SAP S/4HANA For Financial Accounting Associates - Mini

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  • 1/120 Questions

    How many posting period intervals in SAP S/4 HANA are used for posting of Financial Accounting (FI) and Controlling (CO)?

    • 2
    • 3
    • 12
    • 16
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About This Quiz

This mini quiz on SAP S\/4HANA for Financial Accounting Associates assesses knowledge on key functionalities such as cleared items, payment proposals, universal journal, payment terms, posting periods, and asset accounting in SAP S\/4HANA.

SAP S/4HANA For Financial Accounting Associates - Mini - Quiz

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  • 2. 

    What is the maximum dunning level that can be assigned to a dunning procedure? Choose the correct answer.

    • 9

    • 7

    • 11

    • 1

    Correct Answer
    A. 9
    Explanation
    The maximum dunning level that can be assigned to a dunning procedure is 9. This means that a customer will receive a maximum of 9 dunning letters or reminders before further actions are taken.

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  • 3. 

    When procurement transactions are posted, which of the following steps is exclusively carried out in Materials Management?

    • Goods receipt

    • Creation of purchase order

    • Invoice receipt

    Correct Answer
    A. Creation of purchase order
    Explanation
    In the procurement process, the creation of a purchase order is exclusively carried out in Materials Management. This step involves creating a document that specifies the details of the goods or services to be procured, such as quantity, price, and delivery date. This document is then sent to the vendor as a formal request for the procurement. The goods receipt and invoice receipt steps, on the other hand, may involve other departments such as Warehouse Management and Accounting, respectively.

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  • 4. 

    Which of the following is the first step in the variant principle?

    • Determine value for the variant

    • Assign the variant to the objects

    • Define Variant

    • Create multiple variants

    Correct Answer
    A. Define Variant
    Explanation
    The first step in the variant principle is to define the variant. This involves specifying the different options or variations that can be applied to an object or system. By defining the variant, you establish the framework for how the object or system can be customized or adapted to meet different needs or preferences. Once the variant is defined, you can then move on to determining the value for the variant and assigning it to the appropriate objects. Creating multiple variants may also be done later in the process, but it is not the first step.

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  • 5. 

    On which database is SAP S/4HANA built to run? Please choose the correct answer.

    • On all databases that support columnar data storage

    • On a select list of SAP and third-party databases

    • Only on SAP HANA

    • On all modern enterprise level databases

    Correct Answer
    A. Only on SAP HANA
    Explanation
    SAP S/4HANA is built to run only on SAP HANA, which is a high-performance in-memory database platform. This means that SAP S/4HANA can take full advantage of the capabilities and features provided by SAP HANA, such as real-time data processing, advanced analytics, and fast data retrieval. By being tightly integrated with SAP HANA, SAP S/4HANA can deliver faster and more efficient performance compared to running on other databases.

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  • 6. 

    You need to enter a percentage rate in the terms of payment to calculate_____ Please choose the correct answer.

    • Cash discount

    • Credit amount

    • Debit amount

    • Invoice discount

    Correct Answer
    A. Cash discount
    Explanation
    To calculate the cash discount, a percentage rate needs to be entered in the terms of payment. The cash discount is a reduction in the amount owed by a customer if payment is made within a specified period of time. By entering the percentage rate in the terms of payment, the calculation can be automatically done to determine the amount of cash discount applicable.

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  • 7. 

    What is the maximum dunning level that can be assigned to a dunning procedure? Choose the correct answer.

    • 9

    • 7

    • 1

    • 11

    Correct Answer
    A. 9
    Explanation
    The maximum dunning level that can be assigned to a dunning procedure is 9. This means that a customer will receive a maximum of 9 dunning letters or reminders before further action is taken, such as legal proceedings or debt collection.

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  • 8. 

    True or False: In an environment of systems using SAP HANA, you can perform both OLAP and OLTP processing without duplication of data for the SAP BW and SAP ERP systems.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    In an environment of systems using SAP HANA, it is possible to perform both OLAP (Online Analytical Processing) and OLTP (Online Transaction Processing) without duplicating data for the SAP BW (Business Warehouse) and SAP ERP (Enterprise Resource Planning) systems. This is because SAP HANA is an in-memory database platform that allows real-time processing and analysis of large volumes of data. It eliminates the need for data duplication by providing a unified view of the data, enabling both analytical and transactional processing to be performed on the same data set.

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  • 9. 

    You need to enter a percentage rate in the terms of payment to calculate_____ Please choose the correct answer.

    • Debit amount

    • Credit amount

    • Invoice discount

    • Cash discount

    Correct Answer
    A. Cash discount
    Explanation
    When entering a percentage rate in the terms of payment, it is used to calculate the cash discount. A cash discount is a reduction in the amount to be paid by a customer if the payment is made within a specified period of time. By entering a percentage rate in the terms of payment, the system can automatically calculate the cash discount amount based on the total invoice amount.

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  • 10. 

    Which of the following steps are parts of the process of configuring the payment program? There are 3 correct answers to this question.

    • Configure the payment methods for each company code

    • Configure the G/L account field status for document entry

    • Configure the house banks

    • Configure the paying company codes

    Correct Answer(s)
    A. Configure the payment methods for each company code
    A. Configure the house banks
    A. Configure the paying company codes
    Explanation
    The process of configuring the payment program involves three steps. Firstly, you need to configure the payment methods for each company code, which specifies the available payment methods that can be used for each company code. Secondly, you need to configure the house banks, which involves setting up the bank accounts that will be used for payment transactions. Lastly, you need to configure the paying company codes, which determines which company codes are authorized to make payments.

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  • 11. 

    You are creating an asset master record by copying another asset, and you notice that the inventory number is copied over. Which setting do you make to ensure the inventory number is NOT copied over when you create a new asset via copy? Please choose the correct answer.

    • Remove the main asset indicator in screen layout maintenance.

    • Remove the reference indicator in screen layout maintenance.

    • Remove the asset class indicator in screen layout maintenance.

    • Remove the subnumber indicator in screen layout maintenance.

    Correct Answer
    A. Remove the reference indicator in screen layout maintenance.
    Explanation
    By removing the reference indicator in screen layout maintenance, you ensure that the inventory number is not copied over when creating a new asset via copy. The reference indicator is responsible for copying the inventory number from the original asset to the new asset. Removing this indicator prevents the inventory number from being carried over during the copying process.

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  • 12. 

    True or False: The only version of the public cloud edition of SAP S/4HANA a customer can be on is the latest released version.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The explanation for the given correct answer is that the public cloud edition of SAP S/4HANA only offers the latest released version to its customers. This means that customers using the public cloud edition do not have the option to choose or stay on previous versions of the software. The public cloud edition ensures that all customers are on the latest version, which allows for consistent updates, improvements, and access to the latest features and functionalities.

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  • 13. 

    Which is the first step in the procedure of making down payments in the customer area? Please choose the correct answer.

    • Down payment received

    • Clearing

    • Customer invoice

    • Down payment request

    Correct Answer
    A. Down payment request
    Explanation
    The first step in the procedure of making down payments in the customer area is to submit a down payment request. This means that before any down payment can be received, a request must be made by the customer.

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  • 14. 

    Which of the following is the first step in the variant principle? Please choose the correct answer.

    • Determine values for the variant

    • Create multiple variants

    • Assign the variant to the objects

    • Define variant

    Correct Answer
    A. Define variant
    Explanation
    The first step in the variant principle is to define the variant. This involves identifying the specific variable or factor that will be varied or changed in order to test different scenarios or options. Once the variant is defined, the next steps can be taken, such as determining values for the variant, creating multiple variants, and assigning the variant to the objects.

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  • 15. 

    True or False: Choosing between SAP S/4HANA and SAP S/4HANA Cloud is also a matter of required scope. Please choose the correct answer.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Choosing between SAP S/4HANA and SAP S/4HANA Cloud is indeed a matter of required scope. The decision depends on the specific needs and preferences of the organization. SAP S/4HANA is an on-premise solution that offers more customization options and control over the system. On the other hand, SAP S/4HANA Cloud is a cloud-based solution that provides greater flexibility and scalability. Therefore, the choice between the two depends on factors such as the organization's size, IT infrastructure, budget, and desired level of control.

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  • 16. 

    Cleared items contain which of the following pieces of information?

    • Clearing document number

    • Due date

    • Clearing date

    • Archival information

    Correct Answer(s)
    A. Clearing document number
    A. Clearing date
    Explanation
    Cleared items contain the clearing document number and clearing date. The clearing document number is important for tracking and identifying the specific document that was used to clear the item. The clearing date indicates the date on which the item was cleared, providing information about when the transaction was completed.

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  • 17. 

    A customer payment was received. An open item does NOT exist for the payment. How can you post the payment?

    • Create a down payment

    • Post payment on account

    • Post partial payment

    • Create a residual item

    Correct Answer
    A. Post payment on account
    Explanation
    To post the payment, you can choose the option "Post payment on account". This means that the payment will be recorded as a full payment towards the customer's account without any open items. This is the appropriate way to record a payment when there are no specific invoices or open items to apply it to.

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  • 18. 

    Which of the following statements is correct for external number assignment (manual posting)? Please choose the correct answer.

    • The number is automatically assigned

    • The number is entered by the user.

    • The number is the last document number.

    • The number must be assigned in a sequence.

    Correct Answer
    A. The number is entered by the user.
    Explanation
    In external number assignment (manual posting), the user is responsible for entering the number for the document. This means that the system does not automatically assign a number, and the user has control over the numbering process.

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  • 19. 

    You are starting the fiscal year-end process in Asset Accounting in SAP S/4HANA. What are the year-end closing program checks for Asset Accounting? There are 2 correct answers to this question.

    • Fixed asset fiscal year change is complete.

    • General ledger and subledgers are closed.

    • Assets are complete and error free.

    • Depreciation is posted in full.

    Correct Answer(s)
    A. Assets are complete and error free.
    A. Depreciation is posted in full.
    Explanation
    The year-end closing program checks for Asset Accounting in SAP S/4HANA include ensuring that assets are complete and error-free, and that depreciation is posted in full. These checks are necessary to ensure the accuracy and completeness of the asset accounting records at the end of the fiscal year.

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  • 20. 

    You are creating an asset master record by copying another asset, and you notice that the inventory is copied over. Which setting do you make to ensure the inventory number is NOT copied over when you create a new asset via copy?

    • Remove the subnumber indicator in screen layout maintenance

    • Remove the main asset indicator screen layout maintenance

    • Remove the asset class indicator in screen layout

    • Remove the reference indicator in screen layout maintenance

    Correct Answer
    A. Remove the reference indicator in screen layout maintenance
    Explanation
    To ensure that the inventory number is not copied over when creating a new asset via copy, you need to remove the reference indicator in screen layout maintenance. This indicator is responsible for copying the reference information from the original asset to the new asset. By removing this indicator, you can prevent the inventory number from being copied over and maintain a unique inventory number for the new asset.

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  • 21. 

    On which database is SAP S/4 HANA built to run?

    • Only on SAP HANA

    • On all data bases that supports columnar data storage

    • On all modern enterprise level databases

    • On a select list of SAP and third-party databases

    Correct Answer
    A. Only on SAP HANA
    Explanation
    SAP S/4 HANA is built to run only on SAP HANA. This means that it is specifically designed and optimized to work with SAP's in-memory database platform. It cannot run on any other database system. By utilizing the capabilities of SAP HANA, SAP S/4 HANA can provide real-time analytics, faster data processing, and improved performance for businesses.

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  • 22. 

    Which of the following product lines does the SAP S/4HANA system rely on for most human resource management functions?

    • SAP Hybris

    • SAP Ariba

    • Concur

    • SAP SuccessFactors

    Correct Answer
    A. SAP SuccessFactors
    Explanation
    The SAP S/4HANA system relies on the SAP SuccessFactors product line for most human resource management functions.

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  • 23. 

    Which currency types can you set in customizing activity "define the setting for ledgers and currency type"? There are 2 correct answers to this question.

    • Transaction Currency

    • Group Currency

    • Local Currency

    • Material Ledger Currency

    Correct Answer(s)
    A. Group Currency
    A. Local Currency
    Explanation
    In the customizing activity "define the setting for ledgers and currency type," you can set Group Currency and Local Currency. Group Currency is the currency used for consolidating financial statements across multiple companies, while Local Currency is the currency used for local reporting and transactions within a specific company.

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  • 24. 

    What information is updated on the invoice when you post a complete payment? Note: There are 2 correct answers to this question.

    • Clearing date

    • Clearing reason code

    • Clearing document number

    • Clearing bank

    Correct Answer(s)
    A. Clearing date
    A. Clearing document number
    Explanation
    When you post a complete payment on an invoice, two pieces of information are updated on the invoice: the clearing date and the clearing document number. The clearing date represents the date on which the payment was successfully processed and cleared, indicating that the invoice has been fully paid. The clearing document number is a unique identifier assigned to the payment transaction, allowing for easy reference and tracking of the payment. These updates provide important information and documentation regarding the payment status of the invoice.

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  • 25. 

    When procurement transactions are posted, which of the following steps is exclusively carried out in Materials Management? Choose the correct answer.

    • Invoice receipt

    • Creation of purchase order

    • Goods receipt

    Correct Answer
    A. Creation of purchase order
    Explanation
    In the procurement process, the creation of a purchase order is exclusively carried out in Materials Management. This step involves generating a document that specifies the details of the goods or services to be procured, including quantity, price, and delivery date. The purchase order serves as a legally binding agreement between the buyer and the supplier. It is initiated in Materials Management to ensure proper tracking and control of the procurement process and to facilitate the subsequent steps of invoice receipt and goods receipt.

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  • 26. 

    How many intervals are defined for the foreign currency valuation run ID per client? Please choose the correct answer.

    • 0

    • 3

    • 1

    • 2

    Correct Answer
    A. 1
    Explanation
    The correct answer is 1 because the question is asking for the number of intervals defined for the foreign currency valuation run ID per client. Since it specifically asks for the number of intervals, the correct answer is 1, indicating that only one interval is defined for the foreign currency valuation run ID per client.

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  • 27. 

    Which of the following are posted in the program FAA_DEPRECIATION_POST? There are 3 correct answers to this question.

    • Ordinary depreciation such as book depreciation or imputed depreciation

    • Unplanned depreciation or other manually planned depreciation

    • Parallel APC values

    • Imputed interest

    Correct Answer(s)
    A. Ordinary depreciation such as book depreciation or imputed depreciation
    A. Unplanned depreciation or other manually planned depreciation
    A. Imputed interest
    Explanation
    The program FAA_DEPRECIATION_POST includes ordinary depreciation such as book depreciation or imputed depreciation, unplanned depreciation or other manually planned depreciation, and imputed interest. These are all types of depreciation and interest calculations that are posted in the program.

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  • 28. 

    Which of the following options are included in the Asset Explorer? There are 3 correct answers to this question.

    • Display depreciation calculation.

    • Drill down to reports.

    • Post documents.

    • Drill down to Financial Accounting (FI) document.

    Correct Answer(s)
    A. Display depreciation calculation.
    A. Drill down to reports.
    A. Drill down to Financial Accounting (FI) document.
    Explanation
    The Asset Explorer includes the options to display depreciation calculation, drill down to reports, and drill down to Financial Accounting (FI) documents. These options allow users to view and analyze asset depreciation, access detailed reports, and navigate to related financial documents for further analysis. The option to post documents is not included in the Asset Explorer.

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  • 29. 

    Which of the following methods can be used to transfer Asset Accounting (FI-AA) legacy data? There are 3 correct answers to this question.

    • For a manageable quantity of legacy data, use the manual transaction code AS91 and ABLDT

    • For a large to very large quantity of legacy data, use the legacy data transfer using a BAPI interface

    • For a small quantity of legacy data, use AS100

    • For a very large quantity of legacy data, use the direct input procedure (program RAALTD11)

    • For a large quantity of legacy data, use batch input procedure (program RAALTD01)

    Correct Answer(s)
    A. For a manageable quantity of legacy data, use the manual transaction code AS91 and ABLDT
    A. For a large to very large quantity of legacy data, use the legacy data transfer using a BAPI interface
    A. For a small quantity of legacy data, use AS100
    Explanation
    The correct answer suggests different methods for transferring Asset Accounting (FI-AA) legacy data based on the quantity of data. For a manageable quantity of data, the manual transaction code AS91 and ABLDT can be used. For a large to very large quantity of data, the legacy data transfer using a BAPI interface is recommended. And for a small quantity of data, the AS100 method can be used. This answer provides a range of options depending on the size of the legacy data, ensuring efficient and effective data transfer.

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  • 30. 

    Which of the following types of tasks are available in the Financial Closing Cockpit application? There are 3 correct answers to this question.

    • Task list template

    • Online transactions

    • Flow definition

    • Remote tasks

    Correct Answer(s)
    A. Online transactions
    A. Flow definition
    A. Remote tasks
    Explanation
    The Financial Closing Cockpit application offers three types of tasks: online transactions, flow definition, and remote tasks. Online transactions refer to tasks that can be completed directly within the application, such as entering financial data or approving transactions. Flow definition involves setting up and configuring workflows for financial closing processes. Remote tasks allow users to perform tasks from a remote location, such as reviewing and approving financial documents.

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  • 31. 

    Which of the following options are included in the Asset Explorer? There are 3 correct answers to this question.

    • Drill down to reports.

    • Drill down to Financial Accounting (FI) document.

    • Display depreciation calculation.

    • Post documents.

    Correct Answer(s)
    A. Drill down to reports.
    A. Drill down to Financial Accounting (FI) document.
    A. Display depreciation calculation.
    Explanation
    The Asset Explorer includes the options to drill down to reports and drill down to Financial Accounting (FI) documents. Additionally, it also includes the option to display depreciation calculation.

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  • 32. 

    You are asked to explain the assets under construction functionality in SAP S/4HANA. What should you highlight? There are 2 correct answers to this question.

    • It is possible to calculate and post depreciation in the balance sheet depreciation area for assets under construction.

    • It is impossible to use assets under construction with Investment Management.

    • It is possible to post special tax depreciation and investment support for assets under construction.

    • It is possible to post credit memos, even after assets under construction are fully capitalized.

    Correct Answer(s)
    A. It is possible to post special tax depreciation and investment support for assets under construction.
    A. It is possible to post credit memos, even after assets under construction are fully capitalized.
    Explanation
    The assets under construction functionality in SAP S/4HANA allows for the calculation and posting of special tax depreciation and investment support for assets that are still under construction. Additionally, it is possible to post credit memos even after the assets under construction are fully capitalized.

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  • 33. 

    A customer payment was received. An open item does NOT exist for the payment. How can you post the payment?

    • Create a down payment

    • Post payment on account

    • Post partial payment

    • Create a residual item

    Correct Answer
    A. Post payment on account
    Explanation
    To post the payment when there is no open item, the option "Post payment on account" can be chosen. This means that the payment will be posted as a credit to the customer's account, which can be applied to future invoices or used to offset any outstanding balances. This option allows for flexibility in managing the customer's account and ensures that the payment is properly recorded.

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  • 34. 

    In the integrated scenario for down payments, in what step of the process do you enter the down payment information?

    • Down payment monitoring

    • Goods receipt creation

    • Purchase order creation

    • Invoice verification

    Correct Answer
    A. Purchase order creation
    Explanation
    In the integrated scenario for down payments, the down payment information is entered during the purchase order creation step of the process. This is because the down payment is typically requested and agreed upon before the actual goods or services are delivered. Therefore, the down payment information needs to be included in the purchase order to ensure that it is properly documented and accounted for. Once the purchase order is created with the down payment information, it can then be used for subsequent steps such as goods receipt creation and invoice verification.

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  • 35. 

    SAP S/4HANA is the digital core of the intelligent enterprise. Which applications from the SAP portfolio integrate with SAP S/4HANA to help you perform human resource management? There are 2 correct answers to this question.

    • SAP Ariba

    • SAP C/4HANA

    • SAP Success Factors

    • SAP Fieldglass

    Correct Answer(s)
    A. SAP Success Factors
    A. SAP Fieldglass
    Explanation
    SAP Success Factors and SAP Fieldglass are the applications from the SAP portfolio that integrate with SAP S/4HANA to help with human resource management. These applications provide solutions for managing HR processes, such as talent management, workforce planning, and contingent workforce management. By integrating these applications with SAP S/4HANA, organizations can streamline their HR processes and make data-driven decisions to optimize their workforce management.

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  • 36. 

    How many posting period intervals in SAP S/4HANA are used for postings of Financial Accounting (FI) and Controlling (CO)? 

    • 12

    • 3

    • 2

    • 16

    Correct Answer
    A. 3
    Explanation
    In SAP S/4HANA, there are three posting period intervals used for postings of Financial Accounting (FI) and Controlling (CO). These intervals are used to define the time periods in which financial transactions can be posted. Each interval represents a specific time frame, such as a month or a quarter, and allows for the recording of financial data within that period. Having multiple intervals allows for greater flexibility in managing and reporting financial information, as different intervals can be used for different purposes or business units.

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  • 37. 

    You want to create a substitution in Financial Accounting. Which parts do you have to define for each step of the substitution? There are 2 correct answers to this question

    • Check

    • Replacement

    • Prerequisite

    • Message

    Correct Answer(s)
    A. Replacement
    A. Prerequisite
    Explanation
    For each step of the substitution in Financial Accounting, you have to define the replacement and the prerequisite. The replacement refers to the value or information that will be substituted in place of the original value, while the prerequisite is the condition or requirement that must be met in order for the substitution to occur. Both of these parts are necessary to ensure that the substitution is accurate and valid.

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  • 38. 

    Which of the following information is entered in the chart of accounts segment of a G/L account? There are 3 correct answers to this question.

    • Currency fields

    • Consolidation fields

    • Account number

    • Control fields

    Correct Answer(s)
    A. Consolidation fields
    A. Account number
    A. Control fields
    Explanation
    In the chart of accounts segment of a G/L account, three types of information are entered: consolidation fields, account number, and control fields. Consolidation fields are used to track financial information across multiple entities or business units. The account number is used to uniquely identify the G/L account. Control fields are used to define additional parameters or settings for the G/L account.

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  • 39. 

    What is the recommended organizational unit for cost-of-sales accounting? Please choose the correct answer

    • Functional area

    • Controlling area

    • Business area

    • Sales area

    Correct Answer
    A. Functional area
    Explanation
    The recommended organizational unit for cost-of-sales accounting is the functional area. This is because the functional area is responsible for managing specific functions within an organization, such as sales, production, or finance. Cost-of-sales accounting involves tracking and analyzing the costs associated with sales activities, such as the cost of goods sold. By assigning cost-of-sales accounting to the functional area, it ensures that the costs are accurately recorded and attributed to the appropriate department or function.

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  • 40. 

    Where can an SAP Fiori end user change the theme of their launchpad? Please choose the correct answer.

    • In the Me area of the launchpad

    • In the Tile Catalog area of the launchpad designer

    • In the UI theme designer

    • In the Tile Group area of the launchpad designer

    Correct Answer
    A. In the Me area of the launchpad
    Explanation
    In the Me area of the launchpad, an SAP Fiori end user can change the theme of their launchpad. This area typically contains personalization options for the user, such as changing the layout or theme of the launchpad.

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  • 41. 

    You want to configure the default baseline date for the payment terms of an incoming invoice. From which date can you derive the baseline date? There are 3 correct answers to this question.

    • Goods receipt date

    • Posting date

    • Entry date

    • Document date

    • Value date

    Correct Answer(s)
    A. Posting date
    A. Entry date
    A. Document date
    Explanation
    The baseline date for the payment terms of an incoming invoice can be derived from the posting date, entry date, and document date. These dates are important for determining when the invoice was recorded in the system and when it should be paid. The goods receipt date and value date are not relevant for determining the baseline date for payment terms.

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  • 42. 

    In Asset Accounting which object do you use to handle separate valuation for parallel accounting?

    • Valuation area

    • Depreciation area

    • Chart of depreciation

    • Depreciation key

    Correct Answer
    A. Depreciation area
    Explanation
    In Asset Accounting, the depreciation area is used to handle separate valuation for parallel accounting. A depreciation area represents a specific accounting principle or set of rules that determine how the asset's value will be calculated and recorded. By assigning different depreciation areas to an asset, parallel accounting can be achieved, allowing for separate valuations based on different accounting standards or requirements. This enables organizations to maintain accurate and compliant financial records for multiple accounting purposes.

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  • 43. 

    Which information is checked by the system before a general ledger account k archived?

    • The Blocked for Posting indicator is set in master data

    • The assigned group account is already archived.

    • The Mark of Deletion indicator is set in master data

    • The Open item Management indicator is set in master data

    Correct Answer
    A. The Mark of Deletion indicator is set in master data
    Explanation
    The system checks for the Mark of Deletion indicator in the master data before archiving a general ledger account. This indicator is used to identify if the account has been marked for deletion, indicating that it should no longer be used or displayed in the system. By checking this indicator, the system ensures that only active and relevant accounts are archived, maintaining data integrity and preventing unnecessary archiving of accounts that are still in use.

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  • 44. 

    A general ledger account has a foreign currency setting of CAD. The company code currency is USD. The controlling area currency is EUR. Which currencies can you post to in this account? Please choose the correct answer.

    • You can only post to the account in CAD and USD.

    • You can only post to the account in USD.

    • You can only post to the account in CAD.

    • You can only post to the account in CAD, USD, and EUR.

    Correct Answer
    A. You can only post to the account in CAD.
    Explanation
    The correct answer is "You can only post to the account in CAD." This is because the general ledger account has a foreign currency setting of CAD, meaning that transactions can only be recorded in Canadian dollars. The company code currency is USD, but since the account is set to CAD, transactions cannot be posted in USD. Similarly, the controlling area currency is EUR, but transactions cannot be posted in EUR either because the account is set to CAD. Therefore, the only currency that can be used to post transactions to this account is CAD.

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  • 45. 

    You want to specify the financial statement version for asset reports in Customizing. Where do you need to assign the financial statement version?

    • To each depreciation area

    • To each company code

    • To each accounting principle

    • To each chart of depreciation

    Correct Answer
    A. To each depreciation area
    Explanation
    In order to specify the financial statement version for asset reports in Customizing, you need to assign the financial statement version to each depreciation area. This ensures that the correct financial statement version is used for each depreciation area when generating asset reports. Assigning the financial statement version to each company code, accounting principle, or chart of depreciation would not be sufficient in this case.

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  • 46. 

    A document has several line items, with different reason codes entered. For the automatic payment, which correspondence type does the system choose? Choose the correct answer.

    • The one assigned to the tolerance group

    • The one in the line item with the largest amount

    • The one in the first line item

    • The system prompts for the user to assign one

    Correct Answer
    A. The one assigned to the tolerance group
    Explanation
    The system chooses the correspondence type that is assigned to the tolerance group. This means that when processing the automatic payment for the document, the system will select the correspondence type that is associated with the tolerance group specified for that document.

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  • 47. 

    Which of the following are the different history sheet groups that each version of asset history sheets can contain? There are 3 correct answers to this question.

    • Imputed interest

    • Book values at the end of the fiscal year

    • Acquisitions

    • Reposting

    Correct Answer(s)
    A. Book values at the end of the fiscal year
    A. Acquisitions
    A. Reposting
    Explanation
    The different history sheet groups that each version of asset history sheets can contain are book values at the end of the fiscal year, acquisitions, and reposting.

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  • 48. 

    How many cash discount periods can be entered in the terms of payment? Please choose the correct answer.

    • 3

    • 2

    • 8

    • 5

    Correct Answer
    A. 3
    Explanation
    The correct answer is 3 because cash discount periods refer to the number of times a buyer can receive a discount for paying their invoice early. Therefore, if there are three cash discount periods in the terms of payment, it means that the buyer has the opportunity to receive a discount on three separate occasions if they pay their invoice early.

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  • 49. 

    In which items of a financial statement version can you find values related to accounts for sales deductions and material expenses?

    • Sales deductions in liabilities item material expenses in loss item

    • Sales deductions in assets item Material expenses in loss item

    • Sales deductions in loss item Material expenses in loss item

    • Sales deductions in loss item Material expenses in liabilities item

    Correct Answer
    A. Sales deductions in loss item Material expenses in liabilities item
    Explanation
    The correct answer is Sales deductions in loss item and Material expenses in liabilities item. Sales deductions and material expenses are both expenses that reduce the overall profit or income of a company. Therefore, they are typically found in the loss item of a financial statement. Additionally, material expenses are considered liabilities because they represent the amount owed by the company for purchasing materials or goods.

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Quiz Review Timeline (Updated): Jan 27, 2023 +

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  • Current Version
  • Jan 27, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jun 22, 2020
    Quiz Created by
    Jonathan.miranda

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