SAP Practice Test Questions with correct Answers

Your customers do not pay open invoices. How can you accomplish an automatic flat-rate individual value adjustment? - ANSWER Enter a value adjustment key in the customer master. Create and dispatch a valuation run for ...

Your customers do not pay open invoices. How can you accomplish an automatic flat-rate individual value adjustment? - ANSWER Enter a value adjustment key in the customer master. Create and dispatch a valuation run for each period during closing operations. Which interactive function is provided by the SAP List Viewer? - ANSWER Creation of subtotals for specific values your compant code uses USD as the company currency. You are trying to post to an account in EUR but get an error message that you cannot post to this account. What is the reason? - ANSWER the account determination for exchange rate differences is missing for the account Identify the main areas of the Implementation Roadmap from the items listed below? - ANSWER Roadmap structure Attachments area Viewing / Text area IMG area You are asked to set up the accounting structure to facilitate segment reporting based on the SAP standard segmentation scenario. Which organizational unit can be used to derive the segment? - ANSWER Profit center While posting a G/L document, two different field statuses (for the posting key and the G/L account) have an impact on the posting. What happens if one field status is set to Required Entry and the other one to Hidden Entry ? - ANSWER An error message will occur. Which of the following statements are true? - ANSWER Every company code that needs to use an account from the assigned chart of accounts has to create its own company code segment. In the chart of accounts segment, it is necessary to indicate whether the account will be a balance sheet or a profit + loss statement account. Number intervals for G/L account master records can overlap. The government announces that it plans to change the basic VAT tax percentages from 20% to 18%. What do you have to do in the system in order to comply? - ANSWER create new tax codes with the 18% VAT percentage for input and output tax Which of the following tax types does the SAP System support for calculating, posting, and correcting tax, as well as for tax reporting? - ANSWER Tax on sales & purchases Withholding Tax Additional Taxes Which of the following lists can be printed to help you edit a dunning proposal? - ANSWER Blocked accounts Blocked line items You want to post an invoice from vendor. The vendor has specified an alternative payee. The alternative payee is not a vendor or customer in your system. Which of the following functions enables you to capture the data when processing the invoice? - ANSWER Individual specifications You configure the available amounts for bank accounts. What happens to these available amounts during the payment run? - ANSWER They are not updated. If a vendor is also a customer, it is possible to clear both roles against each other. Which settings are necessary to implement this ? - ANSWER The vendor number must be entered in the customer account or the customer number must be entered in the vendor account. The "Clearing with Vendor" field must be selected in the customer account, and the corresponding field must be selected in the vendor account. Which of the following items can you assign directly to the asset master record on the Time-Dependent tab? - ANSWER segment Standard ASAP (Accelerated SAP) roadmaps outline the activities involved in SAP solutions Identity the main types of roadmaps? - ANSWER Global Template Roadmap Solution Management Roadmap Upgrade Roadmap Implementation Roadmap You need to assign more than one company code to one controlling area. Under what kind of a business scenario would you need to consider such a decision? - ANSWER Cross-company code transactions that MUST be processed in a controlling area Multilevel Product Cost Management across company codes Your customer wants to add a new company code and asks you to make the configuration settings for document types and number ranges. What do you have to do? - ANSWER Define number ranges for the new company code. The organizational units of Financial Accounting are used for external reporting purposes that is, they fulfill requirements that your business is subject to from external parties (e.g. legal regulations) Which of the following Organizational units are Mandatory in an ERP system with Fl? - ANSWER Client Fiscal Year Company Code Which objects can be assigned to an asset master record with New General Ledger Accounting? - ANSWER Profit center Internal order Segment Which of the following describe characteristics of master data? - ANSWER Master data is typically assigned to organizational levels. Master data is used on a long-term basis for multiple business processes. Which objects can be assigned to an asset master record? - ANSWER WBS element Cost center Internal order You want to make the line item text field mandatory during document entry. What customizing objects can you maintain to do this? - ANSWER posting key fields status group Which of the following objects can be used to derivate segments automatically? - ANSWER Profit center Which specifications can you choose in the reverse document header data to reverse a general ledger posting? - ANSWER posting date To which of the following does an asset class apply? - ANSWER To all company codes in a client Which SAP NetWeaver component realizes cross-system application processes? - ANSWER SAP Exchange Infrastructure (SAP XI) how can you avoid the creation of duplicate vendor master data? - ANSWER use match codes and activate the automatic duplication check What is the maximum number of line items of an FI document? - ANSWER 999 Which parameters do you have to specify if you want to execute a payment run? - ANSWER Company code Payment method Your customer wants to use the Closing Cockpit for period end closing. What major benefits of the Closing Cockpit do you highlight? - ANSWER It enables the use of a task list covering all closing activities. It provides complete documentation of the activities performed during period-end closing. A customer wants to use segment reporting on balance sheet and P/L accounts. Which business function do you recommend? - ANSWER New General Ledger Accounting You have posted an incorrect amount in Financial Accounting. How can you correct this? - ANSWER Reverse the document by normal reversal posting. Reverse the document by negative posting. you have 50euro debit and 80 euro credit on an account. This account is assigned to the assets side in a financial statement version, with the debit indicator and the credit indicator set. How is this shown on the balance sheet? - ANSWER the balance is shown on the assets side. Which of the following objects can you post to via the cash journal? - ANSWER Customer One-time customer ASAP (Accelerated SAP) Roadmap is aimed at providing step-by-step direction and guidance throughout the project implementation. Please choose the correct order of the 5 Phases in the project implementation lifecycle? - ANSWER 1) Project preparation, 2) Business blueprint, 3) Realization, 4) Final preparation, 5) Go Live & Support Which two data sections are part of every asset? - ANSWER Master data section Depreciation data section You entered a non-invoice-related credit memo and selected Net Due 30 Days as the term of payment. The Invoice Reference field is empty. What effect does this have on the term of payment entered in the credit memo ? - ANSWER The term of payment entered in the credit memo is ignored during clearing. You configured new Asset Accounting with three depreciation areas that post in real time. You need to post a partial scrapping to an asset in the leading ledger. How many documents does the transaction create? - ANSWER 1 you are using the accounts approach to parallel valuation and classic Asset Accounting. You need to create a new financial statement version to keep track of the group valuation based on IFRS principles. In asset accounting, what posting options can you choose for the new depreciation area? - ANSWER area posts APC directly and depreciation periodically Area posts APC and depreciation periodically In the New General Ledger Accounting, how would you incorporate companies with different fiscal years if you wanted to assign them to the same controlling area? - ANSWER Create company codes with the same fiscal year variant and assign the company codes that have a different fiscal year to non-leading ledgers with the appropriate fiscal year variant. what can you edit in the payment proposal? - ANSWER payment block for an open item assignment to another house bank cash discount for each line item For reports in Asset Accounting, which object do you have to use and, where necessary, customize to determine the sort level and/or the summation level ? - ANSWER Sort variant Which of the following are the main components of a drilldown report? - ANSWER Characteristics and key figures Identify the features of a Business Blueprint ? - ANSWER Business process groups Blueprint structure Blueprint document Associated items Business scenarios What are the prerequisites for posting a vendor invoice in Financial Accounting? - ANSWER You have set up a number range for the vendor invoice document type. You have created a company code segment in the vendor master. Fiscal year variant F! has six posting periods and fiscal year variant F2 has four posting periods. The posting periods have different start and end dates for each fiscal year. Variant F1 is assigned to leading ledger (0L) and F2 assigned to the non-leading ledger(N1). You get an error message when making a posting in the non-ledger ledger. What causes this error message? - ANSWER posting period for the non-leading ledger group ''N1'' is closed During period end closing, the G/L accounting clerk posted a document with an incorrect account assignment. The clerk discovered the problem immediately after posting and wants to know how to reverse the document so that it does not affect debit and credit balances. Which reversal code does the clerk need to use? - ANSWER actual reversal in current period Your customer is running an SAP ERP system with New General Ledger Accounting activated. All scenarios, but no customer fields, are assigned to the leading ledger. Which objects in the totals table (FAGLFLEXT) can be evaluated with drilldown reports? - ANSWER Segments, profit centers, cost centers, business areas, functional areas What happens at the goods receipt step of the reconciliation process? - ANSWER FI and MM are updated simultaneously. The material stock account is debited and the invoice receipt is credited. On which level do you define depreciation keys? - ANSWER Chart of depreciation Which account assignment objects can be maintained directly in the asset master data in SAP ERP 6.0 EhP5 (Enhancement Package 5) with new G/L activated ? - ANSWER Segment Profit center what do you need to configure in order to create a correspondence type? - ANSWER print program form What happens when the debit balance check runs and a vendor is selected? - ANSWER the vendor is blocked for this payment run What are the benefits of using the accrual engine? - ANSWER The accrual engine calculates the accrual amounts automatically. The accrual engine can simulate planned future accruals. The accrual engine supports parallel accounting. which information do you maintain for house banks? - ANSWER bank accounts for each house bank information for electronic payments transactions general ledger accounts Which Customizing settings can you make for payment terms? - ANSWER Determine whether a payment term is valid only for the vendor, only for the customer, or for both customer and vendor Determine a default payment method for the line item Determine that invoices are locked for payment What does the posting key control? - ANSWER Debit/credit indicator Field status (of posting key) Account type Which of the following are interactive functions available in the SAP List Viewer? - ANSWER Summation Filters Sorting In a payment run, the data entered for a payment method in the document may differ from the master data. How is this resolved by the system ? - ANSWER Document data overrides master data. For the creation of drill down reports, what objects do you need to define? - ANSWER forms key figures Characteristics In the customer master record, what does the account group control? - ANSWER the customer number range the field status in the customer master record During reorganization, two cost centers are merged, and all future postings should go to only one of them. If postings are made to the wrong cost center in future FI-postings, your customer wants to ensure that the wrong cost center is automatically replaced by the correct one. What will you recommend? - ANSWER Define a substitution in FI with the wrong cost center as a prerequisite and the correct one as the substituted value. Which transactions in the procurement process with valuated goods receipt create documents in FI? - ANSWER Post valuated goods receipt Enter invoice receipt Which characteristics of account determination can be used to assign realized exchange rate differences to different G/L accounts ? - ANSWER Chart of accounts Reconciliation account Currency Consider the following sentences, Which of these combinations is true? 1) A base currency can be assigned to an exchange rate type. 2) To deal with exchange rate spreads, two very efficient combinations of the exchange rate tools are using a base currency for the average rate (M) and using the exchange rate spreads to calculate the buying and selling rates (B and G). 3) A base currency can be used for an average, a buying or a selling rate. 4) The relations between currencies have to be maintained per exchange rate type and currency pair in the translation factors. - ANSWER 1, 2 and 4 A company code is... - ANSWER An independent accounting entity (the smallest organization element for which a complete self- contained set of accounts can be drawn up). Which of the following factors determine field status for vendors? - ANSWER Account group, transaction, and company code What is the disadvantage of using the group chart of accounts? - ANSWER Because the company codes use different operational chart of accounts, you cannot carry out cross-company code controlling. The chief accounting officer wants the values for a special group of assets to be shown separately in the general ledger. Which objects do you need to create in Customizing for Asset Accounting to meet this requirement? - ANSWER a new asset class a new account determination key Which activity will have an impact on the net book value of an asset? - ANSWER Changing the useful life of the asset About evolution in the world of business, we can affirmate that... - ANSWER The internet has driven to a collaborative environment where value is created through collaboration within business communities. A multinational enterprise acquires a company in a country which has local reporting requirements. The multinational enterprise wants to use one operational chart of account for all companies. How can you fulfill this country-specific requirement ? - ANSWER Create a country-specific chart of accounts and assign it to the company code. which depreciation type allows fluctuations in activity to be considered when calculating depreciation? - ANSWER unit of production depreciation Which of the following status symbols are used in customer and vendor line item lists? - ANSWER Cleared Parked Open Your company uses only book depreciation and you activate the new depreciation engine. The book depreciation key Z010 curently used by an asset should be changed to Z020. The asset depreciation started two years ago, and depreciation for the current year has already been posted for the months of January, February, and March (monthly depreciation run). The change should take effect from April 1st.How can you implement this change? - ANSWER Call the Depreciation Areas screen in the asset master and assign the key Z020 with validity start date of April 1st. Create a new asset referencing the asset you want to change. On the Depreciation Areas screen, select depreciation key Z020. Then post an asset transfer from the existing asset to the new asset. At which level is the vendor account number (master record) assigned? - ANSWER At the client level You receive a payment where the difference from the posted invoice is larger than the stated tolerance limit. How can you deal with this? - ANSWER Post the difference to an account assigned to a reason code. Post the difference as a residual item. which elements do you need to enter during document posting to distinguish between international and local Generally Accepted Accounting Principles (GAAP)? - ANSWER Ledger for the Ledger Approach Accounts for the Account Approach it is common for companies to receive invoices for the previous fiscal year at the beginning of the new fiscal year. Which dates must have the same fiscal year in the document entry? - ANSWER posting date and asset value date Your customer's Accounting department informs you that the company issues checks. They need to easily differentiate payments made by check. How can you facilitate this requirement? - ANSWER Use the payment method for checks. Which of the following statements are true? - ANSWER Every company code that needs to use an account from the assigned chart of accounts has to create its own company code segment. Number intervals for G/L account master records can overlap. In the chart of accounts segment, it is necessary to indicate whether the account will be a balance sheet or a profit + loss statement account. Which are the correct series of steps in the payment program? - ANSWER Maintain parameters, Proposal run, Execute a payment run, Printing Payment Media. Which object can be used to derive the profit center automatically during posting? - ANSWER cost center which of the following tasks are stages of dunning execution? - ANSWER schedule the dunning run maintain the dunning parameters what is controlled by the terms of payment? - ANSWER default payment method determination of the baseline date Consider the following sentences about the chart of accounts segment, which of these combinations are false? 1) It contains the Company Code, Account number and the field status group. 2) Whenever you need to enter information for a company code for an account number, you have to type again the information related to chart of accounts segment. 3) Texts can be displayed using the program "Account assignment manual"(RFSKTHOO). 4) Keywords facilitate the search for account numbers. - ANSWER 1 and 2 Consider the following sentences about the direct quotation, what is the correct option? 1) It is also known as price notation. 2) The currency value is expressed in units of the foreign currency per unit of local currency 3) For direct quotation, the prefix to indicate the rate is "/". - ANSWER 2 what functions within Asset Accounting allow mass processing? - ANSWER mass asset retirements mass asset changes A customer is running SAP ERP 6.0 with New General Ledger Accounting. For which purpose can they use the Closing Cockpit? - ANSWER To perform periodically recurring activities to which organizational unit can you assign your validation and substitution? - ANSWER company code Which functions are provided by the Reclassify Payables/Receivables closing activity? - ANSWER Adjustment postings for changed reconciliation accounts Regrouping and sorting of payables and receivables when capturing an incoming payment manually, which date is part of the bank data section of the document? - ANSWER value date Which line item field is filled automatically by the sort key field of a master record (G/L account, customer, or vendor)? - ANSWER Assignment What elements of a customer account are created when you maintain the account decentralized in Financial Accounting? - ANSWER General data and company code data Which of the following special G/L transactions are noted items? - ANSWER down payment request bill of exchange payment request Your customer wants to clear minor payment differences for incoming payments automatically. Which objects do you have to use to fulfill this requirement ? - ANSWER Tolerance groups for employees and tolerance groups for customers/vendors Which information is updated on the invoice when posting a complete payment? - ANSWER Clearing document number Clearing date Consider the following sentences, which of these are true? 1) Reconciliation accounts are general ledger accounts assigned to the business partner master records to record all transactions in the sub-ledger 2) For accounts without line item display, the most important data from the posted line items is stored in a special index table. 3) The account currency must be in the local currency. 4) Items in accounts with open item management means the G/L accounts should have a offsetting posting for a given business transaction. - ANSWER 1 and 4 Which of the following objects must you enter when posting an asset acquisition against a vendor? - ANSWER Transaction type Document type Asset master record Which Customizing settings can you make for payment terms? - ANSWER