ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING

FI PAPER: 9

TRUE/FALSE1. G/L master record is always for all company codes in the system2. currency is a required field entry while creating G/L master3. we cannot control the postings to the G/L by way of tax codes entry for a G/L

account4. tax codes are created and operated at country level5. tax codes are created at company code level6. tax codes are time dependant7. jurisdiction codes are not used at all while creating tax codes8. in AP and AR, account group cannot be created with external number ange9. reconciliation account definitions are available in general data of vendor

master10. reconciliation account definitions are available in payment data of general

data in customer master11. payment terms are company code dependent12. it is not possible to calculate the due date on fixed dates like end of month

with days calculation13. SAP cannot automate the payment method entry into the vendor invoice entry

screen14. all special G/L transactions are posted to G/L accounts15. it is possible to get the report of customers created by a user in a company

code16. clearing does not create any document 17. payment cannot be made by adjusting a special G/L transaction which is

posted in G/L18. partial payment creates another entry without any link to the original entry19. down payment creates another entry without any link to the original entry20. residual payment creates another entry keeping all entries open21. it is not possible to use two check series for making payment22. it is not possible to void unused checks23. reversal of voided checks is a standard functionality of SAP24. it is not possible to show the checks with a value range and issued by a user25. it is not possible to create a due date for a down payment26. SAP does not allow bill of exchange accounting27. payment request clears the entries in AP and AR28. posting key is linked to field status in FI posting29. payment to anybody by passing a G/L entry without AP/AR is a standard

functionality of SAP30. we cannot create manual checks for payment to business partners and update

in the system31. bank statement entry into the SAP does the automatic clearing32. through bank statement entry, we can enter the entries like bank debits for

bank charges, commission, etc. which will make a direct posting into the G/L33. chart of accounts view of G/L account keeps the data like general data in

customer account – common data34. whenever an FI entry is made, we want document header text to be a

mandatory entry. Customizing is available in G/L master and field status groups

35. it is not possible to see document currency and company code currency at the same time during document display option

36. document date, posting date, value date, base line date, system date and due date in the entry screen of customer/vendor invoice are the same

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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING

FI PAPER: 9

37. it is possible to define the standard translation method of foreign currency in the posting key

38. system allows you to enter the date interval – from and to- in case of foreign currency translation rates

39. it is user definition whether SAP will control the open item selection40. it is a real problem in SAP-in financial statement version we are not able to

find the G/L accounts which are not assigned41. MIS reports based on financial books like ratios can be done through financial

statement version42. all FI entries will be repeated in CO module also43. physical inventory is a MM/PP module transaction and hence no accounting

entry is passed in G/L but real stock is adjusted in MM/PP44. payment to vendor of a specific bill cannot be blocked in SAP45. customer makes multiple checks for one invoice, and hands it over to the

company which is running with SAP with all modules. It is not possible to enter in SAP by keeping all the check details and updating against one invoice

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ACADEMY: MANAGERIAL AND FINANCIAL ACCOUNTING

FI PAPER: 9

KEY

1. F2. T3. F4. T5. F6. T7. F8. F9. F10. F11. F12. F13. F14. T15. T16. F17. F18. T19. T20. F21. F22. F23. T24. F25. F26. F27. F28. T29. F30. F31. T32. T33. F34. F35. F36. F37. F38. F39. T40. F41. F42. F43. F44. F45. F

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