SAP S/4 Hana Fi

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  • 1/63 Questions

    Which data do you define on the bank master record? Note: There are 2 correct answers to this question.

    • Address data and control data
    • A unique bank country 
    • Corresponding business area
    • Payment and dunning information
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About This Quiz

This SAP S\/4 HANA FI quiz assesses knowledge on journal entries, accruals, noted items, data aging, and asset management within SAP's financial module. It is designed for professionals aiming to enhance their skills in financial operations using SAP S\/4 HANA.

SAP S/4 Hana Fi - Quiz

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  • 2. 

    Which business partner characteristic is mapped to the customer and supplier account groups? Please choose the correct answer.

    •  Business partner category

    • Business partner grouping

    • Business partner role

    • Business partner type.

    Correct Answer
    A. Business partner grouping
    Explanation
    The business partner grouping is mapped to the customer and supplier account groups. This means that the customers and suppliers are categorized and grouped based on certain characteristics or criteria. The business partner grouping helps in organizing and managing the different types of customers and suppliers in a systematic manner. It allows for easier identification and classification of customers and suppliers based on their specific characteristics or requirements.

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  • 3. 

    You want to define a validation for the combination of general ledger account and cost center. For which call-up point do you define this validation? Please choose the correct answer.

    • Complete document

    • Document header

    • Document line

    • Cost of sales accounting

    Correct Answer
    A. Document line
    Explanation
    For the given question, the correct answer is "Document line." This means that the validation for the combination of general ledger account and cost center is defined at the document line level. This implies that the validation will be applied to each individual line item within a document, ensuring that the combination of general ledger account and cost center is accurate and valid for each line.

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  • 4. 

    A document has several line items, with different reason codes entered. For the automatic payment, which correspondence type does the system choose?

    • The one in the line item with the largest amount

    • The one in the first line item

    • The one assigned to the tolerance group

    • The system prompts for the user to assign one 

    Correct Answer
    A. The one assigned to the tolerance group
    Explanation
    The system chooses the correspondence type assigned to the tolerance group for the automatic payment. This means that the correspondence type used for the payment will be determined based on the tolerance group settings.

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  • 5. 

    Identify the steps performed during the general ledger closing operations for the fiscal year. There are 3 correct answers to this question.

    • Vendor invoices are posted.

    • Accruals are carried out.

    • The balance carry forward program is run.

    • Foreign currency documents are valuated.

    Correct Answer(s)
    A. Accruals are carried out.
    A. The balance carry forward program is run.
    A. Foreign currency documents are valuated.
  • 6. 

    Which of the following options are included in the Asset Explorer? 3 answers

    • Drill down to Financial Accounting (FI) document. 

    • Post documents.

    • Display depreciation calculation.

    • Drill down to reports.

    Correct Answer(s)
    A. Drill down to Financial Accounting (FI) document. 
    A. Display depreciation calculation.
    A. Drill down to reports.
    Explanation
    The Asset Explorer includes the options to drill down to Financial Accounting (FI) document, display depreciation calculation, and drill down to reports. These options allow users to navigate and access specific financial accounting documents related to assets, view depreciation calculations for assets, and generate reports related to assets.

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  • 7. 

    When you create multiple similar asset master records, which of the following fields allow you to make separate entries for each individual asset? There are 3 correct answers to this question.

    • License plate number

    • Inventory number

    • Cost center

    • Description of the asset .

    Correct Answer(s)
    A. Inventory number
    A. Cost center
    A. Description of the asset .
    Explanation
    The fields of Inventory number, Cost center, and Description of the asset allow you to make separate entries for each individual asset. The Inventory number is a unique identifier for each asset, the Cost center allows you to assign different cost centers for each asset, and the Description of the asset field allows you to provide specific details or descriptions for each asset. These fields ensure that each asset record is distinct and can be managed separately.

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  • 8. 

    You want to edit a dunning proposal. What actions can you perform to edit a dunning proposal? There are 3 correct answers to this question.

    • Change the dunning data of an account.

    • Lower the dunning level of an item.

    • Block a line item.

    • Change a document.

    • Block an account.

    Correct Answer(s)
    A. Lower the dunning level of an item.
    A. Block a line item.
    A. Block an account.
    Explanation
    The correct answers are lower the dunning level of an item, block a line item, and block an account. These actions allow you to make changes to a dunning proposal. Lowering the dunning level of an item means reducing the severity of the dunning process for a specific item. Blocking a line item means preventing it from being included in the dunning process altogether. Blocking an account means preventing any items associated with that account from being included in the dunning process. These actions give you control over the dunning process and allow you to customize it according to your needs.

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  • 9. 

    You are asked to explain the assets under construction functionality in SAP S/4HANA. What should you highlight? There are 2 correct answers to this question. 

    • It is possible to post credit memos, even after assets under construction are fully capitalized. 

    • It is possible to calculate and post depreciation in the balance sheet depreciation area for assets under construction.Option 2

    • It is impossible to use assets under construction with Investment Management.

    • It is possible to post special tax depreciation and investment support for assets under construction.

    Correct Answer(s)
    A. It is possible to post credit memos, even after assets under construction are fully capitalized. 
    A. It is possible to post special tax depreciation and investment support for assets under construction.
    Explanation
    The assets under construction functionality in SAP S/4HANA allows for the posting of credit memos, even after the assets under construction are fully capitalized. This means that any adjustments or changes to the asset value can still be made even after it has been fully capitalized. Additionally, special tax depreciation and investment support can also be posted for assets under construction, providing further flexibility and customization options for managing these assets.

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  • 10. 

    Which closing activities are used in external reporting as per SAP best practices? There are 2 correct answers to this question.

    • Reclassify receivables and payable's.

    • Update product cost estimates.

    • Execute the plan cost center assessment cycle. 

    • Perform valuations of open items in foreign currency.

    Correct Answer(s)
    A. Reclassify receivables and payable's.
    A. Perform valuations of open items in foreign currency.
    Explanation
    The correct answers for the question are "Reclassify receivables and payable's" and "Perform valuations of open items in foreign currency." In external reporting, it is important to accurately classify and report receivables and payable's to provide a clear picture of the financial position. Additionally, performing valuations of open items in foreign currency is necessary to account for any fluctuations in exchange rates and accurately report the financial results.

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  • 11. 

    What is the order of configuration within the SAP Financial Closing cockpit? What are the configurations required for SAP Financial closing cockpit?

    • 1. Create tasks; 2. Define dependencies; 3. Create template; 4. Create task list; 5. Release task list.

    • 1. Create tasks; 2. Define dependencies; 3. Create task list; 4. Create template; 5. Release task list.

    • 1. Create template; 2. Create tasks; 3. Create task list; 4. Define dependencies; 5. Release task list.

    • 1. Create template; 2. Create tasks; 3. Define dependencies; 4. Create task list; 5.Release task list

    Correct Answer
    A. 1. Create template; 2. Create tasks; 3. Define dependencies; 4. Create task list; 5.Release task list
    Explanation
    The correct answer is 1. Create template; 2. Create tasks; 3. Define dependencies; 4. Create task list; 5. Release task list. This is the correct order of configuration within the SAP Financial Closing cockpit. First, a template is created, which serves as a blueprint for the tasks. Then, tasks are created based on the template. After that, dependencies between the tasks are defined to establish the order in which they should be executed. Once all the tasks are created and dependencies are defined, a task list is created, which is a collection of all the tasks. Finally, the task list is released, making it ready for execution.

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  • 12. 

    What items are NOT cleared by the automatic clearing program? There are 3 correct answers to this question

    • Items with withholding tax 

    • Items with value added tax 

    • Statistical postings

    • Items with sales and use tax 

    • Noted items.

    Correct Answer(s)
    A. Items with withholding tax 
    A. Statistical postings
    A. Noted items.
  • 13. 

    Identify the fields that cannot be changed while changing parked documents. There are 3 correct answers to this question.

    • Account assignment objects

    • Document type or document number

    • Currency

    • Company code

    Correct Answer(s)
    A. Document type or document number
    A. Currency
    A. Company code
    Explanation
    While changing parked documents, there are certain fields that cannot be changed. These include the document type or document number, currency, and company code. The document type or document number uniquely identifies the document and cannot be altered. Similarly, the currency and company code are essential for financial transactions and cannot be modified during the process of changing parked documents.

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  • 14. 

    Which of the following original Management Accounting objects can you assign in the asset master record? There are 3 correct answers to this question.

    • Cost center

    • Cost element

    • Activity type

    • Order

    Correct Answer(s)
    A. Cost center
    A. Activity type
    A. Order
    Explanation
    In the asset master record, you can assign the original Management Accounting objects such as cost center, activity type, and order. The cost center represents a specific area or department within an organization where costs are incurred. Activity type refers to a specific activity or process that consumes resources and incurs costs. An order is a specific project or job for which costs are tracked and managed. By assigning these objects in the asset master record, it allows for better tracking and allocation of costs related to the assets.

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  • 15. 

    Which data is controlled by the asset class? [3 correct]

    • Screen layout

    • Number ranges

    • Capitalization date

    • Default transaction type for asset posting

    • Account determination

    Correct Answer(s)
    A. Screen layout
    A. Number ranges
    A. Account determination
    Explanation
    The asset class controls the screen layout, number ranges, and account determination. The screen layout refers to the arrangement and organization of fields and tabs in the asset master record. Number ranges are used to assign unique identification numbers to assets within a specific asset class. Account determination determines the general ledger accounts that will be used for posting transactions related to assets in a particular asset class.

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  • 16. 

    You want to configure the default baseline date for the payment terms of an incoming invoice. From which date can you derive the baseline date? There are 3 correct answers to this question.

    • Posting date

    • Document date

    • Value date

    • Entry date

    Correct Answer(s)
    A. Posting date
    A. Document date
    A. Entry date
    Explanation
    The baseline date for the payment terms of an incoming invoice can be derived from the posting date, document date, or entry date. These dates are commonly used to determine when the payment is due and help in setting the default baseline date for the payment terms.

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  • 17. 

    You want to post journal entries in a special period. Which conditions must be met? There are 2 correct answers to this question

    • You must have specific authorization to post in special periods.

    •  The special period must be open for posting in the period control.

    • The balance carry-forward to the new fiscal year must have taken place.

    • You must enter a posting date in the last posting period.

    Correct Answer(s)
    A.  The special period must be open for posting in the period control.
    A. You must enter a posting date in the last posting period.
    Explanation
    To post journal entries in a special period, two conditions must be met. Firstly, the special period must be open for posting in the period control. This means that the system must allow postings to be made in that specific period. Secondly, the user must enter a posting date in the last posting period. This ensures that the journal entries are recorded in the correct period. The other two conditions mentioned in the question are not necessary for posting in a special period.

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  • 18. 

    What are the features of the Accrual Engine in SAP S/4 HANA?

    • The FI reversal is NOT supported.

    • Complex postings with more than two line items are NOT possible.

    • All currencies of general ledger are supported.

    • The fiscal year variant of the general ledger is supported.

    Correct Answer(s)
    A. All currencies of general ledger are supported.
    A. The fiscal year variant of the general ledger is supported.
    Explanation
    The Accrual Engine in SAP S/4 HANA supports all currencies of the general ledger, meaning it can handle transactions in multiple currencies. Additionally, it supports the fiscal year variant of the general ledger, allowing for flexibility in defining the fiscal year structure.

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  • 19. 

    Which of the following are valid settlement receivers when you perform settlement for an asset under construction on a line item basis? There are 2 correct answers to this question.

    • Profit center

    • Cost center

    • Fixed asset

    • Functional area

    Correct Answer(s)
    A. Cost center
    A. Fixed asset
    Explanation
    When performing settlement for an asset under construction on a line item basis, valid settlement receivers include cost center and fixed asset. A cost center is responsible for incurring costs and can receive settlement. A fixed asset, which represents a long-term tangible asset, can also receive settlement. Profit center and functional area are not valid settlement receivers in this scenario.

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  • 20. 

    What information is provided when you execute the balance audit trail? Please choose the correct answer.

    • A list of changes of maintained sensitive fields in general ledger accounts

    • The open account balances for customer accounts and supplier accounts

    • The starting balance and the yearly changes to the balance of a general ledger account

    • A comparison of general ledger account balances across ledgers.

    Correct Answer
    A. The starting balance and the yearly changes to the balance of a general ledger account
    Explanation
    The balance audit trail provides information about the starting balance and the yearly changes to the balance of a general ledger account. This means that it tracks the initial balance of the account and any adjustments or changes made to it throughout the year. This information is important for financial analysis and ensuring the accuracy of the general ledger accounts. It helps in identifying any discrepancies or errors in the account balances and provides a clear picture of the account's financial activity over time.

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  • 21. 

    Which of the following statements best describe how core data services (CDS) are developed? Please choose the correct answer. 

    • They are developed in the ABAP layer of the SAP S/4HANA system by the Analytics end user.

    • They are developed in the SAP HANA database layer by the Analytics key user.

    • They are developed in the ABAP layer of the SAP S/4HANA system by the IT user.

    • They are developed in the SAP HANA database layer by the IT user.

    Correct Answer
    A. They are developed in the ABAP layer of the SAP S/4HANA system by the IT user.
  • 22. 

    Which data model is used for SAP S/4HANA?

    • Online transactional processing (OLTP) and online analytical processing (OLAP) each using data from separate tables.

    • Online transactional processing (OLTP) for on-premise deployments and online analytical processing (OLAP)for Cloud deployments.

    • Online analytical processing (OLAP) that is based on aggregated tables and indexes.

    • Online transactional processing (OLTP) and online analytical processing (OLAP) both running on a single system.

    Correct Answer
    A. Online transactional processing (OLTP) and online analytical processing (OLAP) both running on a single system.
    Explanation
    The correct answer is that SAP S/4HANA uses online transactional processing (OLTP) and online analytical processing (OLAP) both running on a single system. This means that both transactional and analytical tasks can be performed on the same system, eliminating the need for separate systems and improving efficiency. By combining OLTP and OLAP, SAP S/4HANA allows for real-time data processing and analysis, enabling businesses to make faster and more informed decisions.

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  • 23. 

    To which organizational unit you can assign validation or substitution?

    • Company code

    • Functional area

    • Business area

    • Division

    Correct Answer
    A. Company code
    Explanation
    Validation and substitution are typically assigned to the company code in an organization. The company code represents a legally independent entity within the organization and is responsible for financial accounting and reporting. Assigning validation and substitution to the company code allows for control and customization of business processes specific to that entity. It ensures that data entered in the system meets certain criteria and can be substituted or modified based on predefined rules. This helps maintain data integrity and consistency within the company code's operations.

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  • 24. 

    Which items can you clear with the automatic clearing program?

    • Statistical postings

    • Bank transaction items

    • Noted items

    • Items with withholding tax entries

    Correct Answer
    A. Bank transaction items
    Explanation
    The automatic clearing program can clear Bank transaction items.

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  • 25. 

    Which of the following methods does the depreciation key define? There are 3 correct answers to this question.

    • Base method

    • Multilevel method

    • Period control method

    •  Asset sheet valuation method

    Correct Answer(s)
    A. Base method
    A. Multilevel method
    A. Period control method
    Explanation
    The depreciation key defines the base method, multilevel method, and period control method. The base method determines the calculation of depreciation based on the acquisition value and useful life of the asset. The multilevel method allows for different depreciation rates to be applied to different portions of an asset's useful life. The period control method determines how the depreciation is calculated over specific periods, such as monthly or yearly. These methods are all defined by the depreciation key to accurately calculate and allocate depreciation expenses.

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  • 26. 

    Identify some of the fields related to the depreciation area in the asset master record. There are 3 correct answers to this question.

    • Asset description

    • Depreciation key

    • Useful life

    • Scrap value

    Correct Answer(s)
    A. Depreciation key
    A. Useful life
    A. Scrap value
    Explanation
    The depreciation area in the asset master record includes fields such as the depreciation key, which determines the calculation method for depreciation, the useful life of the asset, which indicates how long the asset is expected to be used before it is fully depreciated, and the scrap value, which is the estimated residual value of the asset at the end of its useful life. These fields are important for accurately calculating and recording depreciation expenses for the asset.

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  • 27. 

    Which of the following statements best describe a noted item? There are 2 correct answers to this question. 

    • It can be accessed by the payment program. 

    • It updates the Sub ledger and the general ledger.

    • It can be used to remind the user about due payments. 

    • It has an automatic statistical offsetting entry. 

    Correct Answer(s)
    A. It can be accessed by the payment program. 
    A. It can be used to remind the user about due payments. 
    Explanation
    A noted item can be accessed by the payment program, meaning that it can be used as a reference for payment processing. Additionally, it can be used to remind the user about due payments, suggesting that it serves as a reminder for outstanding payment obligations.

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  • 28. 

    Which of the following parameters can be changed on a time-dependent basis? There are 3 correct answers to this question.

    • Depreciation key

    • Useful life (year or period)

    • Variable depreciation portion

    • Depreciation start date

    Correct Answer(s)
    A. Depreciation key
    A. Useful life (year or period)
    A. Variable depreciation portion
    Explanation
    The parameters that can be changed on a time-dependent basis are the depreciation key, useful life (year or period), and variable depreciation portion. The depreciation key determines the method and calculation of depreciation, which can be modified over time. The useful life can also be adjusted based on changes in the asset's expected lifespan. The variable depreciation portion allows for changes in the depreciation amount based on specific criteria. These parameters can be altered periodically to reflect updated information and changes in the asset's condition or usage.

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  • 29. 

    What kind of customization can users do on their launchpad? There are 2 correct answers to this question.

    • Change the icons on tiles.

    • Create their own tile groups.

    • Change the name of tile groups

    • Change the names of tiles.

    Correct Answer(s)
    A. Create their own tile groups.
    A. Change the name of tile groups
    Explanation
    Users can customize their launchpad by creating their own tile groups and changing the name of tile groups. This allows them to organize their tiles according to their preferences and easily access the apps or features they use frequently. By creating custom tile groups, users can categorize their tiles based on different themes or functions. Additionally, changing the name of tile groups allows users to personalize the labels and make them more meaningful or descriptive.

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  • 30. 

    1. Which data sections are part of every asset class? There are 2 correct answers to this question.

    • Depreciation data section

    • Asset value date section

    • Transaction type section

    • Master data section

    Correct Answer(s)
    A. Depreciation data section
    A. Master data section
    Explanation
    The depreciation data section and master data section are part of every asset class. The depreciation data section includes information about the depreciation method, useful life, and other factors related to the asset's depreciation. The master data section contains general information about the asset, such as its description, location, and responsible department. These two sections are essential for managing and tracking assets effectively.

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  • 31. 

    What is selected when activity costs are implemented?

    • Balance sheet

    • Primary costs

    • Secondary costs

    • Revenues

    Correct Answer
    A. Secondary costs
    Explanation
    When activity costs are implemented, the selected option is "Secondary costs". This refers to costs that are not directly associated with the primary activities of a business, but are still necessary for its operations. These costs include administrative expenses, maintenance costs, and other overhead expenses. By implementing activity costs, businesses can better understand and allocate these secondary costs, allowing for more accurate financial analysis and decision-making.

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  • 32. 

    On which levels do you maintain data for an integrated customer account? Note: There are 3 correct answers to this question.

    • Sales area

    • General data at the client level

    • Profitability segment

    • Company code

    • Purchasing organization 

    Correct Answer(s)
    A. Sales area
    A. General data at the client level
    A. Company code
    Explanation
    The data for an integrated customer account is maintained at the sales area level, general data at the client level, and company code level. The sales area level includes information specific to a particular sales area, such as sales organization, distribution channel, and division. The general data at the client level includes information that is applicable to the entire client, such as address, contact details, and credit limit. The company code level includes information related to financial accounting, such as payment terms and tax settings.

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  • 33. 

    Which attributes should you consider when defining asset number ranges? There are 2 correct answers to this question

    • Each asset number range has to be assigned to a unique asset class.

    • Asset number ranges are defined at chart of depreciation level.

    • Asset number ranges are defined for asset classes and are company code specific. 

    • Each asset class can have either an internal or external number range.

    Correct Answer(s)
    A. Asset number ranges are defined for asset classes and are company code specific. 
    A. Each asset class can have either an internal or external number range.
    Explanation
    When defining asset number ranges, it is important to consider that asset number ranges are defined for asset classes and are company code specific. This means that different asset classes within the same company code can have different number ranges. Additionally, each asset class can have either an internal or external number range, allowing for flexibility in how assets are numbered and tracked.

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  • 34. 

    It is common for companies to receive invoices for the previous fiscal year at the beginning of the new fiscal year. Which dates must have the same fiscal year in the document entry?

    • Posting date and entry date

    • Document date and posting date

    • Document date and asset value date

    • Posting date and asset value date

    Correct Answer
    A. Posting date and asset value date
    Explanation
    In order for the company to receive invoices for the previous fiscal year at the beginning of the new fiscal year, the posting date and asset value date must have the same fiscal year in the document entry. This ensures that the expenses or assets are recorded in the correct fiscal year and do not affect the financial statements of the new fiscal year. The document date and posting date may not necessarily align with the fiscal year change, and the document date and asset value date are not directly related to the fiscal year.

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  • 35. 

    We want to post a Special Asset Class Shown Separately in the G/L. What fields do you need to configure in order to make this happen? (2 corrects)

    • New Financial Statement Version

    • New Asset Class

    • New Depreciation Area

    • Account Determination Key

    Correct Answer(s)
    A. New Asset Class
    A. Account Determination Key
    Explanation
    To post a Special Asset Class Shown Separately in the G/L, two fields need to be configured: New Asset Class and Account Determination Key. The New Asset Class is necessary to categorize the asset correctly, while the Account Determination Key is required to determine the G/L account for posting the asset transactions. These two configurations ensure that the special asset class is properly accounted for and shown separately in the G/L.

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  • 36. 

    Which of the following statements apply to the special general ledger types of noted items? There are 3 correct answers to this question.

    •  No postings are made on an offsetting account

    • No zero-balance check is made in the system.

    • Noted items are posted to an alternative reconciliation account.

    • No special general ledger indicators of your own can be created of this type. 

    • The account for the offsetting entry is selected automatically.

    Correct Answer(s)
    A.  No postings are made on an offsetting account
    A. No zero-balance check is made in the system.
    A. Noted items are posted to an alternative reconciliation account.
    Explanation
    The first statement is correct because no postings are made on an offsetting account for special general ledger types of noted items. The second statement is correct because no zero-balance check is made in the system for these types of items. The third statement is correct because noted items are posted to an alternative reconciliation account.

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  • 37. 

    In your SAP S/4HANA system, you report financial values for three separate accounting principles. You post an acquisition for an asset that is capitalized in a single accounting principle. If you use the application to post integrated asset acquisitions, how many documents will the system post?

    • 4

    • 3

    • 2

    • 1

    Correct Answer
    A. 2
    Explanation
    When posting an integrated asset acquisition in SAP S/4HANA system, the system will post two documents. One document will be posted for the acquisition itself, and another document will be posted for the capitalization of the asset in the accounting principle. This ensures that the financial values are recorded correctly for both the acquisition and the accounting principle.

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  • 38. 

    ¿Which fields can be edited before a parked document is posted?

    • Amount

    • Account

    • Posting date

    • Currency

    • Document type

    Correct Answer(s)
    A. Amount
    A. Account
    A. Posting date
    Explanation
    Before a parked document is posted, the fields that can be edited are the Amount, Account, and Posting date. The Amount field can be adjusted if there are any changes in the transaction amount. The Account field can be modified if there is a need to select a different account for the transaction. The Posting date can be changed if the document needs to be posted on a different date. However, the Currency and Document type fields cannot be edited before posting the parked document.

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  • 39. 

    What do you configure to allow cross-company-code transactions? Note- There are 2 correct answers to this question.

    • Account type

    • Clearing accounts

    • Posting keys

    • Special G/L indicator

    Correct Answer(s)
    A. Clearing accounts
    A. Posting keys
    Explanation
    To allow cross-company-code transactions, you need to configure clearing accounts and posting keys. Clearing accounts are used to offset open items between different company codes, ensuring accurate reconciliation. Posting keys determine the type of transaction and the relevant general ledger accounts to be affected. By configuring both clearing accounts and posting keys, you enable the system to process cross-company-code transactions correctly and efficiently.

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  • 40. 

    Which of the following are standard correspondence types? Note: There are 3 correct answers to this question.

    • Document journal

    • Payment proposal

    • Account statement

    • Open items list

    • Payment notice 

    Correct Answer(s)
    A. Account statement
    A. Open items list
    A. Payment notice 
    Explanation
    The standard correspondence types mentioned in the question are account statement, open items list, and payment notice. These types of correspondence are commonly used in various business processes. An account statement provides a summary of transactions and balances for a specific account. An open items list is a document that lists outstanding items or tasks that need to be resolved or completed. A payment notice is a communication sent to inform a recipient about a payment due or received. These correspondence types are essential for maintaining accurate financial records and facilitating communication between parties involved in financial transactions.

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  • 41. 

    In which sections of the financial statement version can you find values related to accounts for sales deductions and material expenses?

    • Sales deduction in profit and loss sections, Materials expenses in profit and loss section

    • Sales deductions in balance sheet section Material expenses in profit and loss section

    • Sales deduction in profit and loss sections, Materials expenses in balance sheet section

    • Sales deduction in balance sheet sections, Materials expenses in balance sheet section

    Correct Answer
    A. Sales deduction in profit and loss sections, Materials expenses in balance sheet section
    Explanation
    Sales deductions and material expenses are both related to the income statement or profit and loss statement. Sales deductions are typically recorded as a reduction in revenue, which is reported in the profit and loss section. Material expenses, on the other hand, are part of the cost of goods sold and are also reported in the profit and loss section. However, the balance sheet does not typically include these specific accounts. Therefore, the correct answer is "Sales deduction in profit and loss sections, Materials expenses in balance sheet section".

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  • 42. 

    You create 3 depreciation areas and need to account for acquiring an external asset using the ledger approach. How many docs are created?

    • 1

    • 3

    • 4

    • 6

    Correct Answer
    A. 4
    Explanation
    When creating 3 depreciation areas to account for acquiring an external asset using the ledger approach, 4 documents are created. This is because each depreciation area requires its own document, and there is an additional document created for the acquisition of the asset. Therefore, a total of 4 documents are needed in this scenario.

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  • 43. 

    You need to use foreign currency valuation in the ledger solution. Which objects must you define in Customizing? Note: There are 3 correct answers to this question. 

    •  Simulation extension ledger

    • Account determinations

    • Value adjustment keys

    • Accounting principles

    • Valuation areas

    Correct Answer(s)
    A. Account determinations
    A. Accounting principles
    A. Valuation areas
    Explanation
    To use foreign currency valuation in the ledger solution, you need to define account determinations, accounting principles, and valuation areas in Customizing. Account determinations are necessary to specify which accounts are affected by the valuation process. Accounting principles define the rules and guidelines for foreign currency valuation. Valuation areas are used to define the organizational units for which foreign currency valuation is performed. These three objects are essential for setting up and executing foreign currency valuation in the ledger solution.

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  • 44. 

    ¿What that the posting key controls? [3 correct]

    • The account type to which the line item is posted

    • Whether is debit or credit

    • The field status of additional details

    • The account group to which the line item can be posted

    • Whether the item can be posted with reference to primary or secondary cost elements

    Correct Answer(s)
    A. The account type to which the line item is posted
    A. Whether is debit or credit
    A. The field status of additional details
    Explanation
    The posting key controls the account type to which the line item is posted, whether it is a debit or credit entry, and the field status of additional details. It determines the behavior of the system when posting a transaction and helps in determining the correct account and account type for the line item.

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  • 45. 

    Identify the criteria that usually differentiate between document change rules. There are 2 correct answers to this question.

    • Account type

    • Asset class

    • Company code

    • Open items

    Correct Answer(s)
    A. Account type
    A. Company code
    Explanation
    The criteria that usually differentiate between document change rules are account type and company code. These two factors determine the specific rules and restrictions that apply when making changes to a document. The account type refers to the classification of the account, such as asset, liability, or equity, and different rules may apply based on the type of account. The company code, on the other hand, represents a specific organizational unit within a company, and different rules may be in place for different company codes. These criteria help ensure that document changes are made in accordance with the appropriate guidelines and regulations.

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  • 46. 

    You want to configure the tax calculation procedures. What are the main elements you need to define? There are 3 correct answers to this question 

    • Country key

    • Condition type

    • Account or transaction key

    • Tax code

    • Sequence of steps

    Correct Answer(s)
    A. Country key
    A. Condition type
    A. Tax code
    Explanation
    The main elements you need to define when configuring tax calculation procedures are:
    Country key: Specifies the country for which the tax calculation procedure applies.
    Condition type: Represents the type of tax or condition that will be applied in the calculation.
    Tax code: Identifies the specific tax rates or exemptions applicable to different scenarios.
    These elements are crucial for accurately determining tax amounts based on the transaction context and regulatory requirements.

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  • 47. 

    You need to make the line item text field mandatory during document entry. Which objects should you analyze to fulfill this request?  Note: There are 2 correct answers to this question.

    • Account group

    • Document type

    • G/L account

    • Posting key

    Correct Answer(s)
    A. G/L account
    A. Posting key
    Explanation
    To make the line item text field mandatory during document entry, you need to analyze the G/L account and posting key objects. The G/L account object is relevant because it determines the account to which the document is posted, and the posting key object is relevant because it defines the posting rules for the document. By analyzing these objects, you can configure the system to make the line item text field mandatory, ensuring that it is filled in during document entry. The account group and document type objects are not directly related to the line item text field and therefore are not relevant for fulfilling this request.

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  • 48. 

    In Financial statement version for asset, where do you need to assign the financial statement version?

    • To each depreciation area

    • To each chart of depreciation

    • To each company code

    • To each accounting principle

    Correct Answer
    A. To each depreciation area
    Explanation
    In Financial statement version for asset, the financial statement version needs to be assigned to each depreciation area. This is because each depreciation area represents a specific accounting principle or valuation method for assets. By assigning the financial statement version to each depreciation area, the system can generate accurate financial statements for each area based on the assigned version.

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  • 49. 

    You are configuring accrual types for the accrual engine. For which postings is account determination required? There are 2 correct answers to this question. 

    • Closing Posting only

    • Opening posting only

    • Periodic only

    • Opening and Closing Posting only.

    Correct Answer(s)
    A. Periodic only
    A. Opening and Closing Posting only.
    Explanation
    Account determination is required for both periodic postings and opening and closing postings. This means that the accrual engine needs to determine the appropriate accounts to post these types of transactions to. Therefore, the correct answers are Periodic only and Opening and Closing Posting only.

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Quiz Review Timeline (Updated): Sep 2, 2024 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Sep 02, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Aug 28, 2020
    Quiz Created by
    Rebecaac23
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