Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 1 Variants are assigned to posting periods True False QUESTION 2 Documents can be posted to a company or company code without assigning number

QUESTION 1 Variants are assigned to posting periods True False

QUESTION 2 Documents can be posted to a company or company code without assigning number ranges to the document type. True False

QUESTION 3 Which answer is correct with respect to the fiscal year variant K1. 1. Calendar year with 1 special closing period 2. Calendar year with quarterly closing periods 3. Calendar year with monthly closing periods and 3 special closing periods 4. Calendar year with quarterly and monthly closing periods

QUESTION 4 A tolerance group is a form of Internal control True False

QUESTION 5 Document Types can determine the posted to type of account True False

QUESTION 6 Select the appropriate descriptions of transaction data (2 correct answers) 1. Transaction data is like master data 2. Aggregate transactional data is dynamic 3. Transactions do not create documents 4. Does not impact the FI module 5. Include business activities that are both internal and external exchanges

QUESTION 7 A document type is used to.... (3 correct answers) 1. Control which account type you are allowed to post 2. Assign a specific document number range 3. Create unique headers 4. Structure the posting keys 5. Distinguish between different types of business transactions

QUESTION 8 Which item is not part of the Accounts Payable Settlement for the Monthly Rent Cycle. 1. Select payment method and bank 2. Select items for payment 3. Post the payment document 4. Close the Purchase Order

QUESTION 9 For goods receipts, a tolerance can be set for the purchase requisition price quantity and the moving average quantity variance. True False

QUESTION 10 Automatic Account Assignment can have a modifier for the transaction key based on various movement types. True False

QUESTION 11 All of the following are movement types that can modify the transaction key except for... 1. AUF - Goods receipt from a production order 2. Blank - Goods receipt from a purchase requisition without account assignment 3. VAX - Goods issue to sales 4. VBR - Goods issue to consumption

QUESTION 12 The account category reference builds the link between material types and the valuation classes. True False

QUESTION 13 A purchasing tolerance limit is set for allowed variance before a warning/error message is displayed. True False

QUESTION 14 The following are effects of a goods receipt except for.... 1. Purchase Order is updated 2. Vendor master record updated 3. Material and financial documents are created and/or updated 4. Material Master stock and value updated

QUESTION 15 Purchase Orders are a formal request to a vendor to provide materials or services. True False

QUESTION 16 A goods receipt has an impact on both the Materials management (MM) and Financial Accounting (FI) modules. True False

QUESTION 17 When a goods receipt is made, the following are possible destinations except for.... 1. Stock 2. Consumption 3. Outbound truck 4. Blocked stock (conditional acceptance)

QUESTION 18 A contract cannot be used as a reference for a purchase order. True False

QUESTION 19 A vendor contract will typically specify a negotiated price or quantity of a material or service True False

QUESTION 20 Select the appropriate definition of a Buyer/Supplier Relationship that is Antagonistic. 1. each party attempts to maximize their gain (win/lose) 2. parties understand the benefits of working together (win/win) 3. parties look for opportunities to create value (win/win) 4. parties view each other as the enemy (lose/lose)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Behavioral Finance And Asset Prices

Authors: David Bourghelle, Pascal Grandin, Fredj Jawadi, Philippe Rozin

1st Edition

3031244850, 978-3031244858

More Books

Students also viewed these Finance questions