.
Billing document in Sales & Distribution
- B.
Credit memo in Sales & Distribution
- C.
Invoice master in Financial Accounting
- D.
None of the above
- 12.How is Accounts Receivable part of the Quote to Cash (Q2C) end-to-end process?
- A.
It is not part of the P2P process
- B.
It provides a historical record of vendor reliability
- C.
It manages the collection and processing of customer receivables
- D.
It provides a real time perspective on global inventory levels.
- 13.All postings in AR are recorded directly in General Ledger.
- A.
True
- B.
False
- 14.SAP Finance organizational elements include:
- A.
P & L, Controlling Area, Asset Control Area
- B.
Financial Accounting, Controlling Area, Operating Concern
- C.
Controlling Area, Credit Control Area, Operating Concern
- D.
Credit Control Area, Company Code, Accounting Unit
- 15.What core SAP Finance module is the AR Application Component part of?
- A.
Profitability Analysis
- B.
Cost Accounting
- C.
Financial Accounting (FI)
- D.
None of the above
- 16.What is the company code?
- A.
An independent accounting unit
- B.
A number assigned by the SEC for all publicly traded companies.
- C.
A number that identifies both the customer and Agent for a purchase transaction
- D.
A number used to identify a specific organizational element
- 17.Why is organizational structure important?
- A.
It establishes parameters that allow for compliance with business rules.
- B.
It forms a framework that supports all business activities
- C.
It clearly defines resources needed and facilitates cross training
- D.
The structure is built to accommodate expansion due to technological innovation
- 18.What are SAP organizational elements?
- A.
The smallest segment of an end-to-end SAP procedure
- B.
Programming object that implement the overall business protocol
- C.
Structures representing legal and/or organizational views of an enterprise
- D.
The internal work teams responsible for determining financial policy and process
Questions: 10 | Attempts: 807 | Last updated: Dec 30, 2020
-
Sample QuestionA company has adopted Statement of Financial Accounting Standards No. 115, Accounting for Certain Investments in Debt and Equity Securities (as amended by SFAS 130). It should report the marketable equity securities that it has classified as trading at:
Questions: 10 | Attempts: 618 | Last updated: Sep 7, 2020
-
Sample QuestionPer payment type a separate batch needs to be set up.
Questions: 20 | Attempts: 596 | Last updated: Dec 30, 2020
-
Sample QuestionRegulation T applies to which of the following? a. Municipal securities b. Securities listed on a registered stock exchange c. Securities listed on Nasdaq d. U.S. Treasury
Back to top