Financial Accounting (FI) with SAP ERP 6.0 EHP4- Application Associate Certification Exam QuestionsThese questions are similiar to the ones asked in the actual Test.

How should I know?  I know, because although I got my FI/CO Certification five years back, I have re-certified with the latest version of the Associate Certification test.

Before you start here are some Key features of the FI Associate Certification Exam

- The exam is Computer based and you have three Hours to answer 80 Questions.

- The Questions are (mostly) multiple choice type and there is NO penalty for an incorrect answer.

- Some of the Questions have more than one correct answers. You must get ALL the options correct for you to be awarded points.

- The Official Pass percentage is 65% (But this can vary). You will be told the exact passing percentage before your begin your test.

- 35% questions are from TFIN50_1. 30% are from TFIN50_2. 20% are from TFIN52_1. 10% are from TFIN52_2.

Sample Questions

1. The organizational units of Financial Accounting are used for external reporting purposes, that is, they fulfil requirements that your business is subject to from external parties, for example, legal regulations.Which of the following Organizational units are mandatory in an ERP system with FI?(More than one answer is correct)

A.        ClientB.        Business AreaC.        Company codeD.        Company

Answer:A, C

You create your company-specific organizational structure in the SAP System by defining the organizational units and making the basic settings. Defining organizational units for Financial Accounting is obligatory, that is, you have to define these units in order to be

able to implement the Financial Accounting component.

Organizational unit        DefinitionClient                                  ObligatoryCompany                           OptionalCompany code                 ObligatoryBusiness area                  Optional

Apart from this, there are certain Basic settings that are mandatory as well. These are:

Chart of accounts

Fiscal year

Currencies

2. You can configure different types of Chart of Accounts in the ERP system. Some of these are:

A. Operating chart of accounts

B. Group chart of accounts

C. Country-specific chart of accounts

D. Plant specific chart of accounts

Answer:A, B, C

Charts of accounts can have three different functions in the system:

•        Operating chart of accountsThe operating chart of accounts contains the G/L accounts that you use for posting in your company code during daily activities. Financial Accounting and Controlling both use this chart of accounts.You have to assign an operating chart of accounts to a company code.

•        Group chart of accountsThe group chart of accounts contains the G/L accounts that are used by the entire corporate group. This allows the company to provide reports for the entire corporate group.The assigning of an corporate group chart of accounts to a company code is optional.

•        Country-specific chart of accountsThe country-specific chart of accounts contains the G/L accounts needed to meet the country's legal requirements. This allows you to provide statements for the country's legal requirements.The assigning of an country-specific chart of accounts to a company code is optional.

3. The company code, business area and controlling area organizational units can be combined in a number of ways. Using these combinations you can represent organizations with different structures. Which of the following are valid combinations?

A. One Company Code can be assigned to multiple Controlling areas

B. One Controlling area can be assigned to multiple company codes

C. One business area can be assigned to multiple company codes

D. One company code can be assigned to multiple business areas

Answer:B, C, D

•        One Controlling Area is Assigned to One Company CodeIn this example, the financial accounting and cost accounting views of the organization are identical.

•        Multiple Company Codes Assigned to One Controlling AreaThis example is Cross-Company Code Cost Accounting. Cost accounting is carried out in multiple company codes in one controlling area. All cost-accounting relevant data is collected in one controlling area and can be used for allocations and evaluations. In this case, the external and internal accounting perspectives differ from each other.For example, this method can be used if the organization contains a number of independent subsidiaries using global managerial accounting. Cross-company code cost accounting gives you the advantage of using internal allocations across company code boundaries.

Company Codes and Business areas have an n:m relationship

4.  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?

A. Cross-company code transactions that MUST be processed in a controlling area

B. Multilevel Product Cost Management across company codes

C. Representation of intercompany processes, whereby producing and delivering plant are the same.

Answer:A, B

A 1:n relationship between controlling area and company code is recommended for the following situations:

•        Cross-company code transactions that MUST be processed in a controlling area, for example, production in an associate plant, special cases of intercompany processing.

•        Cross-company code CO postings that can be displayed in the reconciliation ledger, such as assessments, capitalization of internal activity in Asset Accounting, activity allocation.

•        Representation of group costing.

•        Use of Profit Center Accounting and transfer prices.

•        Multilevel Product Cost Management across company codes

A 1:1 relationship between controlling area and company code is recommended for the following situations:

•        Consolidated analysis of settled transactions across company codes in Profitability Analysis (CO-PA) In this situation, you assign more than one controlling area to an operating concern

•        Representation of intercompany processes, whereby producing and delivering plant are the same.

5.  Which of the following tax types does the SAP System support for calculating, posting, and correcting tax, as well as for tax reporting?

A. Tax on sales & purchasesB. Withholding TaxC. Top Up TaxD. Additional Tax

Answer:A, B, D

The following Tax types are supported in a standard SAP system:

Tax on sales and purchasesTaxes on sales and purchases are levied on every sales transaction in accordance with the principles of VAT. This applies to input and output tax, for example.Input tax is calculated using the net invoice amount and is charged by the vendor.Output tax is calculated using the net price of products and is charged to the customer.Companies can offset input tax against output tax, paying the balance to the tax authorities. Tax authorities can set a nondeductible portion for input tax which cannot then be claimed from the tax authorities.

Additional taxAdditional taxes are taxes that are posted in addition to tax on sales/purchases. They are usually country-specific, such as investment tax in Norway, or sales equalization tax in Belgium.

Sales taxAn example of sales tax is the sales and use tax that exists in the USA. Sales transactions that are taxed must be kept strictly separate from sales transactions that are not taxed.

In general, goods that are intended for production or for resale to a third party are procured untaxed; that is, the vendor does not calculate tax on the sale of these goods (sales tax). Procurement transactions for individual consumption, on the other hand, are taxable (use tax).The principle of sales tax does not permit the option of offsetting input tax against output tax. The vendor must pay the taxes to the tax authorities.The system calculates sales tax based on material and customer location and posts it in Sales and Distribution (SD) and Materials Management (MM). If customers or vendors are exempt from taxation, you can specify this in their master records by entering the appropriate indicator.

Withholding taxIn some countries, a portion of the invoice amount must be withheld for certain vendors and paid or reported directly to the tax authorities.SAP currently provides two functions for calculating withholding tax: Classic withholding tax and extended withholding tax.

Extended withholding tax includes all the features of classic withholding tax and, in addition, also fulfills a number of further country-specific requirements.If you wish to implement the withholding tax functions, you should choose extended withholding tax.

6. Depending on your system’s configuration, the system can generate and post line items automatically. For which business transactions can this be done?

A. Entering a customer invoiceB. Entering Special G/L transactionsC. Posting a Vendor Payment

Answer:A, B, C

The following line items are generated for each of the above business transactions:

Entering a customer or vendor invoice   •        Tax on sales/purchases (output tax when posting a customer invoice, input tax when posting a vendor invoice)•        Payables and receivables between company codes (when posting cross-company code transactions)

Posting a customer or vendor payment and clearing open items       •        Cash discount (paid and received when posting payments)•        Backdated tax calculation for tax on sales/purchases (after cash discount deduction)•        Gains and losses from exchange rate differences (between invoice and payment)•        Unauthorized deduction of cash discount (when a payment is slightly different to the amount due)•        Residual items•        Bank charges

Entering special G/L transactions       •        Bill of exchange charges•        Tax adjustment for a down payment

7. You can add details to any automatically generated line item. For example, you can add text to a tax on sales/purchases line item.

A. TrueB. False

Answer:A

If you are permitted  to make additional account assignments to the automatically generated line items, the system branches directly to the document overview. Here, the automatically generated items are highlighted.

To enable this, you need to make sure that the G/L account is marked as adjustable and that the appropriate field is defined as optional or required in the field status group.

8. The document type is a key that is used to classify accounting documents. It is entered in the document header and applies to the whole document.Which of the following purposes are achieved by using document types?

A. Assigning document numbersB. Posting to account typesC. Clearing line itemsD. Differentiating between business transactions

Answer:A, B, D

The following purposes are served by using 'Document Types:

•        Differentiating between business transactions. The document type tells you instantly what sort of business transaction is in question. This is useful, for example, when displaying line items for an account.

•        Controlling the posting to account types (vendor, customer, or G/L accounts). The document type determines which account types that particular document can be posted to.

•        Assigning document numbers. A number range is assigned to every document type. The numbers for the documents you create are taken from this number range. The original documents from one number range should be stored together. In this way, the document type controls document storage.For more information, see Document Number Assignment and Controlling Document Storage Using the Document Type

•        Applying the vendor net procedure. This means that any discount and the net amount are calculated (and posted) when the vendor invoice is posted.

9. If you have entered an incorrect document, you can reverse it, thereby also clearing the open items. With reference to 'document reversal', which of the following are true?

A. A document can be reversed if it has no cleared itemsB. Documents in MM can be reversed with a credit memoC. If the posting period of the source document has already been closed, you have to

enter a date that falls in an open posting period (for example, the current one) in the Posting date field.

Answer: A, C

A document can only be reversed if:●      It contains no cleared items●      It contains only customer, vendor, and G/L account items●      It was posted with Financial Accounting●      All entered values (such as business area, cost center, and tax code) are still valid

If a line item from a source document has been cleared, a reversal can only be carried out after the clearing is reset. Information on clearing is available in FI General Ledger Accounting as well as FI Accounts Receivable and Accounts Payable.

Documents from SD can be reversed with a credit memo.

Documents from MM must be reversed with functions in that component because the reversal function in FI does not reverse all the values required.

There are two ways of updating transaction figures when reversing a document:●      The document and the reverse document increase the account transaction debit and credit figures by the same amount.●      After a document has been reversed, the balance of the account affected is shown as if the document had never been posted. (Negative Postings)

You generally post the reversal document in the same posting period as the corresponding original document. If the posting period of the source document has already been closed, you have to enter a date that falls in an open posting period (for example, the current one) in the Posting date field.

10. A number of periodic tasks are executed on a regular basis (daily, weekly, or monthly) in the SAP System. This process is supported by the individual components of the Schedule Manager. Which of the following are components of the Schedule Manager?

A. Flow definitionB. SchedulerC. MonitorD. Exception area

Answer: A, B, C

The following are the key components of schedule manager:

Flow definitionIn a flow definition, you can link tasks to each other if they are related or if you wish to use a worklist in them. You can therefore schedule a flow definition as a task in the scheduler.

SchedulerIn the scheduler, you can schedule tasks in a structure tree. You can use drag-and-drop in a daily overview to enable the system to execute the tasks at a certain time.

MonitorThe monitor gives you an overview of the scheduled tasks during and after processing. You can correct faulty objects in a worklist.

WorklistObjects that are to be processed in a processing step sequence are managed in the worklist.The worklist monitor presents information such as which objects were processed without errors and which objects could not be processed. You can display information on the cause of errors, and thus control the way in which the object is processed further.The worklist ensures that when a processing step sequence is processed again, the system only processes the objects which had errors or which you manually instructed the system to reprocess.

11. You would like to use recurring entries for periodic transaction. Which of the following are False with reference to 'recurring entries'?

A. Posting Key, Account and Amount never change in recurring entriesB. Postings can be made periodically or on a specific dateC. Recurring documents do Not require a separate number range.

Answer: C

Recurring entries are business transactions that are repeated regularly, such as rent or insurance. The following data never changes in recurring entries:•        Posting key•        Account•        AmountsYou enter this recurring data in a recurring entry original document. This document does not update the transaction figures. The recurring entry program uses it as a basis for creating accounting documents.StructureThe system uses the recurring entry original document that you enter as a reference. It is not an accounting document and therefore does not affect the account balance.In the recurring entry document, you define when a posting is to be created with this document. You have two options for scheduling. Postings can be made periodically or on a specific date:•        For periodic postings, specify the first and last day of execution, as well as the interval in months.•        If you want to specify certain dates, enter a run schedule in the recurring entry original document. Store the required dates in the Implementation Guide (IMG). Choose Define Run Recurring Entries Document Financial Accounting Global Settings Schedules/Enter Run Dates.

To post recurring entry documents, you have to set up a separate number range for the company codes that use them. You have to use key X1 for the number range. The system takes numbers for the recurring entry original document from this number range.

12. You are responsible for 'dunning' configuration. Which of the following are part of configuring the dunning functionality?

A. Dunning Codes

B. Dunning ItemsC. Dunning areas

Answer: C

The dunning configuration consists of configuring the following:

•        Dunning procedureThe dunning procedure controls how dunning is carried out by the system. You can define as many dunning procedures as you like.

•        Dunning levelThe dunning levels are calculated based on the number of days open items are in arrears. You can also have the system calculate the dunning levels based on the dunning amount or a percentage paid (sales-related dunning level determination).You can determine more than one dunning level per dunning procedure.

•        Dunning areasA dunning area is an organizational unit within a company code used for the dunning process.A dunning area can be a division or a sales organization. You assign a dunning area to an open item when you are posting. You can dun items separately by dunning area.

Correspondence Review Questions

1. Examples of correspondence include:

A. Bank statements B. Special Ledger posting C. Dunning letters D. Held documents

2.  Which of the following statements are true regarding correspondence types?

A. They represent a type of form letter B. One must create a different correspondence type for each letter you need C. You can only use the standard correspondence types when creating a new correspondence letter D. If you want to make changes to a correspondence letter you copy the desired correspondence type and change the new correspondence type accordinglyE. All of the above

3.  Which of the following information needs to be defined when creating correspondence types? (select all that apply)

A.  Required information B.  Number of date fields required C.  If additional text can be added to the form D.  Fiscal Year Variant E.  If the correspondence can be used across company codes

4. When linking correspondence types to transactions, if no entry exists for a company code, the correspondence types specified without a company code are offered. True or False?

Answer: True

5. Each Print program has a selection variant that:

A. Contains parameters to generate the desired correspondence B. Is used to print the requested correspondence C. Used when creating correspondence automatically D. Can be distinguished using company code E. All of the above

6. It is possible to link Correspondence types with which of the following:

A. Reason Codes B. Chart of Accounts C. Tolerance groups     D. Special GL postings

Answers

1. A,C2. A,B,D

3. A,B,E

4. True

5. A,B,C

6. A,C

Country Specifics Review Questions

1) Documents involved in check management include:A. Vendor InvoiceB. Payment DocumentsC. Packing SlipD. Receipt of GoodsE. All of the Above

2) Voiding checks is necessary when:A. Cash payment is madeB. Checks damaged while printingC. Check printed incorrectlyD. Check is made for individual vendorE. All of the above

3) When you void a check, the following is/are updated:a. Payment Documentb. Original Invoicec. Check Register

d. Cash Account e. All of the above

4) The display screen for Check Register can show the following:f. Check Numberg. Check Recipient h. Check Amounti. Currencyj. All of the above

5) Which of the following does not occur once the customer sends his/her check and remittance advice is sent to the vendor's bank?

A. Data File is sent to vendor.B. Payment advice is sent to A/R.C. Vendor's Bank credit's vendor's account.D. Posts G/L entryE. None of the above

6) Which of the following should be on the lockbox file (more than one answer):

A. Check AmountB. Payment DateC. Customer's B-DayD. Invoice NumberE. Customer's Age

7) The following process is carried out during the posting of lockbox entries when clearing customer invoices.A) Posting to a GL account, Posting then carried to accounts payable, then the invoice is cleared against an open item in the vendor master.B) Posting to a cash account in the GL, Credited by a clearing account which then posts to account receivable and that is offseted by a vendor invoice. Open items in vendor are clearedC). Posting to a cash account in the GL, Credited by a clearing account which then posts to account receivable and that is offseted by a customer invoice. Open items in customer are clearedD) The user manually goes to the customer record and manually clears the open item while posting a receipt to the open item. 8) The payment advice notes contain the following.A) Check No. B) Routing No.C) Payment deductionsD) Payment DatesE) Payment advice typeF) All of the above

Answers

1. A,B2. A,B,C3. A,B,C

4. J5. E6. A,B,D7. C8. B,C,D

Drilldown Reporting Review Questions

1. Examples of characteristics in drilldown reporting include:

A. Company codeB. Business areaC. Plan/actual indicatorD. Time referenceE. All of the above

2. The following are types of forms:

A. one axis w/o key figureB. one axis with key figureC. matrixD. all of the aboveE. none of the above

3. In drilldown reporting in Financial Accounting, the drilldown characteristics are used to navigate in the report. To improve performance of navigation, you should:

A. not select characteristics that you do not need in the drilldown reportB. only retain the characteristic that you actually requireC. sort the order of the characteristics of personal preferenceD. A and BE. all of the above

4. Which of the following are examples of key figures:

A. Balance sheet valueB. Number of employeesC. Plan/actual varianceD. B and CE. A, B, and C

5. Select the option that is not true about report-report interface:

A. Link individual reportsB. Perform flexible data evaluations onlineC. Balance GL account line itemsD. Reports have a limited number of characteristics

6. The following are types of forms in drilldown reporting (more than 1 answer):

A. Key FiguresB. Report PainterC. AR/AP line item analysisD. GL account balance

E. All of the above

7. True/False: It is possible to switch between the detailed list view and the drilldown list view in reports.

8. True/False: A form describes the basic content and formal structure of report lists.

Answers

1. E2. D3. D4. E5. C6. A,C,D7. True8. True

GL, AP, AR Reporting Questions

1. The following dynamic date calculations are currently implemented for selection variables in report variants:

A. current dateB. next working day of current monthC. current date +/- ?? daysD. from month start to todayE. A-CF. all of the above

2. Information systems are important because:

A. They can provide reports in G/L, A/P and A/RB. They can allow users to define user settingsC. They reveal configuration information about the SAP systemD. None of the aboveE. All of the above

3. True/False: Variants allow you to execute a report repeatedly with different selection criteria in different variants.

4. True/False: Table variables in TVARV can store statistical information that can be used in different reports.

5. Which of the following statements about reports are true?

A. Reports start with RFK_ for customersB. Reports start with RFD_ for vendorsC. Reports are included in role-based user menus

D. Reports can be accessed using the information system for each areaE. Reports that start with RF are differentiated by account type

6. True/False: You must enter values for selection criteria each time you start a report

7. True/False: Dynamic selections is used for A/R reports.

8. Which of the following reports is the A/P information system split into?

A. vendor balancesB. invoice ledgersC. vendor itemsD. master dataE. payment transactions

Answers

1. F2. A3. True4. True5. C,D,E6. False7. False8. A,C,D,E

Asset Information System Review Questions

1. Asset Explorer offers extensive possibilities for evaluating individual asset master records. Which of the following are Asset Explorer options?a. Go to FI documentb. Display depreciation calculationc. Display substitution ruled. Call reportse. All of the above

2. Which of the following values are displayed in Asset Explorer?a. Development of the NBVb. Simulated values based on depreciation keysc. Simulated transactionsd. All of the abovee. None of the above

3. Simulation versions allow you to:a. Create a preview of how the values for individual assets will develop by means of

simulated transactions and/or simulated depreciation termsb. Simlulate a change in depreciation method for asset value/depreciation reportsc. Define a substitution rule to include other depreciation parameters in the simulationd. B & Ce. All the above

4. Depreciation simulation applies an experimental change of depreciation parameters to:

a. A single assetb. The entire asset portfolioc. Parts of the asset portfoliod. All of the abovee. None of the above

5. Using depreciation simulation, the system can determine:a. A: How much of the costs have been settled to assets under constructionb. B: Assets values at fiscal year endc. C: A and Bd. D: None of the Above

6. Important List Viewer functions include:a. Calculating totals or subtotals across one or more columns within a listb. Deleting and inserting columnsc. Defining your own asset history sheet versionsd. Setting filterse. Simulate depreciation for assets

7. One of the main advantages of the SAP list viewer (ABAP) is/are:a. Dynamic creation of layoutsb. Dynamic creation of assetsc. Dynamic creation of variantsd. Filter sorte. All of the abovef. None of the above

8. The asset history sheet lists assets:a. Per company codeb. In country versionsc. Per transactions typed. All of the above

9. The asset accounting report trees of earlier SAP versions (up to SAP R/3 4.5) have since been replaced by:

a. Report branchesb. Line item viewerc. Cost center listsd. Area menuse. None of the above

10. The asset history sheet is an important and comprehensive report. By using report interfaces, a user can:

a. Drill down the asset history sheet to display asset valueb. Display the history sheet for the individual assets that form the totalc. Define your own asset history sheet versiond. Perform simulation of planned and unplanned depreciatione. All of the above

Answers:

1. A,B,D2. D

3. D4. D5. D6. A,B,D7. A,C,D8. B9. D10. A,B,C

List Viewer Review Questions

1. SAP List Viewer does NOT include which of the following generic cross-application functions:

A. SortB. FilterC. Totals and subtotalsD. None of the above

2. SAP List Viewer provides which of the following functions for displaying and changing documents:

A. Net Due DateB. select itemsC. select detailD. B & C onlyE. all of the above

3. Within selection criteria, there is the list output option. Which items can you configure for the list output option? (check all that apply)

A. Item statusB. VariantsC. LayoutsD. Maximum number of itemsE. Field status

4. When using List Viewer, when is the ALV grid control design particularly useful?

A. When you want to display individual accounts online for internet services offered by SAP programs

B. When you want to print the gridC. When you want to edit G/L master recordsD. All Of the Above

5. True/False: You cannot select items for the line item list based on their status and category.

6. True/False: Items posted to a branch account are automatically forwarded to the head office account?

7. In addition to selecting columns, when you create or change the layout, you can also define/create:

A. sort criteria for sortingB. reference criteria for sortingC. assignment criteria for sortingD. subtotalsE. all of the aboveF. none of the above

8. Which of the following are true concerning standard layouts?

A. Start with a slash (/)B. You can choose std. layout as your default layoutC. The initial variant is not used for list output unless otherwise specifiedD. A&BE. B&CF. A&C

Answers:

1. D2. D3. C,D4. A5. False6. True7. A,D8. D

New GL Review Questions – Day 1

1. What are some of ledgers that the new GL will make obsolete?

A. EC-PCAB. Cons PreparationC. Cost of SalesD. FI/CO Reconciliation LedgerE. None of the above

2. What table with FAGLFLEXT replace? Will “old line item table” be deactivated?

A. GLT0 Yes, eventually.B. GLT0 No, the table will not be deactivated.C. BSEG Yes, eventuallyD. BSEG No, the table will not be deactivated.

E. COSS Yes, eventually

3. When activating the New GL, is the effect at the client level or system level?

A. Client level, all co. codes or noneB. Company code level onlyC. Business area level onlyD. Controlling area level only

4. What is the default leading ledger delivered by SAP?

A. A1AB. 0LC. FAGLFLEXTD. GLT0E. All of the above

5. Will turning on New GL make standard Special Purpose Ledger obsolete?

A. Yes, no need for the standard special purpose ledger.B. No, will still need it for non-accounting reportingC. Maybe only if it is isn’t required anymoreD. No, it will still be needed for accounting-related functions.

6. Where are additional local currencies set?

A. At the group levelB. At the controlling area levelC. At the foreign currency levelD. At the company codeE. None of the above

7. What are some of the fields in the extended data structure in FAGLFLEXT?

A. Segment, profit center, cost center, cost elementB. Controlling area, segment, profit center, maintenance orderC. Segment, profit center, cost center, statistical key figureD. Controlling area, business area, profit center, segmentE. Controlling area, plant, sales organization, personnel area

8. Scenarios represent what old functionality in the standard SPL?

A. GLT0 table identifiersB. Document types and transaction typesC. Movement types and activitiesD. Report to report interfaceE. All of the above

9. What are the 6 delivered scenarios?

A. Cost centerB. Business areaC. SegmentD. Profit centerE. COGS (functional area)F. ConsolidationG. All of the aboveH. None of the above

10. What are the 2 new “views” in document display?

A. Entry viewB. Parked document viewC. Held document viewD. General ledger viewE. Simulation view

11. What is a splitting procedure?

A. Rules for assigning GL accounts to financial reportsB. Rules for combining report key figuresC. Rules for splitting paper that feed from our printerD. Rules for splitting documents in the New GLE. Rules for splitting your pants when you fall on the floor

12. What are the characteristics of the splitting procedure (select all that apply)?

A. Item categories – assign to all gl accounts; can not changeB. Business transactions – pre delivered by SAP; can add moreC. Business variant – set by SAP; can add moreD. Doc types – must assign bus transaction to doc typeE. None of the above

Answers:

1. A,B,C,D2. A3. A4. B5. B6. D7. A8. C9. G10. A,D11. D12. A,B,C,D

Parking/Holding Document Questions

1. The release approval path is determined by:

A. document typeB. workflow variant C. release groupD. all of the aboveE. none of the above 2. What determines whether the document release is supposed to be active?

A. workflow variantB. subworkflowC. worklistD. posting invoiceE. all of the above

3. Which of the following cannot be edited in a parked document?

A. DatesB. CurrencyC. Account AssignmentD. Company CodeE. All of the Above

4. What happens when a parked document is turned into a “proper” document?

A. A normal complete financial accounting document is createdB. Document numbers remain the sameC. History is documentedD. Parked document is deleted

5. Which transactions can you park from?

A. FB70 - Accounts Receivable InvoiceB. FV70 - Accounts Receivable Park/Edit InvoiceC. FB60 - Accounts Payable InvoiceD. FV60 - Accounts Payable Park/Edit InvoiceE. All of the Above

6. Parking documents allows users to do the following:

A. Edit dataB. Create dataC. Change dataD. Delete data/documentE. Post data/documentF. All of the aboveG. None of the above

7. What are the ways to save documents without performing "proper" Financial Accounting posting?

A. Holding documentsB. Suspending documentsC. Parking documentsD. Halting documentsE. All of the above 8. What are the features of holding a document?

A. No document number is assignedB. no update of the transaction figuresC. some documents can be included in evaluations/reportsD. all of the above.

9. Which of the following is not an element of business workflow:

A. Organizational structureB. Process structureC. Flow patternD. FunctionE. Information

10. A business workflow is triggered by:

A. Assigning a workflow accountB. Designating a responsible predecessorC. Updating the master data support proceduresD. Parking a documentE. Executing a work item command

Answers:

1. D2. A3. B,D4. B,D5. A,B,D6. A,C,D,E7. A,C8. A,B9. C10. D

Special GL Transactions Review Questions

1. Which of the following are examples of noted items:

A. Down payment requestsB. Guarantee paymentsC. Individual value adjustmentsD. Bill of exchange payment requestsE. All of the above

2. True/False: Noted items are two line item entries that require a zero balance check to be made.

3. A bill of exchange:

A. is a type of short term financing B. is not a special GL transaction in SAP C. is when one party directs another to pay a third party D. will not include interest charged to the originating company

4. True/False: The special G/L transaction class determines whether a transaction is a down payment, a bill of exchange, or other type of transaction.

5. Which of these, fall under the "other transactions" in regards to special GL transactions? (Select all that apply)

A. Guarantee of payment B. Bill of Exchange C. User Defined D. Credit Exchange E. individual value adjustments

6. An example of an individual value adjustment would be:

A. a document for guarantee of payment B. manually configuring data C. a disputed receivable D. an individual transaction type E. adjusting the value of a transaction

7. SAP registers a free offsetting entry of an incoming down payment in the:

A. Subledger account of the customer B. Alternative reconciliation account of the general ledger C. specified balance sheet account D. All of the above

8. When setting up a special G/L transaction with automatic offsetting entry, the user should store an alternative special G/L account for:

A. the selected G/L indicator B. a clearing account in the table for "accounts for automatic postings" C. both A and B D. none of the above

Answers:

1. A,D2. False

3. A,C

4. True

5. A,C,E

6. C

7. D

8. C

Substitutions/Validations Review Questions

1.) The following statements are true regarding rules for substitutions/validations

A.) A rule is a logical statement that you can use in a perquisite statement, a check, or another rule.

B.) A rule permits complex logic to be summarized; it cannot be reused.C.) You can use rules within a statement that uses mathematical processing.D.) All of the above.E.) None of the above.

2.) A set is:

A.) A flexible data structure for portraying a ranged amounts and hierarchies.B.) Used to improve system performance.C.) They are only used in one component of the FI-SL system.D.) All of the above.E.) None of the above.

3.) What are the parts of the Validation Step Method?

A) Prerequisite B) Post RequisiteC) CheckD) BalanceE) Message

4.) The following is not a meaning of a Validation message

A) WarningB) ErrorC) CriticalD) CancelE) Information

5.) When defining the substitution method in Financial Accounting you can choose between: Chose all that apply

A.) Constant valueB.) ExitC.) PrerequisiteD.) Field-field assignmentE.) All of the above

6.) Which of the following measures are required to execute validation/substitution?

A.) Decide for which area of application validation/substitution should applyB.) Validation/substitution must be defined

C.) The correct call-up point for the validation/substitution must be selected D.) Validation/Substitution must be assigned to an appropriate organizational structureE.) All of the above

7.) Substitution steps consist of which of the following parts (check all that apply):

A.) Prerequisite B.) G/L Account SplittingC.) VariantD.) ReplacementE.) All of the Above

8.) Substitutions in Financial Accounting consist of the following method(s):

A.) Constant ValueB.) User ExitC.) Matrix ValidationD.) Field-Field AssignmentE.) All of the Above

9.) The rule manager validates the data according to the validation rules? T/F

10.) Which of the following are application areas use validations and substitutions:

A.) FIB.) COC.) AMD.) GLE.) Project SystemF.) All of the aboveG.) None of the AboveH.) A & CI.) B & DJ.) A & BK.) A & DL.) D & C

11.) So, let’s say that you are trying to find some cheap tickets on Travelocity.com and you need to input the names of the airports where you are going to land. You are flying from Kansas City to Chicago O’Hare. Since you don’t know the airport codes, you simply put down the names of the city. When you click the process key to see the results, you notice on the corresponding page that the Travelocity has changed the airport cities to the appropriate airport codes (MCI & ORD). This would be an example of:

A.) SubstitutionB.) ValidationC.) ChangingD.) PopulatingE.) All of the above

Answers:

1.) The following statements are true regarding rules for substitutions/validations

F.) A rule is a logical statement that you can use in a perquisite statement, a check, or another rule.

G.) A rule permits complex logic to be summarized; it cannot be reused.H.) You can use rules within a statement that uses mathematical processing.I.) All of the above.J.) None of the above.

2.) A set is:

F.) A flexible data structure for portraying a ranged amounts and hierarchies.G.) Used to improve system performance.H.) They are only used in one component of the FI-SL system.I.) All of the above.J.) None of the above.

3.) What are the parts of the Validation Step Method? F) Prerequisite G) Post RequisiteH) CheckI) BalanceJ) Message

4.) The following is not a meaning of a Validation messageF) WarningG) ErrorH) CriticalI) CancelJ) Information

5.) When defining the substitution method in Financial Accounting you can choose between: Chose all that applyA. constant valueB. exitC. prerequisiteD. field-field assignmentE. all of the above

6.) Which of the following measures are required to execute validation/substitution?A. Decide for which area of application validation/substitution should applyB. Validation/substitution must be definedC. The correct call-up point for the validation/substitution must be selected

D. Validation/Substitution must be assigned to an appropriate organizational structureE. All of the above

7.) Substitution steps consist of which of the following parts (check all that apply):A. Prerequisite B. G/L Account SplittingC. VariantD. ReplacementE. All of the Above

8.) Substitutions in Financial Accounting consist of the following method(s):A. Constant Value

B. User ExitC. Matrix ValidationD. Field-Field AssignmentE. All of the Above

9.) The rule manager validates the data according to the validation rules? (T)

10.) Which of the following are application areas use validations and substitutions:a. FIb. COc. AMd. GLe. Project Systemf. All of the aboveg. None of the Aboveh. A & Ci. B & Dj. A & Bk. A & Dl. D & C

11.) So, let’s say that you are trying to find some cheap tickets on Travelocity.com and you need to input the names of the airports where you are going to land. You are flying from Kansas City to Chicago O’Hare. Since you don’t know the airport codes, you simply put down the names of the city. When you click the process key to see the results, you notice on the corresponding page that the Travelocity has changed the airport cities to the appropriate airport codes (MCI & ORD). This would be an example of:

m. Substitutionn. Validationo. Changingp. Populatingq. All of the above

AC210 Day 2 Answers

13. What characteristic determines “valuation” in asset accounting?Depreciation areas

14. What needs to be activated to enable reporting at the segment in asset accounting?

Activate account assignment switch for additional asset objects; APC and Depr

15. What program is now obsolete for posting back discounts to CO objects and assets?

SAPF181

16. What needs to be defined and assigned to enable real time CO/FI integration?

Variant

17. What are some of the settings in the CO/FI variant?Key date, tracing (don’t use), doc type, which organizational object; activate switch

18. What are the allocation methods that can now be performed in GL?assessments and distributions

19. What are components of the allocation methods (cycle, segment)?Sender/receiver relationship, tracing factors, amounts

20. In foreign currency revaluation, what has “moved” to the background? Valuation method

21. Has foreign currency revaluation become real time?No, must run valuation in background

22. Can more than one company code be attached to a non leading ledger?Yes

23. What are accounting principals? Place holders for legal requirements; (IAS, GAAP)

24. Foreign currency revals can be done only by accounts? T or FFalse, can be done by ledgers