SAP Business One Certification Exam Practice Test #3

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  • 1/10 Questions

    You can use the Profit Center report to display an over view of the posted cost and revenues.

    • True
    • False
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SAP Business One Certification Exam Practice Test #3 - Quiz
About This Quiz

Prepare for the SAP Business One certification with this practice test. It covers key aspects like account management, tax posting, transaction reversal, and core features.

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  • 2. 

    You can save journal voucher as not balanced as long as it is in the draft mode.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    In accounting, a journal voucher is a document used to record financial transactions. When a journal voucher is in draft mode, it means that it has not been finalized or approved yet. During this stage, it is possible for the journal voucher to be unbalanced, meaning that the debit and credit amounts do not match. Therefore, the statement is true because a journal voucher can be saved as not balanced as long as it is in draft mode.

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  • 3. 

    You cannot use Alternative Account Name for a Account when your company works in different language. True or False?

    • True

    • False

    Correct Answer
    A. False
    Explanation
    You can use Alternate acoount name.

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  • 4. 

    You can enter Profit Center, Dimension, Project directly in the relevant line items or the journal entry but not in the marketing document.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    Also in the marketing document.

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  • 5. 

    Reverse Transaction with (-)ve amount post the debit in error as a (-)ve credit and credit in error as a (-)ve debit.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    Reveres Transaction with (-)ve amount post the debit in error as a (-)ve debit and credit in error as a (-)ve credit.

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  • 6. 

    The system provides a dunning wizard on the purchase menu that generates dunning letter for all outstanding vendors

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The dunning wizard are for sales and customers...

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  • 7. 

    You can manually post to a Tax account.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    you cannot manually post to a Tax account.

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  • 8. 

    What are True to debit and credit in G/L account?

    • The system display debit in black with blue background and credit in green

    • The amounts are usually (+)ve . The (-)ve amount indicates reversal posting.

    • The balances is the difference between the sum of all credit posting and the sum of all debit posting.

    • Usually, the system display a credit balance with (-)ve sign because the credit balance represent expenditure in an asset account.

    Correct Answer(s)
    A. The amounts are usually (+)ve . The (-)ve amount indicates reversal posting.
    A. The balances is the difference between the sum of all credit posting and the sum of all debit posting.
    Explanation
    A. The system display debit in black and credit in green and in parenthesis. D. The credit balance represent liabilities in an asset account.

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  • 9. 

    Which of the following is a core feature of SAP Business One?

    • Cloud-based CRM

    • Inventory and Distribution Management

    • Human Resources Management

    • Graphic Design Tools

    Correct Answer
    A. Inventory and Distribution Management
    Explanation
    Inventory and Distribution Management is a core feature of SAP Business One. This software is designed specifically for small to medium-sized businesses and includes various modules such as inventory management, distribution, financial management, and sales. It helps companies manage their supply chain efficiently. The other options, such as cloud-based CRM, human resources management, and graphic design tools, may be available in other software solutions, but they are not core features of SAP Business One.

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  • 10. 

    What are True to internal reconcillation

    • Internal reconciliation refers to the matching or clearing of open credit items to open debit items within an account.

    • For customer account a receivable (credit) must be followed by an Incoming payment (debit).

    • For vendor account a liability (credit) must be followed by an outgoing payment (debit).

    • For good receipt/Invoice Receipt account (GR/IR), each incoming invoice (credit) must correspond to a good receipt (debit).

    Correct Answer(s)
    A. For vendor account a liability (credit) must be followed by an outgoing payment (debit).
    A. For good receipt/Invoice Receipt account (GR/IR), each incoming invoice (credit) must correspond to a good receipt (debit).
    Explanation
    A. Internal reconciliation refers to matching and clearing of... B. For customer account a receivable (debit) must followed by an incoming payment (credit).

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  • Current Version
  • Sep 01, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Sep 18, 2009
    Quiz Created by
    Niladri_harichan
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