Dear Sap guru,
Refer this quetions may be helps you
SAP FI/CO Some quetions and Answers
1. Since the line item display takes up additional system resources, you should only use it if there is no other way of looking at the line items. So, you should not activate the line item display for the following accounts (Note: we can have more than one correct sentence. Please select the sentences you think they are correct):
a) P+L Statement.
b) Reconciliation.
c) Revenue.
d) Material Stock.
e) Tax.
2. Consider the following statements:
2.1. Accounts with open item management must have line item display activated.
2.2. You can activate or deactivate open item management everytime, even if the account hasnÂ’t a zero balance.
2.3. You can select both local and foreign currencies as account currency.
2.4. If the account is the local currency, the account can only be posted to this currency.
2.5. When using the “Only Balances in Local Currency” indicator in the master data record, transaction figures are only managed for amounts translated into local currency.
Which of the above statements are true (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
a) 2.1.
b) 2.2.
c) 2.3.
d) 2.4.
e) 2.5.
3. True or false?
3.1. The “Only Balances in Local Currency” indicator must not be set in reconciliation accounts for customers or vendors.
a) True. b) False.
3.2. The “Only Balances in Local Currency” indicator is usually set in balance sheet accounts that are not managed in foreign currencies and not managed on an open item basis.
a) True. b) False.
3.3. Accounts with a foreign currency as an account currency can be posted to any currency.
a) True. b) False.
3.4. You can use a group chart of accounts for internal purposes.
a) True. b) False.
3.5. The usage of a financial statement version for the group chart of accounts is optional.
a) True. b) False.
4. What is the disadvantage of using the group chart of accounts (Please choose the correct sentence)?
a) Because changes to existing G/L Accounts are effective as soon as they have been saved and could have extensive consequences.
b) Because accounts with the account currency as local currency can only be posted to this local currency.
c) Because the company codes use different operational chart of accounts, you cannot carry out cross-company code controlling.
d) Because the group chart of accounts must be assigned to each operational chart of accounts.
e) Because you must enter the group account number in the chart of acounts segment of the operational account.
5. Consider the following statements:
5.1. You cannot use the country chart of accounts if you desire to use the cross-company code controlling.
5.2. The disadvantage of using country chart of accounts is the accounting clerks who may be familiar with the country chart of accounts first have to get used to using the operational chart of accounts.
5.3. Reconciliation accounts are updated on a daily basis.
Which of them are false (Please choose the correct sentence)?
a) 5.1 and 5.2.
b) 5.1 and 5.3.
c) 5.2 and 5.3.
d) all of them.
e) none of them.
6. Which are the segments of the SD view of the customer account master data (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
a) Client.
b) Company Code.
c) Controlling Area.
d) Sales Area.
e) Purchasing Organization.
7. Which are the segments of the MM view of the customer account master data (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
a) Client.
b) Company Code.
c) Controlling Area.
d) Sales Area.
e) Purchasing Organization.
8. What is the segment that makes complete both customer and vendor accounts (Please choose the correct sentence)?
a) Client.
b) Company Code.
c) Controlling Area.
d) Sales Area.
e) Purchasing Organization.
9. What characteristics are configured as standard for every customer/vendor account (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
a) Line Item Display.
b) Company Code.
c) Currency.
d) Open Item Management.
e) Purchasing Organization.
10. Consider the following statements:
10.1. Number ranges for customer/vendor accounts can overlap.
10.2. An one-time account is a special customer/vendor master record which a company rarely do business.
10.3. The account group is used to control the fields displayed in the master record.
10.4. If you enter an alternative payer, the amount to clear the open items due in the account is paid by the alternative payer.
10.5. One number range can only be assigned to one account group.
Which of the above statements are true (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
a) 10.1.
b) 10.2.
c) 10.3.
d) 10.4.
e) 10.5.
11. True or false?
11.1. For every bank that is used in the system (for example, as a house bank or as a customer/vendor bank) you have to create a bank master record.
a) True. b) False.
11.2. Banks that are used by your company are defined as house banks.a) True. b) False.
11.3. You cannot create bank master data when entering bank information in the customer or vendor master record.
a) True. b) False.
11.4. Bank Account and G/L Account are the same master data object.
a) True. b) False.
11.5. Customers that use the lockbox function can create a batch input session that automatically updates customer banking information in the master record.
a) True. b) False.
12. Consider the following statements:
12.1. The system can assign the document numbers or the user can assign
the number during document entry.
12.1. A business transaction creates only one document.
12.3. Document types are defined at company code level.
12.4. Number ranges for document numbers and account types defined for postings are defined by the document types.
12.5. Document types also define whether invoices are posted with the net procedure.
Choose the correct option:
a) 12.1, 12.4 and 12.5 are correct.
b) 12.2, 12.4 and 12.5 are correct.
c) 12.3, 12.4 and 12.5 are correct.
d) 12.1, 12.3 and 12.4 are correct.
e) 12.1, 12.2 and 12.5 are correct.
13. What do the posting keys specify (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
a) Whether the line item is connected to a payment transaction or not.
b) Whether the posting is sales-relevant and the sales figure of the account is to be updated by the transaction, for example, by the posting of a customer invoice.
c) Whether the line items contain “credit” or “debit” values.
d) Whether the line items are valid for a business transaction.
e) Whether the accounts are allowed for posting.
14. Consider the following statements:
14.1. A company code must be assigned to a posting period variant to have the control for posting periods.
14.2.‘+’ symbol represents all account types in the posting period customizing screen.
14.3. The account interval in the posting period customizing screen can be both G/L and subledger accounts.
14.4. The maximum amounts are defined per company code in “tolerance groups”.
14.5. It is not possible to assign tolerance groups to user logon ID’s.
Choose the correct option:
a) 14.1, 14.4 and 14.5 are correct.
b) 14.2, 14.4 and 14.5 are correct.
c) 14.3, 14.4 and 14.5 are correct.
d) 14.1, 14.2 and 14.4 are correct.
e) 14.1, 14.2 and 14.5 are correct.
15. What fields of a FI Document Header section can be changed after a document has already been posted (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
a) Fiscal Year.
b) Reference Number.
c) Text fields.
d) Header text.
e) Posting date.
16. About the change control, what conditions below are applicable (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
16.1. The posting period is already closed.
16.2. The line item is not yet cleared.
16.3. The document is a credit memo for an invoice.
16.4. The document is not a credit memo from a down payment.
16.5. The line item is either a debit in a customer account or a credit in a vendor account.
a) 16.1.
b) 16.2.
c) 16.3.
d) 16.4.
e) 16.5.
17. What are the prerequisites to enable negative postings (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
a) You have to define reversal reasons for negative reversal.
b) You have to ensure company code permits negative postings.
c) You have to define the document type that explicitly allows negative postings.
d) You have to use cleared items.
e) You have to reset cleared items.
18. What is the purpose of the terms of payment (Please choose the correct sentence)?
a) Calculate a cash discount and invoice due date.
b) Calculate the tax amounts.
c) Enable the cross-company code transactions.
d) Define the baseline date.
e) Calculate only the required conditions for SD invoices.
19. Consider the following statements:
19.1. Terms of payments are copied from invoice to credit memos when they are linked to.
19.2. Inserting a “V” in the invoice reference field during document entry means the terms of payment are activated in the
non-invoice-related credit memos.
19.3. The account type field in terms of payment basic data screen should be defined separately, to prevent any done change in the term of payment.
19.4. The system cannot define the splitment of an installment payment, at least you define it in the terms of payment.
19.5. The day limits define the dates of the cash discount periods.
Which of the statements above is false (Please choose the correct sentence)?
a) 19.1.
b) 19.2.
c) 19.3.
d) 19.4.
e) 19.5.
20. True or false?
20.1. SAP supports tax on sales and purchases, US sales tax, additional taxes and withholding tax as tax systems for different countries.
a) True. b) False.
20.2. Only national level of taxation is allowed in the R/3 system.
a) True. b) False.
20.3. A tax calculation procedure is assigned to every company code for carrying out tax calculations.
a) True. b) False.
20.4.A jurisdiction code is a combination of the codes of tax authorities that tax movements of goods and use their own tax rates.
a) True. b) False.
20.5. If you desire to post manual tax postings, you have to flag the “Post Automatically Only” field of the account master record.
a) True. b) False.
Answers:
1. B, C, D, E.
2. A, C, E.
3. True or false:
3.1. True.
3.2. True.
3.3. False. Accounts with a foreign currency as an account currency can only be posted to in this foreign currency.
3.4. True.
3.5. False. You must use a financial statement version for the group chart of accounts.
4. C.
Item “a” is related to Collective Processing for G;L Accounts Master Data.
Item “b” is not true for the R/3 system concept. If the account currency is the local currency, the account can be posted to in any currency.
Item “d” and “e” are some actions to be done for using group chart of accounts, so, they are not the disadvantage.
5. B.
In fact, since all company codes use the same operational chart of accounts for postings, you can carry out cross-company code controlling. About Reconciliation accounts, they are updated realtime.
6. A, D.
7. A, E.
8. B.
9. A, D.
10. B, C, D.
NOTE: A number range can be assigned to several account groups.
11. True or false?
11.1. True.
11.2. True.
11.3. False. In fact, we can create bank master data when entering bank
information in the customer or vendor master record.
11.4. False. Each bank account is reflected in the SAP System by a combination of house bank ID and account ID. This combination is entered in a G/L account that represents the bank accounting the general ledger.
11.5. True.
12. A.
13. A, B, C, E.
14. D.
15. B, C.
16. B, D, E.
17. A, B, C.
18. A.
19. E.
The day limits are used to store several versions of terms of payment under the same terms of payment key.
20. True or false:
20.1. True.
20.2. False. Two types of taxation can be represented in the R/3 system: taxation at national level and taxation at regional/jurisdiction level.
20.3. False. A tax calculation procedure is assigned to every country for carrying out tax calculations.
20.4. True
20.5. False. If you have selected this field, no manual tax postings are allowed.
Hope this helps you
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