P&G ACADEMY MSA-SRAP QUIZ #4

2.

_________ are to be established for unpaid invoices or unbilled amounts that relate to commitments covering goods, services, effort, or obligations that have been received prior to the end of the fiscal year.

Prepayments
BSA
Accruals
Accrued revenue

Correct Answer

A. Accruals

Explanation

Accruals are established for unpaid invoices or unbilled amounts that relate to commitments that have been received prior to the end of the fiscal year. This means that even though the invoices have not been paid or the amounts have not been billed, the company has already received the goods, services, effort, or obligations. Accruals help to accurately match expenses with revenues in the correct accounting period, ensuring that financial statements reflect the true financial position of the company.

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3.

P&G has a newly created Tide T.V. commercial. The expense for this advertisement will be recognized/booked when:

The marketing agency sends the invoice to P&G
The commercial is aired on TV
Both a & b
None of the above

Correct Answer

A. The commercial is aired on TV

Explanation

The expense for the Tide T.V. commercial will be recognized/booked when the commercial is aired on TV. This is because the expense is incurred when the advertisement is actually shown to the target audience and reaches its intended purpose of promoting the product. Sending the invoice or any other administrative tasks related to the advertisement do not determine when the expense should be recognized.

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4.

These are expenses paid in cash and recorded as assets before they are used or consumed.

Purchase Orders
Prepayments
NRO
Liabilities

Correct Answer

A. Prepayments

Explanation

Prepayments are expenses that are paid in cash before they are actually used or consumed. They are recorded as assets on the balance sheet because they represent future benefits that the company will receive. Once the expenses are used or consumed, they are then recognized as expenses on the income statement. Prepayments are often made for things like insurance premiums, rent, or subscriptions. By recording prepayments as assets, the company can accurately reflect its financial position and ensure that expenses are properly matched with the period in which they are incurred.

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5.

FOC/NRO are treated as reduction in Inventory through ______ Account and subsequently closed to an MSA Expense account

MSA Expense
Sales
Accrual
Free Goods Shipment

Correct Answer

A. Free Goods Shipment

Explanation

When FOC/NRO (Free of Charge/No Return Order) items are given to customers, they are considered as a reduction in inventory. This reduction is recorded through the Free Goods Shipment account. This account is used to track the value of the FOC/NRO items that are given to customers. After recording the reduction in inventory, the Free Goods Shipment account is closed to an MSA (Marketing and Sales Allowance) Expense account. This ensures that the cost of the FOC/NRO items is properly accounted for as an expense in the company's financial records.

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6.

_______ accruals REVERSE in the next fiscal year which result to CARRYOVER.

Quarterly
Year end
Monthly
Bi-monthly

Correct Answer

A. Monthly

Explanation

Monthly accruals reverse in the next fiscal year, resulting in carryover. This means that any accruals made on a monthly basis during the current fiscal year will be reversed or adjusted in the next fiscal year. This allows for a more accurate representation of expenses and liabilities in each fiscal year. Quarterly, year end, and bi-monthly accruals may also be used, but the given answer specifically states that monthly accruals reverse in the next fiscal year.

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7.

NROs are also know as samples that are ______.

Free of charge
Deducted from sales
Both a & b
None of the above

Correct Answer

A. Free of charge

Explanation

NROs, also known as samples, are provided free of charge. This means that they are not deducted from sales and are given to customers without any cost. Therefore, the correct answer is "free of charge".

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8.

When are Commitments created for an internal order?

Upon GR creation
Upon PO creation
Upon PR creation
Upon IR creation

Correct Answer

A. Upon PR creation

Explanation

Commitments are created for an internal order upon PR (Purchase Requisition) creation. A purchase requisition is a document used to request the purchase of goods or services. When a PR is created for an internal order, it indicates that there is a need for a specific item or service for that order. Creating a commitment at this stage ensures that the necessary funds are reserved for the order and that the procurement process can proceed smoothly.

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9.

When are Actuals created for an internal order?

Upon GR creation
Upon PO creation
Upon PR creation
Upon IR creation

Correct Answer

A. Upon GR creation

Explanation

Actuals are created for an internal order upon Goods Receipt (GR) creation. This means that when goods are received and recorded in the system against an internal order, the actuals for that order are created. This allows for accurate tracking of costs and expenses associated with the internal order. The creation of a Purchase Order (PO), Purchase Requisition (PR), or Invoice Receipt (IR) does not directly result in the creation of actuals for an internal order.

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10.

What is the table which identifies a GL account as Optima relevant or not?

ZFMSAIO_SID
ZFXXCESID_CC
ZKXXMSASRAP_VF

Correct Answer

A. ZFXXCESID_CC

Explanation

The table ZFXXCESID_CC identifies a GL account as Optima relevant or not.

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11.

Which custom table records the Header Line item details for the Cross-charge Request?

ZFXX_MSERECLA_LG
ZFXX_MSERECLA_HD
ZFXX_MSA_RECURR
ZFXX_XCG_APPR_DT

Correct Answer

A. ZFXX_MSERECLA_HD

Explanation

The custom table that records the Header Line item details for the Cross-charge Request is ZFXX_MSERECLA_HD.

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12.

What access is needed to access the MyCrosscharge tool?

ZXXMS01
ZXXSR22
ZXXSR26

Correct Answer

A. ZXXSR26

Explanation

To access the MyCrosscharge tool, the access code needed is ZXXSR26.

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13.

Select the best answer why an accounting document with an Optima GL account was processed even without a Siebel ID in the Assignment field

Document type used was maintained in document type in table ZARDOC
GL account used was not maintained in ZFXXCESID_CC
Document type WE was used
All of the above
None of the aboveb

Correct Answer

A. All of the above

Explanation

The given answer "All of the above" is correct because all of the mentioned conditions are possible reasons why an accounting document with an Optima GL account was processed without a Siebel ID in the Assignment field. The document type used being maintained in the ZARDOC table, the GL account used not being maintained in the ZFXXCESID_CC table, and the document type being WE are all valid explanations for the given scenario.

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14.

What is the Dummy Customer ID used for non-direct MSA CFS transactions?

9900000001
1234567890
1AMSADUMMY

Correct Answer

A. 9900000001

Explanation

The Dummy Customer ID 9900000001 is used for non-direct MSA CFS transactions. This ID is likely a placeholder or default value that is used when a specific customer ID is not available or required for the transaction. It allows the system to process the transaction without a specific customer ID, ensuring that the transaction can still be completed successfully.

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15.

What program is used (and is needed to be executed in a background job) to extract MSA, SRAP and OIE data from GCF and CRM into COPA BW?

ZFXXI060
ZKXX_MSASRAP_COPA
ZFXXI055
ZFXX_COPA_BW

Correct Answer

A. ZKXX_MSASRAP_COPA

Explanation

The program "ZKXX_MSASRAP_COPA" is used and needed to be executed in a background job to extract MSA, SRAP, and OIE data from GCF and CRM into COPA BW.

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P&g Academy Msa-srap Quiz #4

Who's responsible for identifying and accruing MSA liabilities and establishing prepaids?

Quiz Preview

_________ are to be established for unpaid invoices or unbilled amounts that relate to commitments covering goods, services, effort, or obligations that have been received prior to the end of the fiscal year.

P&G has a newly created Tide T.V. commercial. The expense for this advertisement will be recognized/booked when:

These are expenses paid in cash and recorded as assets before they are used or consumed.

FOC/NRO are treated as reduction in Inventory through ______ Account and subsequently closed to an MSA Expense account

_______ accruals REVERSE in the next fiscal year which result to CARRYOVER.

NROs are also know as samples that are ______.

When are Commitments created for an internal order?

When are Actuals created for an internal order?

What is the table which identifies a GL account as Optima relevant or not?

Which custom table records the Header Line item details for the Cross-charge Request?

What access is needed to access the MyCrosscharge tool?

Select the best answer why an accounting document with an Optima GL account was processed even without a Siebel ID in the Assignment field

What is the Dummy Customer ID used for non-direct MSA CFS transactions?

What program is used (and is needed to be executed in a background job) to extract MSA, SRAP and OIE data from GCF and CRM into COPA BW?