Month end closing process finance quiz. Every month end transactions that have been made are combines so as to come with monthly financial statements. Preparation of monthly statements not only makes it easy to prepare end year statements but also helps to track movement of the firm financial position. Do take up this quiz and see how well you understand what you should do on month end. Allt he best!
True
False
FK10N
KKAK
MMPV
VKM1
True
False
Run asset depreciation, then billing due list, and then calculate overhead.
Review blocked billing docs, then process vendor payments, and then execute order settlement.
Calculate overhead, calculate WIP, calculate variances, and then execute order settlement.
Review PO listing for goods received, not invoiced, calculate variances, and then post parked docs.
Can only be executed one time, the first day of the new period.
Can be set by module individually, all FI modules collectively and can be opened or closed as often as deemed necessary.
Can only be controlled by sub-module, not collectively.
Is part of MMPV.
F.19
F-32
VF04
ME2L
True
False
Completing an invoice
Simulating an invoice
Posting an invoice
Answers A and C
The rate with a validity date closest to the posting date without being in the future is the rate used.
Rate have to be entered before the "old" period is closed.
Rates are only entered once a month on the 15th.
Only one rate type can exist for each currency combination.
True
False
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