ACADEMY: FINANCIAL ACCOUNTING FI PAPER What are the essentials of SAP s product strategy ( in just a few words)

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1 mysap Business Suite overview ACADEMY: FINANCIAL ACCOUNTING 1. What are the essentials of SAP s product strategy ( in just a few words) 2. MySAP business suite contains the following: (Choose the right answers) a. cross industry solutions b. industry solutions c. technology d. services 3. SAP business object consists of a. attributes b. methods c. attributes and methods d. none of the above 4. what is long form of BAPI 5. BAPI is assigned to one and only one business object 6. what are the new dimension products of SAP in cooperative business scenario 7. what are two major elements of mysap.com Navigation 1. You can only work in one window (session) at a time in an SAP system 2. which of the following statements accurately describe a client in an SAP system a. a client represents a completely independent business entity b. a client has its own database c. a client corresponds to a customer d. a client may represent an entire company 3. the following strings are valid entries in the command field: Choose the correct answers. a. /nend b. /nex c.?sm04 d. /nsm04 e. from SAP easy access: SM04 f. from SAP easy access: search_sap_menu 4. you can use the F1 key to a. display an explanation of a field s uses b. display a list of possible input values c. change your user data (e.g., the logon language) d. end the session you are in e. display detailed 1

2 5. you can use the F4 key to a. start another session b. display detailed technical information on a program c. call the SAP library d. display possible entries for an input field e. create a print request of the screen currently displayed 6. you can also call the context sensitive SAP library using the F1 key 7. the following personalization options are available in the SAP-GUI a. you can change the font size (within limits) b. you can have system messages displayed in a dialog box c. you can change the size of input fields d. you can suppress the display of pictures e. every user can display a picture of their choice on the SAP easy access screen f. you can use a personal input history on your front end 8. what is the maximum no. of parallel sessions that you can open 9. what is the name of the function you reach if you choose: tools admn monitor system monitoring user overview? What transaction code could you use to call this transaction instead of the menu 10. R/3 system contains a. database server only b. application server only c. presentation server only d. all of the above 11. all data and programs are contained in a. application server b. database server c. none of the above 12. maximum no. of sessions a user can open when he logs on to SAP a. one b. three c. five d. six 13. what are the three servers of R/3 system 14. to delete the current session, what command is used 15. where you can find transaction code for the function you are working in 16. which key is used for help on fields, menus, function, messages Overview of financial accounting 1. One chart of accounts 2

3 a. can be assigned to several company codes b. can be defined as a group chart of accounts c. only contains definitions of G/L accounts d. can only be assigned to one company code 2. which statements are correct: a. the field status tool bar controls the document type, the posting key and the account no. b. you can control the issue of document nos., via the account type c. the tax rate and tax indicator are pre-set by SAP for each country d. you can use the field status tool bar to control the characteristics of the document fields 3. the length of G/L account no. should be mentioned in a. G/L account groups b. G/L account c. Chart of accounts d. None of the above 4. Which of these statements on document principle are correct a. R/3 can assign the document nos. always b. A business event can trigger only one document within R/3 c. Each business event creates an account document in R/3 d. R/3 will link related documents in the system 5. All FI entries will be repeated in CO module also Basic settings 1. You can assign a business area to a company code directly 2. which of the predefined fiscal year variants are a. calendar year b. year specific 3. for what purposes are year specific fiscal year variants used 4. name the tools for maintaining the exchange rates 5. what keys are used to define currencies 6. name three commonly used exchange rate types and what they are used for 7. fiscal year can be a. year dependent b. year independent c. both year dependent and year independent 8. fiscal year which is a calendar year can have a. 12 normal periods b. less than 12 normal periods c. more than 12 normal periods 3

4 9. shortened fiscal year can have a. 12 periods b. more than 12 periods c. less than 12 periods d. should have less than 12 periods 10. company code can have a. one local currency only b. two local currencies c. any no. of local currencies d. none of the above 11. which of the following is true a. company can use indirect exchange rate only b. company can use direct exchange rate only c. company can use both indirect and direct exchange rates 12. which of the following is true in relation to SAP features a. business areas are company code specific b. business areas are assigned to company codes c. business areas are used for reporting across company codes d. none of the above 13. what is the highest level element of organizational units 14. what is the business unit where cost accounting is carried out in SAP 15. business areas are company dependent 16. how many characters does a company code have 17. one chart of accounts cannot be assigned to more than one company code 18. in case of non calendar fiscal year, annual displacement indicator is used 19.what are the two segments of a chart of accounts 20. which chart of accounts is used for consolidation 21. at what level is vendor account defined 22. more than one plant can be attached to a single company code 23. purchasing is done by what organization and for whom 4

5 24. what are the three steps for standard procedure for procurement transactions in FI 25. what is the central organizational structure in profitability analysis 26. one company code may contain several sales organizations 27. what document is created when receivables and revenues are posted in SD module 28. what is the main criteria for defining asset 29. what areas are used to keep more than one valuation basis for depreciation 30. more than one cash journal can have the same cash account 31. what is the element other than document header in an FI document 32. document no. range can be both internal and external 33. in which case same document number will be taken for a new financial year 34. group chart of accounts is used for consolidation 35. at what level a vendor account is defined 36. more than one plant can be attached to a single company code 37. several company codes can use the same posting period variant 38. you can close a financial year even if you have parked documents 39. G/L account/posting keys contain further specifications for account assignment in tax calculation procedure 40. what is a base amount 41. what does a tax code contain 42. reconciliation account type for vendor is K and for customer it is D 5

6 43. if an account is managed with open items, then line item display must be activated 44. in consolidation, to which are company codes and business areas attached Master records 1. A G/L account consists of which segments 2. Name possible field status definitions in the order of their priority 3. Different company codes can use the same 4. The controls the field display for the company code data in the G/L account master record 5. contain the total of the transaction figures for the corresponding sub ledger groups 6. Reconciliation accounts are updated on a daily basis. a) true b) false 7. You can always display the line items of a G/L account a) true b) false 8. G/L accounts with open item management must have line item display activated a) true b) false 9. G/L accounts that are managed in local currency can only be posted to in this currency a) true b) false 10. G/L accounts that are managed in foreign currency can only be posted to in this foreign currency a) true b) false 11. because company codes use different operational chart of accounts, you cannot carry out cross company code controlling a) true b) false 12. a complete customer account consists of the following parts: 13. a complete vendor account consists of the following parts: 14. the customer/vendor accounts must always be maintained centrally a) true b) false 15. one number range can only be assigned to one account group a) true b) false 16. no. assignment means that the R/# system assigns the number automatically 17. You maintain a customer/vendor master records if you create the FI segments at the same time as the SD/MM segments 6

7 18. G/L accounts have no. assignment; customer / vendor master records can have or no. assignment 19. the co. code data of a customer/vendor master record consists of areas, viz: (tab pages) 20. True / false a. a G/L account consists of a chart of accounts and one or more company code segments b. the accounts group controls the screen layout of the chart of accounts segment c. all G/L accounts must carry a tax indicator d. you can directly post to the reconciliation accounts e. the account currency is stored in the chart of accounts segment 21. which statements regarding the bank master records are correct a. the G/L account name of the house banks has to concur to the name in the bank key directory b. the name for the G/L account at the house bank is freely definable c. the G/L account name of the house bank can contain the name of the bank and the account no. d. the G/L account name of the house bank is defined in chart of accounts e. the G/L account names of the house bank can be defined to company code that differ from the chart of account 22. the G/L account becomes complete if we a. add company code segment to chart of accounts segment b. create both company code segment and chart of segment c. create chart of account d. copy chart of account segment from other company code 23. if we are using same chart of account in more than one company code a. company code segments are same in all company codes b. account name and account number is the same in all company codes c. currency in company code segment in all company codes are same d. the group account number is different in all company codes 24. the appearance of the company code segment of a G/L account is based on a. account group entered in the chart of account segment b. group account number entered in chart of accounts segment c. assignment of group chart of accounts in chart of accounts d. none of the above 25. the appearance of an account master data is based on a. account number b. field status c. chart of accounts d. none of the above 26. creation of duplicate accounts in AP is prevented by using a. match code before creating the new account b. sensitive dual control 7

8 c. switching on automatic duplication check d. none of the above 27. retained earnings account is a. specific to company code b. specific to client c. specific to chart of accounts d. none of the above 28. which of the following is true a. company code can have one retained earnings account only b. company code can have more than one retained earnings account c. chart of accounts can have more than one retained earnings account d. chart of accounts can have on retained earnings only e. none of the above 29. which of the following is true a. account group controls the document field status b. account group controls the number range c. account group controls the master record field status d. all of the above 30. which of the following statements are correct a. the G/L account name for house banks must match the names given to the house bank in the bank directory b. the G/L account name for house banks are user definable c. the G/L account names for house bank could be the bank name and account no. d. the G/L account names for house banks are defined in the bank directory e. at company code level, G/L account names for house banks can be different from those in chart of accounts 31. G/L master created is always for all company codes in R/3 a) true b) false 32. Currency is a required field entry while creating G/L master a) true b) false 33. We cannot control the postings in the G/L by way of tax code entry for a G/L account a) true b) false 34. Tax codes are created and operated at country level a) true b) false 35. Tax codes are created at company code level a) true b) level 36. Tax codes are time dependent a) true b) false 37. Jurisdiction codes are not used at all while creating tax codes a) true b) false 38. In AP & AR, account group cannot be created with external number range a) true b) false 39. Reconciliation account definitions are available in general data and vendor master a) true b) false 40. chart of accounts view of G/L account keeps the data like general data a) true b) false 8

9 41. fiscal year variant can be of two types. Name them 42. in case of G/L accounts, number ranges are attached to G/L accounts. a) true b) false 43, account groups are used to control following properties a. field status of transaction field b. field status of master fields c. field status of master fields and number range d. field status of master fields, number range and whether accounts are P&L / B/S 44. you can post transactions to an account in any currency only if a. account currency is not maintained b. account currency is same as local currency of company code c. account currency is different from company code currency d. under all circumstances 45. planning levels in G/L accounts are used for a. generating G/L planning b. planning memo entries in treasury c. classifying transactions pertaining to cash flow d. classifying G/L accounts as per B/S format 46. you can carry forward P&L account balances to a. multiple retained earnings accounts automatically b. single retained earnings accounts automatically c. multiple retained earnings accounts through period end closing d. single retained earnings account through period end closing 47. default exchange rate picked up during FI document entry is a. exchange rate maintained for type B b. exchange rate maintained for type M c. exchange rate maintained for type G d. there is no default exchange rate type 48. you can clear open items only when they have same a. business area, amount, opposite dr/cr indicator and same entry in fields that are configured for auto clearing b. amount, opposite dr/cr indicator c. business area, opposite dr/cr indicator d. amount, opposite dr/cr indicator and same entry 49. foreign currency valuations on G/L accounts are performed on following accounts a. all accounts b. all accounts managed on open item basis c. all accounts managed on open item basis and all accounts with currency different from local currency 9

10 d. accounts managed on open item basis having foreign currency transactions and all accounts with account currency different from local currency 50. you can display account balance of several related accounts through a. account groups b. sort key c. worklists d. totals variant 51. you run BA/PC adjustments for a. balancing BA level B/S for inter BA transactions b. balancing company code level B/S for inter company transactions c. posting adjustment entries for changed reconciliation accounts d. posting vendor/customer reclassification at BA level 52. fast entry screens in FI are used to enter a. customer/vendor line items b. G/L line items c. C/V, G/L line items d. Invoice receipt against GR 53. easily entered document entry templates are called a. sample documents b. account assignment models c. work lists d. recurring documents 54. Posting keys are used to decide a. dr/cr indicator, field status of transaction screen, account types b. dr/cr indicator, account types c. dr/cr indicator, account types, field status of transaction screen, special G/L applicability d. dr/cr indicatgor, field status of transaction screen, special G/L applicability 55. how many parallel currencies are possible and at what level they are assigned a. 2 local currencies, coa b. 3 local currencies, coa c. 2 local currencies, company code d. 3 local currencies, company code 56. when you reverse a posted document, document number must be a. internal b. external c. internal/external d. manually assigned 57. financial statements can be generated in a. local currency b. document currency c. chart of account currency d. any currency for which customization is done 10

11 Document control 1.what are the most important control functions of the document type 2. if the user assigns the document number manually, this is no. assignment 3. nos. may be alphanumeric 4. every company code may define its own document types a) true b) false 5. every company code may define its own document no. range a) true b) false 6. at the beginning of a new fiscal year, the system always starts the document no. assignment again at the start of the no. range a) true b) false 7. document no. ranges must not overlap a) true b) false 8. how many no. ranges can be assigned to a document type simultaneously 9. what are the most important control functions of a posting key 10. name two elements that influence the field status of document fields 11. from following, state how the text field will be treated on document entry screen a) if text is hidden per posting key, text optional as per field status group, then will be in document entry screen b) if text is optional as per posting key, text is required as per field status group, then it will be a in document entry screen c) if text is required as per posting key, text is hidden as per field status group, then it will be an in document entry screen 12. what are the standard posting keys for G/L account postings and on which side of the account do they post to 13. posting keys are defined at client level a) true b) false 14. the group controls the field display during document entry 15. each has a field status group 16. the posting period variant is assigned to the. 17. a posting period variant must contain at least one line with the entry 18. the account range in the posting period variant consists of 19. posting periods are opened and closed automatically a) true b) false 20. no more than two periods can be open at the same time a) true b) false 21. the authorization group in the posting period variant applies only to authorization for posting in special periods a) true b) false 11

12 22. which of the following statements are true, when you are considering major controls of document types a. the account types allowed for postings b. the field status of header text and reference no. c. posting keys d. none of the above 23. which of the following statements are true a. posting keys are defined at client level b. account types allow line item postings based on posting key c. field status definition suppressed and required can not be combined d. field status groups are variant principle 24. which of the following are true if we are using the same posting period variant for several company codes a. opening and closing of periods to e done for each company code b. we cannot use same posting period variant for several company codes c. we can maintain different special periods for each company code 25. which of the following statements are true a. we can open two period ranges during the time of closing process b. based on the document date entry, system will determine the posting period and fiscal year c. if you display the balances of an account, the transaction figures for the posting periods are displayed 26. when ever an FI entry is made, we want document header text is required to be made mandatory. Customizing is available in account master and field status groups a) true b) false 27. it is not possible to see document currency and company code currency at the same time during document display option a) true b) false 28. document posting date, value date, base line date, system date, and due date in the entry screen of customer/vendor invoice are same a) true b) false 29. it is possible to define standard translation method of foreign currency in the posting key a) true b) false 30. system allows you to enter the date interval from and to in case of foreign currency translation rate a) true b) false 31. one no. range can be assigned to several document types a) true b) false 32. and are two elements of FI document 33. document no. range can internal and 34. in case of no. range, same document no. will be taken for a new fiscal year 35. one no. range can be assigned to several document types a) true b) false 36. one document type can have more than one no. range a) true b) false 12

13 37. a field status within an FI document is controlled by three factors, viz., 38. while posting a parked document, document no. is changed a) true b) false Posting control 1. List some sources of values that are defaulted by the system for document entry 2. Name two possible ways to reverse a document 3. What are the two prerequisites that should be fulfilled in order to process the negative postings 4. Credit memos can be linked to invoices to ensure that invoice and credit memos are due on the same date a) true b) false 5. The day limits define the dates of cash discount periods a) true b) false 6. Every installment of an installment plan must have its own terms of payment a) true b) false 7. terms of payment is a field in the and of the customer master record 8. the is the date that the system uses to determine the due date of the invoice 9. which cash discount accounts are used in the net procedure? 10. which cash discount accounts are used in the gross procedure? 11. name the two types of taxation that can be represented in the system 12. what data is required for the automatic account determination for tax amounts? 13. list two examples for cross company code transactions 14. a cross company code transaction consists of at least two documents a) true b) false 15. tax amounts of across company code transaction are automatically distributed to the company codes in which the expenses or revenues occurred a) true b) false 16. cross company code clearing accounts must be G/L accounts 17. the company code of a cross company code transaction may have different local currencies 18. describe the components the system uses to create cross company code transaction no. 13

14 19. by mentioning base line date, cash discount periods and cash discount percentage rate in payment terms system will calculate a. due date of invoice and cash discount b. due date only c. cash discount only d. none of the above 20.postings in a company code are done in G/L account of a. consolidation coa b. operative coa c. country coa d. all of the above 21. posting in a G/L account is controlled by a. account group of the G/L account b. field status group in the coa segment c. field status group in the company code segment d. all of the above 22. payment terms are company code dependent a) true b) false 23. it is not possible to calculate the due date on fixed dates like end of month with days calculation a) true b) false 24. posting key is linked to field status in FI posting a) true b) false 25. negative posting is one method of document reversal a) true b) false Clearing 1. name 2 basic transactions that you can use to clear open items 2. documents with open items cannot be archived because open items represent incomplete transactions a) true b) false 3. a clearing document must have at least two line items a) true b) false 4. posting with clearing can be carried out for several accounts simultaneously a) true b) false 5. the posting keys to be used in the clearing document are defined in clearing transactions a) true b) false 6. the automatic clearing program cannot carry out automatic postings a) true b) false 7. clearing a credit memo with an open invoice is an example of 8. posting a payment for an open invoice with a resulting zero balance is an example of 9. a residual item clears the invoice and the payment to create a new open item 10. a results in the open invoice and the incoming payment remaining in the customer account as open items 14

15 11. the R/3 system generates the exchange rate differences automatically a) true b) false 12. G/L accounts must be defined for exchange rate losses or gains a) true b) false 13. list the no. of ways the G/L account can be determined for exchange rate differences 14. in processing open items (customer), you can a. activate or deactivate open items b. reverse the open items c. activate or deactivate the cash discount d. enter partial payments or residual items 15. using account clearing function, choose a match those existing open items from an account that balance to zero. The system marks them as cleared and creates a clearing document. The clearing document no. and the clearing date is entered in the cleared open items. The clearing date can be the current date or a date that the user determines. State whether this statement is a) true b) false 16. the specification for permitted payment differences can be found in both types of tolerance groups. They control the automatic posting of cash discount adjustments and unauthorized deduction a) true b) false 17. all reconciliation accounts and all G/L accounts with open item transactions in foreign currency must be assigned to the revenue/expense accounts for realized losses and gains a) true b) false 18. clearing does not create any document in SAP a) true b) false 19. it is user defined where SAP will control open item selection a) true b) false Special G/L transactions 1.all special G/L transactions are posted to G/L accounts a) true b) false 2. payment cannot be made by adjusting a special G/L transaction which is posted in G/L a) true b) false 3. down payment creates another entry without any links to the original entry a) true b) false 4. residual payment creates another entry keeping all entries open a) true b) false 5. it is not possible to create a due date for a down payment a) true b) false 6. SAP does not allow bill of exchange accounting a) true b) false 7. payment request clears the entries in AP/AR a) true b) false Automatic payments 15

16 1.List the five steps in the payment program 2. name the six areas into which the payment program configuration is divided 3. the specify the accounts and documents that are to be included in the payment run 4. the payment program needs the to determine whether an open item has to be paid now or in the next payment run 5. the sequence in which the payment methods are entered in the reflects their priority 6. all the company codes in the payment run parameters must be in the same country a) true b)false 7. a payment method can be used only if it is entered in the account master record a)true b)false 8. the payment proposal can be edited, deleted and recreated as often as necessary a)true b)false 9. the exception list is part of the payment proposal a) true b) false 10. in the payment process, automatic option to the users are a. select open invoices to be paid or collected/post payment document b. post payment documents/print print media c. select open invoices to be paid/collected d. post payment document e. print print media 11. which of the following are true a. any payment block can be removed in payment proposal edit b. only line item payment block can be removed during payment proposal c. items that cannot be paid are detailed in the exception list 12. which of these statements on payment program are correct a. there are four steps in payment process i.e., parameters, proposal, program, print b. once the parameters have been specified, the print program is scheduled to generate print media 13. every run of the payment program is identified by two fields a. run date b. identification 14. Which of the following statements are true a. the run date is recommended to be the actual date when the program is executed b. the field identification is used to run print program 15. which of the following statements are true (ref: print program-all codes area) a. sending company code and paying company code are same always b. by specifying vendor/customer/special G/L transaction to be paid, we can process special G/L transaction only 16

17 c. by activating payment method supplement, we can print and sort payments 16. which of the following statements are true? (ref: payment program-bank determination area) a. without ranking order, system will not process the payment b. bank/payment method combination is must to define ranking order c. without maintaining the value date in bank selection, system will not process the payment 17. if we are using check management, which of the statements is true a. define check lot in order to print checks b. check lots are used only for automatic payments 18. all company codes in payment run parameters must be in same country a) true b) false 19. a payment method can only be used if it is entered in the account master record a) true b) false 20.the payment proposal can be edited, deleted and recreated as often as desired a)true b)false 21. exception list is a part of payment proposal a) true b) false 22. SAP cannot automate the payment method entry into the vendor invoice screen a)true b)false 23. partial payment creates another entry without any link to the original entry a)true b) false 24. it is not possible to use two check series for making payment a) true b) false 25. it is not possible to void unused checks a) true b) false 26. reversal of void check is a standard functionality in SAP a) true b) false 27. it is not possible to show the check with a value range by a user a) true b) false 28. payment to anybody by passing a G/L entry without AP/AR is a standard functionality of SAP a) true b) false 29. we cannot create manual checks for payment to business partners and update in the system a) true b) false 30. bank statement entry into SAP does the auto clearing a) true b) false 31. through bank statement entry, we can make entries like bank debits for bank charges, commission, etc. which will make a direct posting into G/L a) true b) false 32. payment to vendor of a specific bill cannot be blocked in SAP a) true b) false 17

18 33. customer makes multiple check payments for one invoice and hands it over to the company which is running with all modules of SAP. It is not possible to enter in SAP by keeping all the check details and updating against an invoice a) true b) false 34. is the date from which the due date is derived 35. if customer invoice is created in SD, then payment terms from segment will be defaulted Automatic dunning 1.list the four steps that have to be taken by the dunning program to perform the automatic dunning procedure 2. customers without dunning procedure in the master record are dunned with a default dunning procedure a)true b) false 3. if dunning areas are not used, dunning is performed at the company code level a)true b)false 4. it is possible to dun vendors as well as customers a)true b)false 5. the run date is always the date when a certain dunning run is supposed to be started a) true b) false 6. the parameters specify the accounts and documents that are to be considered in the dunning run a) true b) false 7. list some reasons why overdue items might not be dunned 8. the dunning proposal consists of several steps. List the main steps involved in creating the dunning proposal 9. the payment terms of a credit memo usually do not apply and the due date is either the due date of the associated invoice or the baseline date of the document a) true b) false 10. every dunning procedure must have at least four dunning levels a) true b) false 11. an account is only dunned if all the over due items have exceeded the minimum days in arrears a) true b) false 12. the dunning run updates the dunning data in the dunned items and accounts a) true b)false 13. a dunning notice is only sent if the dunning data has changed since the last dunning run, or if always dun? is selected a) true b) false 14. after the dunning proposal has been created, changes to the dunning data in items or master records are ignored in the current dunning run a) true b) false 15. the dunning proposal can be edited, deleted, and recreated as often as required a) true b)false 16. one dunning form can be used for all dunning levels and dunning areas a) true b) false 18

19 17. the dunning text for dunning level 6 is stored in text module 616 a) true b) false 18. the last dunning level is equal to the legal dunning procedure a) true b) false 19. what is changed by the dunning run? a. the date last dunning run in the customer master record b. the dunning level in the customer master record c. the dunning level in the dunned document d. the form specification in the customer master record for the next dunning letter e. the dunning procedure for the next dunning run in the customer master record 20.when running the dunning program a. we can edit proposal b. we cannot delete proposal c. we can recreate the proposal until the dunning clerk is satisfied with result d. after completing the dunning proposal list, dunning data is updated in master records 21.which is true a. one time accounts cannot be dunned b. we can assign two dunning procedures to customer master records c. dunning procedure can process only standard transaction d. interest can be posted at the time of dunning 22.the maximum dunning level can be defined in the dunning procedure is a. four b. six c. nine 23. an item whose days in arrears are smaller or identical to the grace period, dunning program will consider the item for dunning a) true b) false 24. which of the following statements are false a. we cannot specify per dunning level that interest is to be calculated b. we cannot print a dunning notice in a legal dunning procedure, although no further account movements have occurred c. we can set a minimum amount for the dunning charges on each dunning level 25. what information does a dunning run change a. date of last dunning run in the customer master record b. the dunning level in the customer master record c. the dunning level in document for which dunning notices are created d. from (layout set) specifications in the customer master record for the text in the next dunning letter e. the dunning procedure in the customer master record for the next dunning run Correspondence 1.it is possible to get the report of customers created by user in a company code a)true b)false Interest calculation 19

20 1.account master data must contain an interest calculation indicator for interest calculation to take place a)true b) false 2. on a give account, R/3 cannot calculate different interest rates based on the amounts of balance or items a) true b) false 3. you can configure R/3 to calculate interest for customers or vendors that owe you money. You cannot calculate interest, however, if you owe your business partner money a) true b) false 4. name the two types of interest calculation in SAP R/3 5. what information do you need to create a new interest calculation indicator 6. which of these statements is true a. we can calculate interest on G/L accounts under interest on arrears method b. each interest id must be assigned to interest calculation type Country specifics 1.name the three documents used in the payment process 2. what methods can you use to create checks? Name two ways of creating a check. Can you name the check printing program? 3. you can void a check without reversing the payment document a) true b) false 4. you can void a check and reverse the payment document at the same time a)true b)false 5. you can void a check and reverse the payment document and the vendor invoice all at the same time a) true b) false 6. what is a lock box 7. what are payment advice notes used for in the lock box process in R/3 8. list the four statuses that a check can have 9. you have to maintain customer bank details manually in the master record to ensure that as many incoming payments are assigned as possible The financial statements 1.Two steps to define financial statement versions are a. enter it in the directory of financial statement version b. define hierarchy levels and assign accounts 2. a financial statement version consists of maximum nine hierarchy levels a) true b) false 3. we cannot assign account group according to balance a) true b) false 4. drill down report is a tool that enables to analyze sub ledger transaction figures only a) true b) false 20

21 5. individual value adjustment for doubtful receivables are possible through a. special G/L transactions b. normal transactions c. both of the above 6. to set up the financial statement version in your company, maximum limit is 9 a) true b) false 7. it is a real problem in SAP in financial statement version we are not able to find the G/L accounts which are not assigned a) true b) false 8. MIS reports based on financial books like ratios can be done through financial statement version a) true b) false 21

22 Receivables and Payables 1.the view maintained for vendor master data are a. general data, company code data b. general data, company code data, purchasing data c. general data, company code data, business area data d. general data, company code data, business area data, plant data 2. group key assigned to vendor master records control the following a. it is a combination of up to three fields based on which open invoices are selected for automatic payment b. basis for grouping several vendors for balance display c. basis for classifying vendors for standard reporting d. it is a combination of up to three fields on which open invoices are selected for manual payment 3. posting through a special ledger indicator affects a. the main reconciliation account of vendor/customer b. alternative reconciliation account mapped to the main reconciliation of vendor/customer c. alternative reconciliation account and main reconciliation account of vendor/customer d. offsetting entry to main reconciliation account of vendor/customer 4. check management with respect to outgoing payments is possible for open items for a. vendors b. vendors and customers c. vendors, customers and G/L accounts d. vendors and G/L accounts 5. if you do not want to enter a document with provision for updating ledger on approval from authorized officials, you can use following functionality a. parked document b. sample document c. account assignment model d. recurring document 6. accounting for down payment request involves a. statistical items b. parked items c. noted items d. regular items 7. business area is determined for accounting documents generated automatically from logistics module based on a. plant-division combination b. plant-division-distribution channel combination c. plant-sales area combination d. plant-division combination and sales area 8. when you carry out regrouping through AR/AP, following activities are performed a. reclassify where debtors have credit balance and vice versa b. reclassify open items by remaining life c. reclassify by changed reconciliation accounts d. all of the above 22

23 9. when you carry out automatic payment, bank through which payment is effected is based on a. ranking order of house banks b. house banks maintained for specific business area c. house banks entered in the parameters of the run d. ranking order and available balance in the accounts 10. payment needs to be made against invoice with payment blocks created during invoice verification. Payment block can be removed by a. release block in MM b. changing field entry from invoice document c. by reallocating in payment proposal d. cannot be removed 11. in SAP, a bill of exchange receivable item is cleared during a. discounting the bill b. transfer posting with clearing c. reversal of contingent liability d. clearing of outstanding advance from the customer 12. in which of the following processes do the original invoices remain as open items a. residual payment b. partial payment c. charge off difference d. distribute difference 13. what are the different account types in SAP a. customer, vendor, G/L b. customer, vendor, G/L, asset, material c. customer, vendor d. customer, vendor, asset 14. when several organizational units carry out dunning within a single company code, SAP entity used to distinguish and control the process is called a. dunning procedure b. dunking key c. dunning clerk d. dunning area 15. if you do not want to dun beyond a particular level a. use dunning key to limit the maximum level b. use dunning block on vendor master c. use dunning clerk to block dunning d. use dunning block on the dunning procedure 16. if you want to choose a different set of fields in a vendor account line item display, you choose a different a. sort variant b. totals variant c. line layout d. additional field 23

24 Profit and loss 1.Foreign currency valuation is possible a. only on vendor/customer open items b. only on balance sheet items (G/L accounts) c. both of the above 2. when we are valuating open items, without update for reversal of the adjustmentposting after key date, user can define another posting date in place of key date + 1 a) true b) false 3. when we have regrouped the receivables/vendors, system carries out adjustment postings a) true b) false 4. allocating costs to FI through external settlement the G/L is updated on line / real time a) true b) false 5. depreciation posting can be executed a. through batch input session b. direct FI postings c. any one of the above 6. physical inventory is an MM/PP module transaction and hence no accounting entry is passed in G/L but real stock is adjusted in MM/PP a) true b) false 24

25 KEY mysap Business Suite overview 1. extend rather than replace 2. a,b,c,d 3. c 4. business application programming interface 5. false 6. BW, CRM, APO, B2B, SCM, KW 7. market place, work place Navigation 1. false 2. a,d 3. a,b,d,e,f 4. a,e 5. d 6. true 7. a,b,d,f 8. between 2 and 6 sessions 9. the function is called user list; code is sm d 11. a,b 12. d 13. presentation server; application server; database server 14. /n 15. system_menu 16. F1 Overview of financial accounting 1. a,b,c 2. d 3. c 4. a,d 5. false Basic settings 1. false 2. calendar year: 01, K1, K2, K3, K4; year specific: AA,AM,RI,UL,WK 3. I) if start and end date of posting periods differ from year to year; ii) if one fiscal year has fewer posting periods than the other (shortened fiscal year) 4. inversion, base currency, exchange rate spreads 5. currency keys 6. M-average rate for posting and clearing; G-buying rate; B-selling rate 7. a,b 8. a,b 9. c 10. a 11. a,b,c 12. c 13. client 14. controlling area 15. false 25

26 16. four character 17. false 18. true 19. company code, coa 20. group 21. client 22. true 23. purchasing, plant 24. a. PO; b. GR; invoice verification 25. operating concern 26. true 27. billing 28. asset class 29. depreciation 30. true 31. document line items 32. external 33. year dependent 34. true 35. client 36. true 37. true 38. false 39. true 40. expense, revenue 41. tax rate 42. K,D 43. true 44. company, consolidated business area Master records 1. coa segment, company code segment 2. hide, display, required entry, optional entry 3. chart of accounts 4. account group 5. reconciliation accounts 6. false 7. false 8. true 9. false 10. true 11. true 12. general data, co.code segment, sales area segment 13. general data, co.code segment, purchasing organization segment 14. false 15. false 16. internal 17. centrally 18. external; internal/external 19. four (accounting information, payment transactions, correspondence and insurance (customer account) or withholding tax (vendor account) 20. a 21. b,c,d 22. a,b 23. b 26

27 24. a 25. b 26. a,c,d 27. c 28. b,c 29. b,c 30. b,c 31. true 32. true 33. false 34. true 35. false 36. true 37. false 38. false 39. false 40. true 41. year dependent; year independent 42. true 43. c 44. b 45. c 46. c 47. b 48. a 49. d 50. c 51. a 52. b 53. b 54. c 55. d 56. a 57. d Document control 1. no. ranges for document nos.; account types permitted for postings 2. external 3. external 4. false 5. true 6. false 7. true 8. you specify a no. range for each document type. One no. range can be used for several document types 9. determination of which account type can be posted to; side of the account (dr/cr); the field status of additional details 10. field status group, posting key 11. hidden; required entry; error 12. debit, posting key 40; credit, posting key true 14. field status 15. G/L account 16. company code 17. valid for all accounts 27

28 18. G/L accounts 19. false 20. false 21. false 22. a,b 23. a,b,c,d 24. all false 25. a, c 26. false 27. false 28. false 29. false 30. false 31. true 32. document header, line items 33. external 34. year dependent 35. true 36. false false Posting control 1. user master records; parameter memory; system data; account master record; accounting functions 2. normal reversal posting; reversal by negative posting 3. the company code must allow negative postings; the reversal reason must be defined for negative posting 4. true 5. false 6. true 7. company code, sales area 8. base line date cash discount clearing account; cash discount loss account 11. cash discount revenue account; cash discount expense account 12. taxation at national level; taxation at regional/jurisdictional level 13. rules, posting key, tax accounts 14. central purchasing; central payment 15. true 16. false 17. false 18. true 19. the cross company code transaction no. is a combination of document no. in 1 st company code, first company code no., and the fiscal year 20. a 21. b 22. false 23. false 24. true 25. true Clearing 1. account clearing; post with clearing 2. true 28

29 3. false 4. true 5. true 6. false 7. account clearing 8. posting with clearing 9. residual item 10. partial payment 11. true 12. true 13. a single G/L account can be used for all currencies and currency types; a single G/L account can be used per currency and currency type; a single G/L account can be used per currency; a single G/L account can be used per currency type 14. a,c,d 15. true 16. true 17. true 18. false 19. true Special G/L transactions 1. true 2. false 3. true 4. false 5. false 6. false 7. false Automatic payments 1. maintain parameters; proposal run; editing proposal; payment run; printing payment media 2. all company codes, paying company codes; payment method/country; payment method/company code; bank selection; house banks 3. parameters 4. next posting date 6. payment parameters 7. false 8. true 9. true 10. a,b,c 11. a,b,c 12. a 13. a,b 14. a 15. b,c 16. b 17. a 18. true 19. false 20. true 21. true 22. false 23. true 29

30 24. false 25. false 26. true 27. false 28. false 29. true 30. true 31. true 32. false 33. false 34. base line date 35. sales area ACADEMY: FINANCIAL ACCOUNTING Automatic dunning 1. maintain parameters; proposal run; editing the dunning proposal; printing dunning notices 2. false 3. true 4. true 5. false 6. true 7. account not contained in parameters; items are within grace period; items/accounts blocked for dunning; overdue amount < min amount; items can be cleared with overdue items on credit side;. 8. account selection; line item dunning; account dunning 9. true 10. false 11. false 12. false 13. true 14. true 15. true 16. true 17. true 18. false 19. a,b,c 20. a,c 21. a,b 22. c 23. false 24. a,c 25. a,b,c Correspondence 1. true Interest calculation 2. true 3. false 4. true 5. account balance interest calculation; item interest calculation (interest on arrears) 6. a 2-character interest indicator and an interest calculation type. A name for the interest calculation indicator is useful but not mandatory 30

31 7. b Country specifics 1. vendor invoice; payment document; checks 2. manual check; auto payment program-rffous_c or RFFOD_S 3. true 4. true 5. false 6. service provided by banks to speed up collection and processing of incoming payments 7. they contain detailed information about an incoming payment. Lock box program uses the information to clear open items on the customer account 8. assigned; partially assigned; on account; not processed 9. false The financial statements 1. a,b 2. false 3. true 4. false 5. a 6. false 7. false 8. false Receivables and Payables 1. b 2. a 3. b 4. b 5. a 6. c 7. d 8. a,b,c,d 9. d 10. a 11. c 12. b 13. b 14. d 15. a 16. c Profit and loss 1. a,b,c 2. true 3. true 4. true 5. a,b,c 6. false 31