SAP Business One Certification Test
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What are True to installment in payment terms?
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The system automatically creates a single line item in the journal entry for every installment.
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The payment wizard handles them as separate invoices and you can reconcile them separately.
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The customer receivable aging report, vendor liability aging report, the cash flow report, and open line item list also treat them as a single invoice.
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These line item all appear in the payment screen you can pay them one after the other.
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The system adds the whole tax amount to the last installment or the system distribute the tax amount among all installment.
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SAP Business One is business management software designed for small and medium-sized enterprises, sold by the German company SAP SE. Take this sample test designed specially for SAP Business.
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- 2.
What are True to credit memo with reference to an invoice with installment.
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The system must assign the credit memo amount to the installment.
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You can view but can't modify the installment number and division in the invoice.
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You can distribute the credit amount equal to the installment.
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You can distribute the credit amount to first but not to the last installment.
Correct Answer(s)
A. The system must assign the credit memo amount to the installment.
A. You can distribute the credit amount equal to the installment.Explanation
B. You can view as well as modify.
D. You can distribute the credit amount to the first or last installment.Rate this question:
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- 3.
You can create posting periods for future fiscal years at any time. True or False?
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True
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False
Correct Answer
A. TrueExplanation
Posting periods for future fiscal years can be created at any time, allowing for the preparation and planning of financial transactions in advance. This flexibility enables organizations to set up their systems and processes in anticipation of future periods, ensuring a smooth transition and efficient financial management. Therefore, the statement that you can create posting periods for future fiscal years at any time is true.Rate this question:
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- 4.
You can define more than one series for a document type.
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True
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False
Correct Answer
A. TrueExplanation
It is possible to define multiple series for a document type. This allows for more flexibility and customization in organizing and categorizing documents. By having multiple series, different sets of documents can be grouped and managed separately based on their specific characteristics or attributes. This can help in improving organization, retrieval, and overall document management efficiency.Rate this question:
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- 5.
What are the ways by which reversal of adjustment posting be made as period-end-preparation?
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You post adjustment on the last day of the old period and enter any day of the new period as the reversal date.
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You create the period-end reports based on the adjusted general ledger.
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You reverse the adjustment posting with the reverse transactions.
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You can mark journal entries made for your closing operation.
Correct Answer(s)
A. You create the period-end reports based on the adjusted general ledger.
A. You reverse the adjustment posting with the reverse transactions.
A. You can mark journal entries made for your closing operation.Explanation
A. Enter the first date of the new periodRate this question:
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- 6.
In doubtful debts, the system opens a journal entry and creates a first line item. The line item posts the amount of doubtful debt on the credit side of the customer account and debit side of the control account for doubtful debts.
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True
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False
Correct Answer
A. FalseExplanation
Credits the customer account also credit the control account for doubtful debts and debit to an expense account.Rate this question:
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- 7.
What are True to editing the financial report template.
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Every financial report template has exactly five levels
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Level one to four consists of titles
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The G/L account are located on the fifth level
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The total of G/L account cannot be displayed on a higher level, You cannot make the higher titles invisible.
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In the financial report template the profit and loss statements, the system cannot insert a subtotal on every level
Correct Answer(s)
A. Every financial report template has exactly five levels
A. Level one to four consists of titles
A. The G/L account are located on the fifth levelExplanation
D. You can make the higher level invisible.
E. The system can insert a subtotal on every level.Rate this question:
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- 8.
The security level that exists in the cash flow statement is for:
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Cash
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Credit and vouchers
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Cheque received
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Customer Liabilities
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Payable to Vendors
Correct Answer(s)
A. Cash
A. Credit and vouchers
A. Cheque received
A. Customer Liabilities
A. Payable to VendorsExplanation
The security level that exists in the cash flow statement is for all the mentioned items: cash, credit and vouchers, cheque received, customer liabilities, and payable to vendors. This means that the cash flow statement includes information about the inflows and outflows of cash related to these items, ensuring that the statement provides a comprehensive overview of the organization's financial security and liquidity.Rate this question:
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- 9.
Posting that you have not yet made when the cash flow report is compiled cannot be included manually and assigned a security level further you cannot decide and include recurring posting or journal vouchers into consideration.
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True
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False
Correct Answer
A. FalseExplanation
Can be included manually and assigned a security level further you can decide and include.....Rate this question:
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- 10.
The credit and debit line item on the bank account is always managed as an open item.
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True
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False
Correct Answer
A. TrueExplanation
The credit and debit line item on a bank account is always managed as an open item. This means that each transaction is treated individually and remains open until it is fully resolved or balanced. This allows for proper tracking and reconciliation of all financial activities associated with the account. By managing these line items as open items, it ensures accuracy and accountability in the bank account's records.Rate this question:
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- 11.
The Payment Wizard Runs cover:
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AP and AR document
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Transaction that are fully paid
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Transaction that are not credited or reconciled.
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Un-reconcilled/allocated payments on account
Correct Answer(s)
A. AP and AR document
A. Transaction that are not credited or reconciled.
A. Un-reconcilled/allocated payments on accountExplanation
The Payment Wizard Runs cover AP and AR documents, which refers to the processing of payments for both accounts payable and accounts receivable. It also includes transactions that are not credited or reconciled, meaning that any outstanding or unresolved transactions can be managed through the Payment Wizard Runs. Additionally, it covers un-reconciled or unallocated payments on account, allowing for the proper allocation and reconciliation of these payments.Rate this question:
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- 12.
What are True to payment wizard:
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The system creates a recommendation report or a list of suggested payments.
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You can accept but cannot reject the recommendation.
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You can save the recommendation and proceed at a later date or you can execute the payments.
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The button Non-Included transaction creates a list of all open items that could not be included in the payment.
Correct Answer(s)
A. The system creates a recommendation report or a list of suggested payments.
A. You can save the recommendation and proceed at a later date or you can execute the payments.
A. The button Non-Included transaction creates a list of all open items that could not be included in the payment.Explanation
B. You can accept or reject the recommendation.Rate this question:
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Quiz Review Timeline (Updated): Mar 22, 2023 +
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Current Version
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Mar 22, 2023Quiz Edited by
ProProfs Editorial Team -
Sep 18, 2009Quiz Created by
Niladri_harichan
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