Questions and Answers of Fundamentals Of Financial Accounting 7th Edition

On which levels can you maintain useful life for documents of a company code in the context of data aging? (There are two correct answers.) A. Document type B. Account type C. Number range
Which of the following is a difference between data aging and data archiving? A. Data aging allows you to retrieve the aged data for analysis. B. Data aging frees up memory space. C. Data
True or False: You execute data aging separately for each data aging object. A. True B. False
True or False: If you can delete a general ledger account for a company code, you can also remove it from the chart of accounts. A. True B. False
What is a reason for performing data archiving? A. To have fewer downtime cycles B. To control hardware requirements C. To protect data from being lost D. To back up data on a separate drive
What are the steps in the Customizing of data archiving? (There are three correct answers.) A. Define archiving storage locations. B. Perform cross-object Customizing. C. Define table partitions.
What is the main motivation for creating rules for substitutions and validations? A. Simpler definition tools B. Reuse in multiple steps C. Not bound by Boolean logic D. Additional fields
True or False: Multisets can be created if they combine data from basic sets that all group the same characteristic. A. True B. False
True or False: A single substitution step can be defined to substitute multiple fields in a document. A. True B. False
At which levels can validations and substitutions for financial accounting be defined? (There are three correct answers.) A. Line item B. System data C. Universal Journal D. Complete document E.
What are the basic definitions you make for validations? (There are three correct answers.) A. Prerequisite B. Check C. Rule D. Set E. Message
Why would you choose to implement the document parking workflow for journal entry verification, compared to the general journal entry verification process? A. You do not use SAP Fiori. B. You need
Which values can you define as prerequisites for triggering the general journal entry verification workflow? (There are three correct answers.) A. Account group B. Target company code C. Cost
What options does a processor have for a general journal entry submitted for verification? (There are three correct answers.) A. Park B. Approve C. Delete D. Reject E. Suspend
True or False: Subworkflows define the number of release levels in the docu-ment parking workflow process. A. True B. False
How can you differentiate the document parking workflow process on the business partner level? A. Assign different workflow release groups B. Assign different payment methods C. Assign different
On which level is the document parking workflow variant assigned? A. Company B. Company code C. Business partner D. Profit center
What are the differences between holding and parking documents? (There are two correct answers.) A. The held document doesn’t have a document number assigned. B. The held document can be
When creating a bank as a business partner, what roles are assigned to the business partner by default? (There are three correct answers.) A. Customer B. Supplier C. General D. Financial
What is defined in the bank account connectivity path settings? A. Payment approvers for workflows B. Business partner assigned to the bank C. House bank account ID details D. Relevant profit
On which level do you maintain the bank directory? A. Bank area B. Company code C. Client D. Profit center
When adding a bank to the bank directory, which field is required? A. Company code B. Opening date C. Currency D. Country
For which of the following tasks must you always indicate manual task completion? A. Programs B. Transactions C. Notes D. Flow definitions 24.True or False: Each task in the SAP S/4HANA Financial
Which type of stock is best suited to a moving average price (MAP) valuation? A. Raw materials B. Work in process (WIP) C. Finished goods D. Third party
What are the reasons to perform regrouping of receivables and payables?(There are three correct answers.) A. To display receivables and payables separately B. To group payables and receivables
Flat-rate individual value adjustments are valid for which types of accounts? A. Assets B. Supplier C. Customer D. Materials
True or False: You can post a simulation run for the leading ledger to analyze the effects of the currency valuation on your P&L standings. A. True B. False
You use the lowest-value valuation method with active delta logic. Your open item was posted at 200 units of foreign currency, which originally translated to 100 units of local currency, and in the
To which object do you assign valuation methods? A. Valuation procedure B. Account assignment C. Accounting principle D. Valuation area
Which process is automated with purchase order accruals, compared to manual accruals with the accrual engine? A. Start accrual run B. Create accrual object C. Create opening posting D. Breakdown
How can you select to post accrual amounts when customizing the accrual engine? (There are two correct answers.) A. Post delta amounts B. Post foreign currencies C. Post closed periods D. Post
True or False: You can adjust a recurring entry before each run to account for price updates on purchases. A. True B. False
What is the main differentiating factor of posting a manual accrual document compared to other manual transactions? A. Reference field B. Reversal reason C. Document type D. Transaction type
What checks can you perform from the Audit Journal app? (There are three correct answers.) A. Check gaps in journal entry numbering B. Check nonbalancing accounts C. Display journal entry changes
Your company code is assigned to a leading ledger, two additional normal ledgers, and one extension ledger. How many carryforwards must be executed? A. 1 B. 3 C. 4 D. 8
A maximum of how many special/valuation periods can be open at the same time? A. 1 B. 2 C. 4 D. 16
In SAP S/4HANA, on which levels can you maintain open posting periods?(There are two correct answers.) A. Controlling area B. Segment C. Posting period variant D. Fiscal year variant
How many separate period intervals are there to control open posting peri-ods? A. 1 B. 2 C. 3 D. 4
In the trial balance report that is based on line items, how many fields can you select to report on? A. More than 100 B. Around 50 C. Fixed at 10 D. More than 500
Which object hierarchies can you maintain with the Manage Global Account-ing Hierarchy app? (There are three correct answers.) A. Cost center B. Internal order C. Segment D. Profit center E.
What kind of automated checks are available for the financial statement version?(There are two correct answers.) A. Check for duplicate item keys B. Check for accounts assigned to one side only C.
True or False: You can assign general ledger accounts to any item level in the financial statement version hierarchy. A. True B. False
Which of the following are default items assigned to every financial statement version? (There are three correct answers.) A. Liabilities and equity B. Profit and loss (P&L) results C. Liquid
True or False: You can define the financial statement version without assign-ing a specific chart of accounts to it. A. True B. False
Why might you define options to have manually allocated item keys for the financial statement version? A. To be able to assign the same key to two multiple objects B. To be able to enter an
When should fiscal year close for asset accounting be carried out? A. Directly before balance carryforward B. Directly after balance carryforward C. When the previous fiscal year is closed D.
True or False: With the depreciation run completing even when assets have errors, you no longer should worry about fixing assets with errors. A. True B. False
True or False: You can select to execute the depreciation posting run for a single depreciation area. A. True B. False
An online test run for depreciation is limited to how many assets? A. 100 B. 1,000 C. 10,000 D. No limit
The cross-company-code depreciation area is required in which of the follow-ing intercompany transfers? A. All intercompany asset transfers B. Transfers with nonmatching depreciation areas C.
You have an invoice for transport expenses for your AUCs. These expenses can be capitalized per IFRS but not in the local GAAP. What is the best way to handle this? A. Post the invoice to the AUCs
When you post an amount to an asset in the LVA class that is above the threshold for the maximum value, how does the system respond? A. The system produces an error message; for you to post, you
True or False: To post intercompany asset transfers, you maintain the crosscompany-code clearing accounts. A. True B. False
When making a partial sale, how can you choose to calculate the amount of value reduction for the asset? (There are three correct answers.) A. By quantity B. By posted depreciation C. By profit
True or False: When posting an integrated asset sale to a customer, you enter a debit for the customer with posting key 01 and credit for the asset with posting key 75. A. True B. False
True or False: In both the ledger and accounts approaches, the technical clearing account is posted to by all accounting-principle-specific documents. A. True B. False
Which transactions lead to asset capitalization? (There are three correct answers.) A. Purchase order in purchasing B. Valuated goods receipt C. Assets under construction (AUCs) settlement D.
True or False: The document type maintained in the asset transaction type is proposed but can be changed manually during posting. A. True B. False
You execute a report based on the location and are missing an asset. What might have happened? (There are two correct answers.) A. The asset has been fully depreciated. B. The asset was sold to a
For which kind of asset is the asset main text always prefilled? A. Asset super numbers B. Group assets C. Asset subnumbers D. Mass-created assets
When you copy an asset, the asset text is copied as well. How can you avoid this? A. By changing the assigned screen layout B. By changing the assigned tab layout C. By changing the asset class
Which of the options are types of user fields? (There are two correct answers.) A. Group asset B. Serial number C. Evaluation group D. Asset super number
How can you default a value for the cost center in the entire asset class for buildings? A. By using asset subnumbers B. By changing the assigned screen layout C. By changing the assigned tab
True or False: Two assets in the same asset class, belonging to different company codes but with the same chart of depreciation, can post to different accounts. A. True B. False
Two assets (belonging to the same company code) post depreciation to different general ledger accounts. What does this mean for the assets? (There are two correct answers.) A. The assets belong to
What is true for real depreciation areas? A. They are set to always post to the general ledger. B. Each can be assigned multiple currency types. C. You can post transactions to them
True or False: A single depreciation area can post to multiple ledgers. A. True B. False
What is true for assigning charts of depreciation to company codes? A. All company codes of a single country must be assigned to the same chart of depreciation. B. Each company code can be assigned
Which system components are directly integrated with asset accounting?(There are three correct answers.) A. Bank account management B. Investment management C. Purchasing D. Plant maintenance E.
Which KPIs can you find on the accounts payable overview page? (There are two correct answers.) A. Day sales outstanding B. Cash discount utilization C. Aging analysis D. Collection effectiveness
True or False: The special general ledger indicator is the only way to post to a customer or supplier using a different reconciliation account. A. True B. False
At which point is the down payment request created in the integrated down payment process with purchasing? A. Purchase requisition B. Purchase order C. Goods receipt D. Invoice verification
True or False: You can change all delivered special general ledger indicators and assign your own to business processes. A. True B. False
True or False: You can assign correspondence types directly to a payment dif-ference reason code. A. True B. False
When assigning dunning charges to a dunning procedure, what options do you have? (There are two correct answers.) A. Assign a fixed amount without assigning a dunning charge percentage. B. Assign a
On what level do you assign dunning areas? A. Client B. Company code C. Functional area D. Segment
What can you change for items that are in the exceptions list of the payment proposal? (There are three correct answers.) A. Payment block B. Payment term C. Payment method D. Bank selection E.
In the payment method settings for the company code, what options do you have for payment optimization? (There are two correct answers.) A. Optimization by due date B. Optimization by discount C.
What is the correct order of steps when configuring the payment programs? A. All company codes, paying company codes, payment methods in country, payment methods in company code, bank determination
When a payment in foreign currency clears the amount of the invoice exactly in the foreign currency but in the local currency is more than the invoiced amount, what does the system do? A. Post to
You receive a payment for an invoice that is smaller than the owed amount.How can you manage payment differences in the Post Incoming Payments app? (There are two correct answers.) A. Partial
What can you enter in the header section of the Post Outgoing Payments app?(There are three correct answers.) A. Value date B. Bank fees C. Discount amount D. Customer E. Payment terms
Your customer doesn’t want to implement profitability analysis, not even account-based, because the company doesn’t understand its value. Which argument would you use to persuade the customer?
When setting up the system, you want to maintain default values for users of a company code. Which application do you use? A. User Maintenance B. Maintain User Profile C. Default Values (SAP Fiori)
What does assigning a screen variant during document entry do? A. It defaults values for fields in the document line item. B. It changes the fields that are ready for entry in the document header.
You’ve negotiated payment terms that include three installment payments with your customer. How many terms of payment must you define? A. 1 B. 2 C. 3 D. 4
You’ve agreed to terms of payment with a business partner that is a customer and a supplier. The same terms are to be used both ways (incoming and outgoing).You’ve defined a new terms of payment
Which configuration can you use to define separate payment terms for the same terms of payment key? A. Day limit B. Company code C. Country D. Installment payment
What can you achieve by using the head office/branch scenario? A. Settings changed for the head office master record will be transferred to the branch account. B. Postings made to the head office
A business partner is both a customer and a supplier. The customer has a sizable open amount unpaid. You want to make sure that the payment program posts no outgoing payments to the business partner
Which field in the business partner master can you configure so that the document reference is transferred to the line item? A. Assignment B. Reference C. Line Item Text D. Sort Key
True or False: Bank details for a business partner are part of the general business partner role. A. True B. False
Which field cannot be changed during document posting for the one-time customer? A. Customer Number B. Customer Name C. Customer Industry D. Customer Country
Which business partner objects can you define field statuses for? (There are two correct answers.) A. Account group B. Client C. Role D. Type
You’re configuring a new SAP S/4HANA system. What are your options for defining the number range assignments for business partners? A. The supplier drives the number range used. B. The customer
True or False: The business partner role grouping is where you assign the business partner number range. A. True B. False
True or False: After assigning a role to the business partner and saving your data, you’re no longer able to remove the role assigned. A. True B. False
You’ve mistakenly created your business partner with the wrong business partner category. You’ve saved the data but haven’t made any postings. What can you do to correct this? A. Change the
Which business partner categories does the system support? (There are three correct answers.) A. Group B. Agency C. Person D. Organization E. Public sector
True or False: Using cost of sales accounting can lead to a different result(profit/loss amount) at the end of a period compared to period accounting. A. True B. False

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