SAP S/4 Hana Fi
Questions and Answers
- 1.
You want to post journal entries in a special period. Which conditions must be met? There are 2 correct answers to this question
- A.
You must have specific authorization to post in special periods.
- B.
The special period must be open for posting in the period control.
- C.
The balance carry-forward to the new fiscal year must have taken place.
- D.
You must enter a posting date in the last posting period.
Correct Answer(s)
B. The special period must be open for posting in the period control.
D. 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.Rate this question:
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- 2.
What are the features of the Accrual Engine in SAP S/4 HANA?
- A.
The FI reversal is NOT supported.
- B.
Complex postings with more than two line items are NOT possible.
- C.
All currencies of general ledger are supported.
- D.
The fiscal year variant of the general ledger is supported.
Correct Answer(s)
C. All currencies of general ledger are supported.
D. 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.Rate this question:
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- 3.
Which of the following statements best describe a noted item? There are 2 correct answers to this question.
- A.
It can be accessed by the payment program.
- B.
It updates the Sub ledger and the general ledger.
- C.
It can be used to remind the user about due payments.
- D.
It has an automatic statistical offsetting entry.
Correct Answer(s)
A. It can be accessed by the payment program.
C. 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.Rate this question:
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- 4.
Your customer wants to use data aging for the universal journal. WhichWhich criteria can you use to decide which data is moved to the historical partition? Note: There are 2 correct answers to this question.
- A.
Account type
- B.
Company Code
- C.
Document type
- D.
Ledger
Correct Answer(s)
B. Company Code
D. LedgerExplanation
Data aging for the universal journal allows you to move data to a historical partition based on certain criteria. The two correct criteria for deciding which data is moved are Company Code and Ledger. By using the Company Code, you can segregate data based on different organizational units within the company. The Ledger criterion allows you to separate data based on different accounting principles or reporting requirements. These criteria help in efficiently managing and organizing data in the historical partition, ensuring that only relevant and necessary data is stored there.Rate this question:
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- 5.
What items are NOT cleared by the automatic clearing program? There are 3 correct answers to this question
- A.
Items with withholding tax
- B.
Items with value added tax
- C.
Statistical postings
- D.
Items with sales and use tax
- E.
Noted items.
Correct Answer(s)
A. Items with withholding tax
C. Statistical postings
E. Noted items. -
- 6.
Which attributes should you consider when defining asset number ranges? There are 2 correct answers to this question
- A.
Each asset number range has to be assigned to a unique asset class.
- B.
Asset number ranges are defined at chart of depreciation level.
- C.
Asset number ranges are defined for asset classes and are company code specific.
- D.
Each asset class can have either an internal or external number range.
Correct Answer(s)
C. Asset number ranges are defined for asset classes and are company code specific.
D. 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.Rate this question:
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- 7.
You are a group cash manager interested in the North American business market. What are the personalization options available to you in SAP Fiori? There are 2 correct answers to this question.
- A.
You can create an app to take you directly to the cash position of the North American business market.
- B.
You can adapt the Iaunchpad color theme according to predefined values for the cash report.
- C.
You can create a tile group with all the apps required for your daily business for easy access.
- D.
You can create access to relevant apps for the North American accounts payable group that reports to you.
Correct Answer(s)
A. You can create an app to take you directly to the cash position of the North American business market.
C. You can create a tile group with all the apps required for your daily business for easy access.Explanation
The explanation for the given correct answers is that in SAP Fiori, there are two personalization options available for a group cash manager interested in the North American business market. The first option is to create an app that directly takes them to the cash position of the North American business market. This allows for quick and easy access to the cash position information. The second option is to create a tile group with all the apps required for daily business, making it convenient to access all the necessary apps in one place. This helps improve efficiency and productivity.Rate this question:
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- 8.
Identify the steps performed during the general ledger closing operations for the fiscal year. There are 3 correct answers to this question.
- A.
Vendor invoices are posted.
- B.
Accruals are carried out.
- C.
The balance carry forward program is run.
- D.
Foreign currency documents are valuated.
Correct Answer(s)
B. Accruals are carried out.
C. The balance carry forward program is run.
D. Foreign currency documents are valuated. -
- 9.
Identify the criteria that usually differentiate between document change rules. There are 2 correct answers to this question.
- A.
Account type
- B.
Asset class
- C.
Company code
- D.
Open items
Correct Answer(s)
A. Account type
C. Company codeExplanation
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.Rate this question:
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- 10.
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
- A.
Country key
- B.
Condition type
- C.
Account or transaction key
- D.
Tax code
- E.
Sequence of steps
Correct Answer(s)
A. Country key
B. Condition type
D. Tax codeExplanation
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.Rate this question:
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- 11.
Which of the following methods does the depreciation key define? There are 3 correct answers to this question.
- A.
Base method
- B.
Multilevel method
- C.
Period control method
- D.
Asset sheet valuation method
Correct Answer(s)
A. Base method
B. Multilevel method
C. Period control methodExplanation
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.Rate this question:
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- 12.
Which of the following parameters can be changed on a time-dependent basis? There are 3 correct answers to this question.
- A.
Depreciation key
- B.
Useful life (year or period)
- C.
Variable depreciation portion
- D.
Depreciation start date
Correct Answer(s)
A. Depreciation key
B. Useful life (year or period)
C. Variable depreciation portionExplanation
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.Rate this question:
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- 13.
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?
- A.
4
- B.
3
- C.
2
- D.
1
Correct Answer
C. 2Explanation
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.Rate this question:
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- 14.
Identify some of the fields related to the depreciation area in the asset master record. There are 3 correct answers to this question.
- A.
Asset description
- B.
Depreciation key
- C.
Useful life
- D.
Scrap value
Correct Answer(s)
B. Depreciation key
C. Useful life
D. Scrap valueExplanation
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.Rate this question:
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- 15.
What do you need to do to configure a new exchange rate type in SAP S/4HANA? There are 2 correct answers to this question.
- A.
Specify the direct or indirect quotation.
- B.
Set up the relationship between currencies using translation ratios.
- C.
Specify a purpose for the exchange rate type.
- D.
Maintain exchange rates daily
Correct Answer(s)
A. Specify the direct or indirect quotation.
B. Set up the relationship between currencies using translation ratios.Explanation
To configure a new exchange rate type in SAP S/4HANA, you need to specify the direct or indirect quotation and set up the relationship between currencies using translation ratios. This involves determining whether the exchange rate is quoted directly or indirectly and establishing the conversion ratios between different currencies. By doing so, the system can accurately calculate and convert currencies based on the specified exchange rate type and quotations.Rate this question:
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- 16.
Which closing activities are used in external reporting as per SAP best practices? There are 2 correct answers to this question.
- A.
Reclassify receivables and payable's.
- B.
Update product cost estimates.
- C.
Execute the plan cost center assessment cycle.
- D.
Perform valuations of open items in foreign currency.
Correct Answer(s)
A. Reclassify receivables and payable's.
D. 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.Rate this question:
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- 17.
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.
- A.
Complete document
- B.
Document header
- C.
Document line
- D.
Cost of sales accounting
Correct Answer
C. Document lineExplanation
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.Rate this question:
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- 18.
You are configuring accrual types for the accrual engine. For which postings is account determination required? There are 2 correct answers to this question.
- A.
Closing Posting only
- B.
Opening posting only
- C.
Periodic only
- D.
Opening and Closing Posting only.
Correct Answer(s)
C. Periodic only
D. 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.Rate this question:
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- 19.
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.
- A.
Account group
- B.
Document type
- C.
G/L account
- D.
Posting key
Correct Answer(s)
C. G/L account
D. Posting keyExplanation
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.Rate this question:
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- 20.
Identify the fields that cannot be changed while changing parked documents. There are 3 correct answers to this question.
- A.
Account assignment objects
- B.
Document type or document number
- C.
Currency
- D.
Company code
Correct Answer(s)
B. Document type or document number
C. Currency
D. Company codeExplanation
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.Rate this question:
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- 21.
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.
- A.
Profit center
- B.
Cost center
- C.
Fixed asset
- D.
Functional area
Correct Answer(s)
B. Cost center
C. Fixed assetExplanation
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.Rate this question:
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- 22.
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?
- A.
Posting date and entry date
- B.
Document date and posting date
- C.
Document date and asset value date
- D.
Posting date and asset value date
Correct Answer
D. Posting date and asset value dateExplanation
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.Rate this question:
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- 23.
Which of the following options are included in the Asset Explorer? 3 answers
- A.
Drill down to Financial Accounting (FI) document.
- B.
Post documents.
- C.
Display depreciation calculation.
- D.
Drill down to reports.
Correct Answer(s)
A. Drill down to Financial Accounting (FI) document.
C. Display depreciation calculation.
D. 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.Rate this question:
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- 24.
Which of the following statements apply to the special general ledger types of noted items? There are 3 correct answers to this question.
- A.
No postings are made on an offsetting account
- B.
No zero-balance check is made in the system.
- C.
Noted items are posted to an alternative reconciliation account.
- D.
No special general ledger indicators of your own can be created of this type.
- E.
The account for the offsetting entry is selected automatically.
Correct Answer(s)
A. No postings are made on an offsetting account
B. No zero-balance check is made in the system.
C. 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.Rate this question:
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- 25.
Which parameters can you specify when you create a new correspondence type? There are 3 correct answers to this question.
- A.
Company code required
- B.
Document number required
- C.
Account required
- D.
Number of date fields required
- E.
Reason code required
Correct Answer(s)
B. Document number required
C. Account required
D. Number of date fields requiredExplanation
When creating a new correspondence type, there are three parameters that can be specified. The first parameter is "Document number required," which means that a document number must be provided when creating the correspondence type. The second parameter is "Account required," indicating that an account must be specified. The third parameter is "Number of date fields required," which means that a certain number of date fields need to be included in the correspondence type. These three parameters are necessary when creating a new correspondence type.Rate this question:
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- 26.
Which business partner characteristic is mapped to the customer and supplier account groups? Please choose the correct answer.
- A.
Business partner category
- B.
Business partner grouping
- C.
Business partner role
- D.
Business partner type.
Correct Answer
B. Business partner groupingExplanation
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.Rate this question:
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- 27.
When can you set the open item management indicator in a general ledger account? There are 2 correct answers to this question.
- A.
When an account is used as a reconciliation account
- B.
When an account is set up as a cost element
- C.
When an account is required for clearing
- D.
When an account has a zero balance
Correct Answer(s)
A. When an account is used as a reconciliation account
D. When an account has a zero balanceExplanation
The open item management indicator can be set in a general ledger account when it is used as a reconciliation account. This means that the account is used to track and manage open items, such as outstanding invoices or payments. Additionally, the indicator can also be set when an account has a zero balance, indicating that there are no open items or transactions associated with the account.Rate this question:
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- 28.
Which of the following statements best describe how core data services (CDS) are developed? Please choose the correct answer.
- A.
They are developed in the ABAP layer of the SAP S/4HANA system by the Analytics end user.
- B.
They are developed in the SAP HANA database layer by the Analytics key user.
- C.
They are developed in the ABAP layer of the SAP S/4HANA system by the IT user.
- D.
They are developed in the SAP HANA database layer by the IT user.
Correct Answer
C. They are developed in the ABAP layer of the SAP S/4HANA system by the IT user. -
- 29.
Which steps are required to create a substitution in Financial Accounting? There are 3 correct answers to this question
- A.
Define the substitution rule with its different steps using the formula editor.
- B.
Assign the substitution rule to the controlling area.
- C.
Activate the substitution rule.
- D.
Select the correct call-up point.
- E.
Choose the area of application GL.
Correct Answer(s)
A. Define the substitution rule with its different steps using the formula editor.
C. Activate the substitution rule.
D. Select the correct call-up point.Explanation
To create a substitution in Financial Accounting, the first step is to define the substitution rule with its different steps using the formula editor. This involves specifying the conditions and actions for the substitution. Next, the substitution rule needs to be activated to make it effective. Finally, the correct call-up point needs to be selected to determine when the substitution should occur. These steps are necessary to ensure that the substitution is properly set up and applied in the financial accounting system. Additionally, it is important to note that the area of application for the substitution should be chosen as GL, indicating that it is applicable to the general ledger.Rate this question:
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- 30.
What kind of postings can be made to an asset under construction (AuC)
- A.
Special depreciations
- B.
Guarantee of payment
- C.
Investment support measures
- D.
Down payments
- E.
Bill of exchange
Correct Answer(s)
A. Special depreciations
C. Investment support measures
D. Down paymentsExplanation
Postings that can be made to an asset under construction (AuC) include special depreciations, investment support measures, and down payments. Special depreciations refer to any additional depreciation that can be claimed for the asset. Investment support measures are any financial aids or incentives provided by the government or other entities to support the investment in the asset. Down payments are the initial payments made towards the asset before its completion. These postings are relevant to the accounting treatment of an asset under construction.Rate this question:
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- 31.
You need to create a drill down report, Which data you define as characteristics?
- A.
Company code
- B.
Currency
- C.
Cost center
- D.
Profit center
- E.
Chart of account
Correct Answer(s)
B. Currency
D. Profit center
E. Chart of accountExplanation
In order to create a drill down report, the data that needs to be defined as characteristics are Currency, Profit center, and Chart of account. These characteristics are important for analyzing and breaking down the data in the report. The company code, cost center, and other data mentioned are not relevant for drill down analysis and therefore not considered as characteristics for this specific report.Rate this question:
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- 32.
Which data model is used for SAP S/4HANA?
- A.
Online transactional processing (OLTP) and online analytical processing (OLAP) each using data from separate tables.
- B.
Online transactional processing (OLTP) for on-premise deployments and online analytical processing (OLAP)for Cloud deployments.
- C.
Online analytical processing (OLAP) that is based on aggregated tables and indexes.
- D.
Online transactional processing (OLTP) and online analytical processing (OLAP) both running on a single system.
Correct Answer
D. 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.Rate this question:
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- 33.
To which organizational unit you can assign validation or substitution?
- A.
Company code
- B.
Functional area
- C.
Business area
- D.
Division
Correct Answer
A. Company codeExplanation
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.Rate this question:
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- 34.
What do you configure to allow cross-company-code transactions? Note- There are 2 correct answers to this question.
- A.
Account type
- B.
Clearing accounts
- C.
Posting keys
- D.
Special G/L indicator
Correct Answer(s)
B. Clearing accounts
C. Posting keysExplanation
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.Rate this question:
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- 35.
Which items can you clear with the automatic clearing program?
- A.
Statistical postings
- B.
Bank transaction items
- C.
Noted items
- D.
Items with withholding tax entries
Correct Answer
B. Bank transaction itemsExplanation
The automatic clearing program can clear Bank transaction items.Rate this question:
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- 36.
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.
- A.
Simulation extension ledger
- B.
Account determinations
- C.
Value adjustment keys
- D.
Accounting principles
- E.
Valuation areas
Correct Answer(s)
B. Account determinations
D. Accounting principles
E. Valuation areasExplanation
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.Rate this question:
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- 37.
What kind of customization can users do on their launchpad? There are 2 correct answers to this question.
- A.
Change the icons on tiles.
- B.
Create their own tile groups.
- C.
Change the name of tile groups
- D.
Change the names of tiles.
Correct Answer(s)
B. Create their own tile groups.
C. Change the name of tile groupsExplanation
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.Rate this question:
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- 38.
Which data do you define on the bank master record? Note: There are 2 correct answers to this question.
- A.
Address data and control data
- B.
A unique bank country
- C.
Corresponding business area
- D.
Payment and dunning information
Correct Answer(s)
A. Address data and control data
B. A unique bank countryExplanation
On the bank master record, you define address data and control data. This includes information such as the bank's physical address and contact details, as well as any control parameters or settings specific to that bank. Additionally, a unique bank country is also defined on the bank master record, indicating the country where the bank is located. These three elements are crucial for managing and organizing banking information within a system.Rate this question:
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- 39.
In Asset Accounting, which object do you use to handle separate valuation for parallel accounting? Please choose the correct answer.
- A.
Depreciation area
- B.
Valuation area
- C.
Depreciation key
- D.
Chart of depreciation
Correct Answer
A. Depreciation area -
- 40.
On which levels do you maintain data for an integrated customer account? Note: There are 3 correct answers to this question.
- A.
Sales area
- B.
General data at the client level
- C.
Profitability segment
- D.
Company code
- E.
Purchasing organization
Correct Answer(s)
A. Sales area
B. General data at the client level
D. Company codeExplanation
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.Rate this question:
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- 41.
A document has several line items, with different reason codes entered. For the automatic payment, which correspondence type does the system choose?
- A.
The one in the line item with the largest amount
- B.
The one in the first line item
- C.
The one assigned to the tolerance group
- D.
The system prompts for the user to assign one
Correct Answer
C. The one assigned to the tolerance groupExplanation
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.Rate this question:
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- 42.
Which of the following are standard correspondence types? Note: There are 3 correct answers to this question.
- A.
Document journal
- B.
Payment proposal
- C.
Account statement
- D.
Open items list
- E.
Payment notice
Correct Answer(s)
C. Account statement
D. Open items list
E. Payment noticeExplanation
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.Rate this question:
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- 43.
Which of the following are the steps of Inter company reconciliation? There are 3 correct answers to this question.
- A.
Automatic presentation of reconciled and non-reconciled data
- B.
Automatic assignment of documents
- C.
Manual reconciliation and communication
- D.
Document selection and data storage
Correct Answer(s)
B. Automatic assignment of documents
C. Manual reconciliation and communication
D. Document selection and data storageExplanation
The steps of Inter company reconciliation include automatic assignment of documents, manual reconciliation and communication, and document selection and data storage. Automatic assignment of documents refers to the system automatically matching and assigning relevant documents for reconciliation. Manual reconciliation and communication involve the manual process of reviewing and resolving any discrepancies or issues between the intercompany transactions. Document selection and data storage involve selecting the appropriate documents for reconciliation and storing the reconciled and non-reconciled data in a systematic manner.Rate this question:
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- 44.
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.
- A.
License plate number
- B.
Inventory number
- C.
Cost center
- D.
Description of the asset .
Correct Answer(s)
B. Inventory number
C. Cost center
D. 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.Rate this question:
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- 45.
Which of the following original Management Accounting objects can you assign in the asset master record? There are 3 correct answers to this question.
- A.
Cost center
- B.
Cost element
- C.
Activity type
- D.
Order
Correct Answer(s)
A. Cost center
C. Activity type
D. OrderExplanation
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.Rate this question:
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- 46.
¿Which fields can be edited before a parked document is posted?
- A.
Amount
- B.
Account
- C.
Posting date
- D.
Currency
- E.
Document type
Correct Answer(s)
A. Amount
B. Account
C. Posting dateExplanation
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.Rate this question:
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- 47.
¿What that the posting key controls? [3 correct]
- A.
The account type to which the line item is posted
- B.
Whether is debit or credit
- C.
The field status of additional details
- D.
The account group to which the line item can be posted
- E.
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
B. Whether is debit or credit
C. The field status of additional detailsExplanation
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.Rate this question:
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- 48.
What do you define when you create a new document type. [2 correct]
- A.
Number range for document type
- B.
Reasons for reversals
- C.
Account types allowed for posting
- D.
Posting key for the document type
Correct Answer(s)
A. Number range for document type
C. Account types allowed for postingExplanation
When creating a new document type, you define the following:
Number range for document type: Specifies the range of document numbers to be assigned to documents of this type, ensuring unique identification.
Account types allowed for posting: Determines the types of accounts (e.g., asset, liability, revenue, expense) that can be posted to using this document type.Rate this question:
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- 49.
In which sections of the financial statement version can you find values related to accounts for sales deductions and material expenses?
- A.
Sales deduction in profit and loss sections, Materials expenses in profit and loss section
- B.
Sales deductions in balance sheet section Material expenses in profit and loss section
- C.
Sales deduction in profit and loss sections, Materials expenses in balance sheet section
- D.
Sales deduction in balance sheet sections, Materials expenses in balance sheet section
Correct Answer
C. Sales deduction in profit and loss sections, Materials expenses in balance sheet sectionExplanation
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".Rate this question:
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- 50.
What is the order of configuration within the SAP Financial Closing cockpit? What are the configurations required for SAP Financial closing cockpit?
- A.
1. Create tasks; 2. Define dependencies; 3. Create template; 4. Create task list; 5. Release task list.
- B.
1. Create tasks; 2. Define dependencies; 3. Create task list; 4. Create template; 5. Release task list.
- C.
1. Create template; 2. Create tasks; 3. Create task list; 4. Define dependencies; 5. Release task list.
- D.
1. Create template; 2. Create tasks; 3. Define dependencies; 4. Create task list; 5.Release task list
Correct Answer
D. 1. Create template; 2. Create tasks; 3. Define dependencies; 4. Create task list; 5.Release task listExplanation
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.Rate this question:
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Mar 26, 2024Quiz Edited by
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Aug 28, 2020Quiz Created by
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