Finance Assessment
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- 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 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.
- 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.Select all answers that are correct. 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 one answer. 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.
- 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.Select one answer. 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.Select all answers that are correct. 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
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