Sap Financials Certification Practice Questions With Answers (1)

SAP FINANCIALS (ECC6.0) Collection of Sample Practice Q’s with A’s for Certification Exam (For Quick Reference)

Prepared By: Ms. Pramila Nagaraj First Class MBA Finance Graduate (2009-10) Global Academy of Technology, Bangalore (VTU- Belgaum) Trained up in SAP FICO @ SAPTAC Bangalore (FRESHER) Note: Answers – Indicator is **

SAP FINANCIALS – CERTIFIACTION SAMPLE QUESTIONS WITH ANSWERS

SAP FINANCIALS - COLLECTION OF SAMPLE QUESTIONS WITH ANSWERS

1. Automatic Payment Run: One or More Correct

If we define Payment method in Vendor master data as well as in the line item and

enter payment of the master data in the parameter system show the line item in

exception.**

One payment run can be used to execute the payment of several company codes

providing all of them are of same country and using same chart of account.

One payment run can be used to execute the payment run of several company codes,

providing all company codes are using same currency.

Payment program consider only those credit memo which are credited with reference

to invoice.

Can be used for customer, vendor and GL accounts we have to define the payment

method in GL master and not in the line items.

2. Regrouping of Accounts Payables/Accounts Receivables can be used if One or More Correct

Vendor or Customer reconciliation account is changed.

If vendor has a debit balance or customer has credit balance

Regrouping of Accounts Receivable according to remaining life.

All of the above. **

3. Interest on arrears is applied to individual items in accounts receivable or accounts payable

True **

False

4. Functional area can be derived from: One or More Correct

Master Record of the P&L Account **

Master Record of Balance Sheet Account

Manual Entry **

Master Record of CO Object **

Validation

Substitution **

Transaction data of CO Document

5. The schedule manager facilities period end closing and reflects a cross application access point

for all tasks involved in closing process

True **

False

6. Form Types: One or More Correct

Dual Axis form with key figure **

Single Axis form with key figure **

Single Axis form without key figure **


7. Account ID can be entered in: One or More Correct

Customer Line Items

Customer Master

GL Master **

Vendor Line Items

Vendor Master

8. Balance Confirmation is: One or More Correct

Legal and Technical Organization requirement

Technical Organization Requirement

Legal Requirement **

9. The Run date is recommended as the actual date when the program is executed

True **

False

10. You can choose the key figures either in the form or report

False

True **

11. A form describes the basic content and formal structure of report lists

True **

False

12. Dunning proposal list and dunning proposal log show the same level of information

True

False **

13. You can maintain the interest rate to be used to calculate for the interest due on credit balance

False **

True

14. You can access important reports using the information system for each following area: One or

More Correct.

Accounts Payable **

General Ledger **

Accounts Receivable **

15. We can create interest calculation type which is assigned to system defined interest calculation

indicator.

False **

True


16. Dunning run can be divided into three steps: One or More Correct

Select all open items

Select dun line item **

Dun Account **

Select Account **

17. The advantages of PMW are

Format can be changed easily **

New formats can be created without programmer **

Uniformity **

18. The Settings for payment program are defined in 3 places

At the time of posting invoice – item level **

In the Customizing for payment **

In the master record of the vendor **

19. Six steps for conversion to PMW include

Define PMW Format **

Enter PMW form accompanying sheet **

Fill note to payee according to origin **

Remove Payment media form **

Create and Assign selection variants **

A Change over to PMW **

20. Dunning Run: One or More Correct

Dunning can be done for vendor as well as customer. **

Dunning can be done for vendor if he has a credit balance.

Dunning can be done for customer if he has a credit balance.

Dunning proposal can be edited, deleted and recreated. **

Parameters of an old dunning run can be referenced. **

21. For each dunning level you can specify that interest is to be calculated or not

True **

False

22. If dunning notices are to be sent to one-time customers the data is updated in: One or More

Correct

All the items in the accounts

Only relevant item is updated **

One time vendor account

All subsequent items to be posted


23. Check Management: One or More Correct

Each Payment method has its own check number.

Check lot is automatically created while creating House Bank.

Each House Bank has its own check number. **

Check lot is used for automatic payment run only.

The number status is maintained per lot. **

24. Payment Method: One or More Correct

Can be changed after document is posted. **

Cannot be changed after document is posted.

Can also be changed in the proposal. **

Payment method if change after payment proposal in the line items, it has no effect in

the current proposal. **

25. You can print following information in automatic payment run: One or More Correct

Dunning List

Dunning Statistics

Dunning History

All are incorrect **

Dunning Log

26. If a customer has a head office with several branch offices, items are posted to the central

account this is called decentralized processing.

True

False **

27. House Bank: One or More Correct

House Bank is the Bank which has a Business Transaction with your company deals. **

One House Bank can have several Account ID providing all of them are in different

currencies.

Account ID and Bank keys are similar terminology used in SAP.

House Bank represent the branch of the bank from which your company code is

dealing with. **

28. Exception list contains all the open items: One or More Correct

Invalid Payment Method **

If no payment method is entered in the master data and in the line item. **

No payment block indicator.

Credit Balance in vendor account

If they are block. **

29. Accrual and Deferral is a periodic activity

False

True **


30. If following dunning level are on the line items of any customer which level will be set in the

customer master data: One or More Correct

Level 9 **

Level 4

Level 7

Level 2

31. In dunning parameters we enter posting date

True

False **

32. You can call up the flowing within a drill down report: One or More Correct

Drilldown Reports **

Report Writer Reports **

BW Reports **

SAP EIS Report portfolio reports **

Transactions **

General Reports(ABAP, Standard Reports) **

33. Account balance interest calculation is applied to the entire balance of GL only

False

True **

34. If Company A is making payment on behalf of another Company B, then B is called sending

company code.

True **

False

35. Dunning charges are defined for each currency and depend on the dunning procedure.

True

False **

36. Payment Method Configuration: One or More Correct

Paying company code is the company code that is responsible for processing outgoing

payment. **

If company code X is making payment on behalf of another company code B, then B is

the sending company code. **

If a company code X is making payment on behalf of another company code B, then B

is the paying company code.

One company code is paying on behalf of another company code; this is an example of

cross company transaction. **

37. You can create a user specific layout, which only you can use.

True **

False


38. If dunning charges are recorded for any customer it automatically adjusts customer open items.

False **

True

39. The Automatic payment process consists of 4 steps (User Side)

Start Proposal Run and Edit it. **

Parameters **

Schedule Print **

Start Payment Program **

40. Select the Incorrect Statement: One or More Correct

We define payment method in the reconciliation account master data of customer and

vendor. **

System default the payment method from the master data of reconciliation account

in the vendor line item**

If no payment method is entered, system default payment method from the vendor

masters data.

41. You can choose to use separate dunning notice by dunning level

False **

True

42. The posting periods for company code are defined by fiscal year variant

True **

False

43. Profit and Loss using the Period Accounting and Cost of Sales Accounting: One or More Correct

All of the above

In Cost of Sales Accounting, the output of a period and the total cost of the period are

summarized.

In period accounting the sale revenue for a period and sales cost of the period are

summarized.

The operating result can be different.

None of the above. **

44. The accounts payable information system is split into reports for: One or More Correct

Vendor Balances **

Master Data **

Payment Transactions **

Vendor Items **

45. Type of Interest Calculation: One or More Correct

Interest on all due open items

Account Balance Interest Calculation **

Interest on Arrears **


46. Key figures are not just values and quantities, but also calculations involving these values and

quantities with user-defined formulas.

True **

False

47. You can use specific selection criteria to choose line items that you want to evaluate. These

selections refer to: One or More Correct

The accounts in which you want to see in line items in specific company codes. **

The selection of line items themselves, based on their status and category. **

Selection criteria that you can choose using search help. **

48. When balance sheet carry forward program is executed, the system calculates the balance

carried forward to the new balance sheet account.

False

True **

49. Lowest priority for derivation of Functional Area is: One or More Correct

Balance Sheet Accounts Master Data

Manual Entry

Validation

CO Document

Master Record of CO object **

50. Dunning print program for the dunning procedure: One or More Correct

Generate during notice for each group **

Group items to be dunned with a dunning notice according to various rules. **

Enter the dunning dates and level in the dunning items and accounts. **

51. Characteristics Include: One or More Correct

Chart of Accounts **

Total Debit Balance

Business Area **

Balance sheet value

Total Credit Balance

Company Code **

Currency **

52. You maintain Exchange rate table: One or More Correct

At chart of account level

At company code level

All of the above

At client level **


53. Value date = payment run posting date + days until due date

False

True **

54. Drill down report is a tool that enables you to analyze the GL accounts open items and financial

statements.

True

False **

55. In SAP checks are managed in batches or lot and are used for both manual and automatic

payments

True **

False

56. SAP Graphics, SAP mail, and various printing functions are connected to drilldown reporting

together with Microsoft Word for Windows and Microsoft Excel.

True **

False

57. Dunning run Configuration: One or More Correct

Dunning procedure is configured at client level **

For one time account special configuration needs to be maintained in dunning

procedure

Dunning procedure control how dunning is carried out **

Dunning programs not used for one time account

Dunning procedure can process standard and or special GL transaction **

58. Following items are not selected in the dunning run, One or More Correct

If incoming method is maintained in the line item **

If payment block indicator is set in the line item

No dunning procedure is maintained in the GL Master data

If dunning block set is in the line item **

59. House Bank can be entered in: One or More Correct

GL Master **

Customer line items **

Vendor line items **

Customer Master **

Vendor Master **

60. Account balance interest is applied to GL as well as to customer account

True

False **


61. The dunning charges can be a fixed amount or a % of all [due] the items in the account.

False **

True

62. Dunning run also post cash discount directly.

True

False **

63. Amount field is not updated automatically after each payment run.

True **

False

64. You can have multiple retained earnings accounts and if so then you need to select in the master

data with P&L account has which retained earning account.

False

True **

65. If necessary you can automatically printout the notice directly after the dunning run.

True **

False

66. At the beginning of the fiscal year the balance carry forward program is carrying forward the

balance of; One or More Correct

GL Account **

Vendor Account **

Customer Account **

67. You can change the layout of lists without selecting data first and save the changed list layout in

variants.

False

True **

68. Balance sheet preparation valuation indicator program SAPF100 determines whether or not

open items will be updated.

True **

False

69. Closing activities for external purpose include; One or More Correct

Period opening and closing

Receivable Payable regroup **

Execution of compact journal **

Foreign Currency Valuation **

FI-GRIR Clearing Account Analysis **


70. In the company code during control screen you can specify whether dunning notice are to be

created separately by dunning area rather than by account for a company code.

False

True **

71. A combination of characteristics and characteristic values is generally called an object in

drilldown report.

False

True **

72. You can define correspondence type to use with reason codes

True **

False

73. A correspondence type : One or More Correct

Can be user define. **

You can use the standard correspondence types. **

Represent type of form in the letter in the SAP R/3 system. **

You need to create a correspondence type for each type of letter you need. **

Special Program needs to be created to create a new correspondence type.

74. Select the correct statement : One or More Correct

If Company code A belongs to India and Company code B belongs to country Pakistan,

and company code A pays on behalf of company code B system treats this transaction as

cross company code transaction in Automatic Payment Program.

Tolerance level for maximum payment program configuration. **

All company code can use the payment method, which is defined in the country specific

setting of payment method. **

Payment method has two components one is company code and the other is country

specific setting. **

75. Executing Automatic Payment Program: One or More Correct

In automatic payment program only check can be created if check form is assigned in the

payment method company code setting. **

Posting date is the date which GL account is updated. **

In automatic payment program we can restrict the documents. **

Automatic payment program should be executed separately for customers and vendors.

76. House Bank can be entered in : One or More Correct

GL Master **

Customer Line Items **

Vendor Line Items **

Customer Master **

Vendor Master **


77. In the parameters, the company code in a payment run must be in the same country

True **

False

78. System calculates the balance carried forward to the old fiscal year for each balance sheet

account.

True

False **

79. Account balance interest is applied to GL as well as to customer account

True

False **

80. You can use cross company code during notice to combine overdue items from different

company codes in dunning run.

True **

False

81. Periodic correspondence is triggered by specification made in the vendor, customer and GL

Master data

True

False **

82. For all company codes all configure

Cash Discounts **

Inter Company payment relationships **

Customer/Vendor transactions to be processed **

Company codes that process payments **

Tolerance days for payments **

83. If a document has several line items some of the items may have different reason codes and

associated correspondence type.

False

True **

84. All customers should have at least one dunning level in the master data

True **

False

85. Each check lot has a defined number range and is assigned to one house bank.

True **

False


86. Payment Medium Workbench : One or More Correct

New format can be created with little programming experience. **

PMW facilitates for select vendor open item during automatic payment run.

In PMW format can easily be changed with making modification. **

PMW facilitates uniformity. **

Before PMW it is easy to maintain the program used in payment media.

87. Foreign currency valuation : One or More Correct

Can be used for customer open items in local and foreign currency.

Is necessary if a vendor account contains cleared items in foreign currency.

Can be used for vendor account open items in local currency.

Is necessary if a vendor account contains open items in foreign currency. **

Can be used for GL account balances. **

88. The items in a dunning notice are sorted according to various sort criteria : One or More Correct

Separate dunning letter for each dunning level. **

Grouping Key **

Dunning Key

89. Dunning no. of days in arrears is defaulted by the system

True **

False

90. When you select items using search help, the system offers input help for the vendor line item

list ; One or More Correct

Vendor Country/Company code

General Vendor data

Vendor by purchase, material or plant reference

All of the above **

Vendor personnel number

91. Select the incorrect statements: One or More Correct

If you want dunning interest to be calculated, you have to enter dunning indicator in

vendor and customer master data

An item whose number of days in arrears is less than or equal to the number of grace

days is not considered due for this dunning notice.

An item whose number of days in arrears is less than or equal to the number of grace

days is considered due for this dunning notice. **

The grace period is the days that at least one item in account exceeds the grace period

days then system selects all the open items which are due.


92. The identification field is used to differentiate between program runs that have the same run

date.

False

True **

93. Value adjustment can be carried out through: One or More Correct

If you are using Special GK indicator it should always be E.

Flat rate individual value adjustment program. **

Special GL transaction. **

94. Period Opening and Closing is a part of year – end activities

False **

True

95. The Run date is recommended as the actual date when the program is executed.

True **

False

96. Following items are not selected in the dunning run : One or More Correct

If dunning is set in the line item. **

If payment block indicator is set in the line item.

If incoming method is mentioned in the line item. **

No dunning procedure is maintained in the GL master data.

97. Every dunning run is identified by the following two fields : One or More Correct

Document Due date

Run date **

Identification **

98. You can define correspondence type user master data.

True

False **

99. Standard text has to be assigned to a company code and optionally to a dunning area.

True **

False

100. Select the Configuration Areas for the payment program

Payment Method per country **

All Company codes **

Paying Company Codes **

House Banks **

Bank Section **


101. Each Financial Statement Version must have the following Special items: One or More Correct

Liabilities **

Assets **

Individual Line Item **

Loss **

Profit **

Account not assigned **

Profit and Loss result **

102. Reconciliation ledger is a function which is used to adjust the difference between profit center

accounting and controlling

True

False **

103. Financial Statement Version : One or More Correct

You always need to create the Financial Statement Version and copy function is not

recommended.

You can define maximum of 101 Financial Statement Versions.

FSV is defined at Company code level.

FSV is defined at Chart of account level. **

Shows the financial position of company.

104. Fiscal year for each Balance sheet account and Profit & Loss account is closed to the retained

earning

False

True **

105. Select the correct statement : One or More Correct

Payment run select all the open items, which are due. **

Items can be blocked in the proposal for payment. **

Run dates and document enters up to be are always same.

In Vendor master data only one pay method can be specified at a time.

It is advisable to use bank sub account for payment. **

106. Select the correct answers : One or More Correct

If you do not specify the sending company code paying company code is the sending

company code. **

Currency of Bank account (Account ID) GL account defined in the account ID should be

same except in those cases where balance only in local currency is not marked in the GL

master data.

Account ID in the system represents the account in the House bank.**

One house bank can have several accounts ID providing all have only one GL account.

Document type for payment is configured per company code per payment method.


107. You can use Cross company code dunning notice to combine overdue items from different

company codes in dunning run.

False

True **

108. Closing Activities for external purpose include : One or More Correct

FI – GR IR Clearing account analysis **

Foreign currency valuation **

Evaluation of Compact journal

Receivable Payable regrouping **

Period Opening and Closing

109. Select the Incorrect Statements : One or More Correct

Some Fields of Vendor and Customer master data are required on the basis of setting in

the payment method setting.

Users define the minimum amount for payments and form that will be used for each

company code in the payment method country specific setting. **

You can restrict payment method to specific currencies.

If payment method is for incoming payment it is only used for customer incoming

payment. **

110. For documentation purposes, the balance audit trail is carried out

False

True **

111. Debit Balance check : One or More Correct

Debit balance check is carried out after payment proposal. **

Debit balance check can be carried out after payment run. **

Debit balance check is required if vendor has a Debit balance. **

We can change the debit balance check.

Vendor who has a debit balance, all of his line items always shown in the exception list.

112. If you select the work lists available field, you can activate and deactivate the input fields for

work lists on the selection screen for each line item list.

True **

False

113. Every payment program run is identified by 2 fields

Rune date **

Identification **

Parameters


114. Select the Correct Statements : One or More Correct

Automatic Payment run can also be used for Special GL transaction, if Special GL

indicator is maintained in the automatic payment configuration. **

All types of open item selected in automatic payment program without any additional

configuration. **

If no payment method is entered in the line item as well as in the master data of vendor,

line item will not be selected in the payment program.

Automatic payment run can only used for standard open items.

115. A correspondence type : One or More Correct

Represent type of form in the letter in the SAP R/3 system. **

You need to create a correspondence type for each type of letter you need. **

Can be user define. **

You can use the standard correspondence types. **

Special Program needs to be created to create a new correspondence type.

.

116. Item Interest Calculation : One or More Correct

Calculate interest on cleared item only and post the interest. **

Calculate interest on open items and or cleared items without posting the interest. **

Calculate interest on open and cleared items and post the interest. **

Calculate interest on balances.

117. You can do value adjustments for vendor as well as customer using system standard functions.

False **

True

118. Select the correct answers : One or More Correct

If Vendor is also your Customer separate incoming and outgoing payment is recorded for

customer and vendor. **

We can automate the payment process. **

You can automate payment process through Solution Manager.

If Vendor is also your Customer payment is always been made with net amount in

automatic payment run.

You can automate payment process through Schedule Manager. **

119. System Variants are only displayed in the catalog and not in F4 Input Help if you select the

relevant indicator.

False

True **

Documents

Sap Financials Certification Practice Questions With Answers (1)