ACADEMY: FINANCIAL ACCOUNTINGFI PAPER – 13

1. The vendor master contains data at a. general, company code and purchasing organization levelsb. general level onlyc. company code onlyd. general and purchasing organization levels only

2. posting using the special G/L indicator updatesa. sub ledger onlyb. sub ledger and the general ledger accountsc. general ledger account onlyd. none of the above

3. the automatic payment program can be run fora. vendor accounts only customer accounts onlyb. vendor and customer accountsc. all of the above

4. the document datea. must be in the same period as the posting dateb. must be in a period higher than the posting datec. must be in a period lesser than the posting dated. can be in any period independent of the posting date

5. vendor invoices can be entered ina. FI module onlyb. MM module onlyc. FI & MM modulesd. FI, MM and SD modules

6. When the automatic clearing program is executed, the base documents area. cleared and deleted from the systemb. cleared, deleted and archived from the systemc. cleared in the systemd. none of the above

7. where can the vendor master be createda. centrallyb. in the MM module onlyc. in the FI module onlyd. all of the above

8. which of the following posting keys is relevant for accounting bills of exchange of a vendor

a. 11b. 21c. 39d. 19

9. which of the following are valid additional account assignmentsa. projectb. allocationc. payment termd. none of the above

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ACADEMY: FINANCIAL ACCOUNTINGFI PAPER – 13

10. a residual item posting in the vendor’s accounta. generates a new line itemb. reduces the value in the original invoice line itemc. reverses the original line itemd. generates a parking document

11. what is the maximum permissible length of an internally generated vendor number

a. 6b. 10c. 12d. 18

12. house bank ids can bea. alphabets onlyb. numeric onlyc. alpha numericd. any of the above

13. posting to an expense account needsa. cost object assignmentb. a cost and revenue object assignmentc. revenue object assignmentd. none of the above

14. the customer master contains data ata. general, company code and sales organization levelsb. general level onlyc. company code onlyd. general and sales organization levels only

15. in the standard system the posting key 25 refers toa. credit to customer accountb. debit to customer accountc. debit to vendor account d. credit to vendor account

16. the dunning program can be configured fora. sending reminder letters onlyb. sending reminder letters and creating debt provisionsc. creating debt provisions onlyd. any of the above

17. when posting to a one time vendor or customera. it is not possible to store the address detailsb. the address details have to be entered into the master before the transaction

is enteredc. the address details are entered as a part of the transactiond. none of the above

18. which of the following sequences of creating master accounts is logically correcta. G/L, bank, customerb. Bank, customer, G/Lc. Customer, G/L, bankd. None of the above

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ACADEMY: FINANCIAL ACCOUNTINGFI PAPER – 13

19. A down payment request makesa. a noted item posting in the vendor or customer accountsb. an actual entry in the customer accountsc. an actual entry in the vendor accountsd. an actual entry in vendor and customer accounts

20. where can the customer master be createda. in the SD moduleb. in the FI modulec. centrallyd. any of the above

21. which of the following posting keys is relevant for accounting guarantees received from a customer

a. 01b. 05c. 09d. 19

22. which of the following posting keys is relevant for accounting guarantees given to a customer

a. 01b. 05c. 09d. 19

23. which of the following posting keys is relevant for accounting bills of exchange of a customer

a. 01b. 05c. 09d. 19

24. interest calculation can be done fora. vendor accountsb. customer accounts c. G/L accountsd. All of the above

25. Incoming paymentsa. can post and clear vendor and customer line itemsb. can clear without postingc. can post, clear and delete the base invoicesd. none of the above

26. what is the maximum possible length of an internally generated customer number

a. 6b. 10c. 18d. 24

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ACADEMY: FINANCIAL ACCOUNTINGFI PAPER – 13

27. what field on the customer master record controls whether we will accept an incoming payment for less than the amount invoiced

a. sort keyb. tolerance groupc. payment methodd. bank key

28. what are the organizational entities for which the profit and loss statement and balance sheet can be generated

a. company code and business areab. company code and profit centerc. profit center and business aread. cost center and profit center

29. which of the following statements is truea. one company code can use multiple chart of accountsb. one chart of accounts can be used by multiple company codesc. one chart of accounts can contain only one chart of accounts

30. which of the following fields can be changed in the document change modea. allocationb. posting datec. document dated. G/L account no\

31. When a document is parkeda. the actual document number is generated but the document is not postedb. a temporary document number is generated but the document is not postedc. the document is posted with the actual document numberd. the document is posted with a temporary document number account number

32. what is the no. of periods available in a fiscal yeara. 12b. 14c. 16d. 52

33. what is the maximum no. of line items allowed in an accounting documenta. 2b. 50c. 100d. 999

34. which of the following statements is truea. one document type can use only one number rangeb. one document type can use multiple number rangesc. one account can be posted to by only one number ranged. one number range cannot be used by multiple document types

35. what is the maximum permissible length of a G/L account numbera. 6b. 8c. 10d. 18

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ACADEMY: FINANCIAL ACCOUNTINGFI PAPER – 13

36. the fields available for posting in a transaction are controlled through the field status group at

a. posting key level onlyb. posting key and G/L account levelsc. G/L account level onlyd. None of the above

37. a parked document can bea. modifiedb. deletedc. postedd. all of the above

38. when is the business area level balance sheet self balanceda. alwaysb. neverc. when the business area clearing closing procedure is rund. when the materials management period closing is completed

39. what is the number of sub levels at which accounts can be grouped in the financial statements version

a. 3b. 6c. 9d. 12

40. which of the following is truea. any accounting document can be reversedb. only documents posted through the parking method can be reversedc. only documents with external numbering can be reversedd. only documents with internal numbering can be reversed

41. a transaction can spana. multiple company codesb. multiple business areasc. multiple cost centersd. all of the above

42. the currency for a document is determined fora. the whole documentb. each line itemc. a group of line itemsd. none of the above

43. the document currencya. can be any currencyb. must be the company code currencyc. is the currency of the chart of accountsd. must be the currency defined in the G/L master

44. the local currency of a transactiona. can be entered by the user

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ACADEMY: FINANCIAL ACCOUNTINGFI PAPER – 13

b. is always the company code currencyc. is the currency of the chart of accounts’d. is determined by the country field in the customer/vendor masters

45. what dictates whether a document line item requires a tax codea. tax code in the vendor/customer mastersb. tax category in the G/L masterc. optional entry in every transactiond. none of the above

46. what sort key is used to sort line items by document currency amounta. 001b. 003c. 005d. 006

47. an account with automatic posting only indicator can be posted froma. FI module onlyb. Specific modules other than FIc. CO module onlyd. HR & PP modules only

48. What is meant by the option open items management in a G/L account master record

a. items on that account can never be clearedb. items on that account can be clearedc. no balances are available for that accountd. none of the above

49. what is meant by the option line item display in a G/L account master recorda. only line items can be displayedb. only balances can be displayedc. line items and balances can be displayedd. none of the above

50. the automatic payment programa. generates payment orders onlyb. generates payment orders and accounting transactionsc. generates accounting transactions onlyd. none of the above

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ACADEMY: FINANCIAL ACCOUNTINGFI PAPER – 13

KEY

1. A2. B3. A,B,C,D4. D5. C6. C7. A,B,C,D8. C9. A10. A11. B12. D13. A14. A15. C16. A17. C18. A19. A20. D21. D22. C23. C24. D25. A26. B27. B28. A,B,C29. B30. A31. A32. C33. D34. A35. C36. B37. A, B,C,,D38. C39. D40. A41. D42. A43. A44. B45. B46. D47. B48. B49. A50. B

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