Fi03b Credit & Collections Kc

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Fi03b Credit & Collections Kc

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Questions and Answers
  • 1. 
    In order to manage the credit exposure of a customer, a credit master record must be created for the customer.
    • A. 

      True

    • B. 

      False

  • 2. 
    Describe the steps of the dunning process.
    • A. 

      Pull account overdue report, run dunning program, print dunning notices/letters

    • B. 

      Maintain accounts, run dunning program, print dunning notices/letters.

    • C. 

      Maintain accounts, assign dunning procedures, run dunning program

    • D. 

      Maintain accounts, assign dunning procedures, run dunning program, print dunning notices/letters.

  • 3. 
    During a dunning run, the system:
    • A. 

      Updates all billing data

    • B. 

      Lists all receivables by vendor

    • C. 

      The system analyzes accounts to identify items that are overdue

    • D. 

      None of the above

  • 4. 
    What is the transaction code to Display a Document?
    • A. 

      FBL5N

    • B. 

      F.27

    • C. 

      FB03

    • D. 

      FD10N

  • 5. 
    Fill in the Blank: 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. 
    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

  • 7. 
    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.

  • 8. 
    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

  • 9. 
    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

  • 10. 
    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

  • 11. 
    How is Accounts Receivable part of the Procure-to-Pay (P2P) 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.

  • 12. 
    What information can you gather from the credit control report?
    • A. 

      Outstanding Orders

    • B. 

      Credit limits

    • C. 

      Outstanding receivables

    • D. 

      All of the above

  • 13. 
    What is a 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

  • 14. 
    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

  • 15. 
    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