Finance Assessment Ultimate Trivia Quiz

13 Questions | Total Attempts: 2322

SettingsSettingsSettings
Please wait...
Finance Assessment Ultimate Trivia Quiz

Finance is the management of abundant sums of money, which large companies typically oversee. Finance involves a myriad of principles. For this quiz, you will be required to know whether parked documents reduce the budget, why invoices are parked, what the accounts payable approver do before they post a parked invoice and the two types of receipts. This quiz will bring you into the financial world. Good luck to you.


Questions and Answers
  • 1. 
    The three-way match is used to verify that goods and/or services received do not exceed the amount in the purchase order and the amount invoiced matches the amount received.
    • A. 

      True

    • B. 

      False

  • 2. 
    Parked documents reduce the budget.
    • A. 

      True

    • B. 

      False

  • 3. 
    Parked documents create an account posting and the amount is included in the Financial Statement. 
    • A. 

      True

    • B. 

      False

  • 4. 
    Invoices are parked for the following reasons: 
    • A. 

      Segregation of duties between processing and approving functions.

    • B. 

      Funds Reservations not completed.

    • C. 

      Unsuccessful three-way match (e.g. invoice amount is higher than the GR amount)

  • 5. 
    What must the Accounts Payable Approver do before he/she posts a parked invoice?
    • A. 

      Verify the three way match that goods and/or services received do not exceed the amount in the purchase order and the amount invoiced matches the amount received.

    • B. 

      Verify that the invoice has the correct data for the vendor, bank, GL code, etc.

    • C. 

      Post a Journal Voucher entry.

  • 6. 
    You can change a parked invoice before posting it.
    • A. 

      True

    • B. 

      False

  • 7. 
    Posting an invoice is the same thing as approving the invoice. 
    • A. 

      True

    • B. 

      False

  • 8. 
    Select the correct sequence of tasks for automatic payment processing:
    • A. 

      Parameters entered, Payment Proposal created, Payment Run carried out, Schedule Print carried out.

    • B. 

      Payment Proposal created, Parameters entered, Payment Run carried out, Schedule Print carried out.

    • C. 

      Payment Proposal created, Parameters entered, Schedule Print carried out, Payment Run carried out.

  • 9. 
    What are the two types of receipts? 
    • A. 

      Direct Cash Transfer and Electronic Funds Transfer.

    • B. 

      Cheques and Electronic Funds Transfer.

    • C. 

      Cheques and Direct Cash Transfer.

  • 10. 
    Even if a receipt’s origin is unknown, it must be posted.
    • A. 

      True

    • B. 

      False

  • 11. 
    The date of a receipt should be: 
    • A. 

      The date of posting in the system.

    • B. 

      The value date of the receipt.

    • C. 

      The date of parking in the system.

  • 12. 
    In which situations is manual clearing necessary?
    • A. 

      When bank activity is provided.

    • B. 

      When an electronic bank statement is unavailable.

    • C. 

      When automatic clearing is unsuccessful.

  • 13. 
    If an automated bank statement is not available, that bank statement can still be reconciled in SAP.
    • A. 

      True

    • B. 

      False

Back to Top Back to top