A Little Bit of Everything
Comprehensive Finance Quiz
Test your knowledge with our engaging Comprehensive Finance Quiz designed for industry professionals and learners alike. Covering a wide range of topics from payment processes to asset management, this quiz will challenge your understanding and improve your skills.
- 80 carefully crafted questions
- Multiple choice and checkbox formats
- Immediate feedback on your answers
At which point is the down payment request created in the integrated down payment process with purchasing?
Purchase requisition
Purchase order
Goods Receipt
Invoice Verification
When adding a bank to the bank directory, which field is required?
Currency
Company Code
Opening Date
Country
Where is the billing document created?
Accounting
Financial Accounting
Sales and Distribution
Materials Management
What can you change for items that are in the exception list of the payment proposal?
Payment term
Payment Method
Payment block
Reason Code
Blank selection
For which following transactions can you use noted item?
Vendor payment
Customer Payment
Late payment
Down payment request
What is the order of steps when configuring the payment programs
All company codes, bank determination, paying company codes, payment methods in country, payment methods in company code
All company codes, payment methods in country, paying company codes, payment methods in company code, bank determination
All company codes, paying company codes, payment methods in country, payment methods in company code, bank determination
At which levels can validations and substitutions for FI be defined?
Line item
Universal Journal
System Data
Complete Document
Document Header
What are the steps in the data aging process?
Add the user authorizations, Define archive storage locations, Activate Aging
Activate aging, add the user authorizations, perform object specific customizing
Switch on the business function for aging, add the user authorizations, activate aging
Switch on the business fun
Which of the following are possible reasons that an invoice would not be paid?
An invalid house bank is selected
The invoice has a debit balance
The discount period has expired
The payment amount is less than the minimum amount specified for payment
Which of the following are special G/L types?
Statistical
Automatic Offsetting
Noted item
Reserve clearing
Free Offsetting
What are FI validations and substitutions assigned to?
Controlling area
Profit center
Company code
Call up point
Which date defines the period a document is posted?
Valuation date
Document Date
Entry Date
Posting date
What does the posting key define?
Document Type
Account Type
Debit or credit of the line item
Tax code
Field status of the line item additional details
Your customer would like to select a group of users to be able to post documents in the previous month during their closing cycle. How can this be done?
Assign the users to an authorization group that will follow interval one of the posting period variant.
Assign a the users to a special posting periods.
Put the users in a special posting group to follow interval one of the posting period variant.
Assign the users to an authorization group that will follow interval two of the posting period variant.
What are the three basic steps required to define a new company code?
Define new segments
Adjust basic and address data
Copy existing controlling area
Copy existing company code
Adjust global parameters
Your customer operates 20 company codes in 10 different countries and 3 continents. What is the minimum number of clients you must configure in the SAP S/4 Hana system depict this?
3
10
1
20
What is defined with the fiscal year variant?
Number of periods in a year
Start and end dates of the calendar year
Star and end dates of the fiscal year
Open and close fiscal periods.
Which of these are automatically set in the asset master record at the first acquisition?
Starting dat of the time interval field
Acquisition year and period
Date of initial acquisition
Date of capitalization
The the posting date and asset date belong to different years
What feature is used to create more than one asset master record at a time?
Collective processing
Multiple similar assets
Copy with refernce
Sub-numbers
What is true for assigning charts of depreciation to company codes?
All company codes of a single country must be assigned to the same chart of accounts
You assign company codes only to charts of depreciation delivered by SAP
A company with company codes in multiple countries can use a single chart of depreciation for all.
Each company code can be assigned to a different chart of depreciation
Which transactions lead to capitalization?
Valuated goods receipt
AuC settlement
Purchase order Purchasing
Non-valuated goods receipt
Intracompany transfer
How can you default a value for the cost center in the entire asset class for buildings?
By changing the assigned tab layout
By changing the assigned screen layout
By using asset sub-numbers
By entering it in default account assignments for the G/L account
For which kind of asset is the main text aways filled?
Group assets
Asset super numbers
Mass created assets
Asset sub-numbers
Charts of depreciation have what features?
Created at the Company code level
Maintained at the Client level
Maintained at the depreciation area level
They are country specifc
Manage legal requirements for asset valuation
Where is the financial statement version assigned for asset reporting?
Company Code
Report
Accounting principle
Depreciation Area
The following apply to asset classes.
Has a n:1 relationship with chart of depreciation
Contains two main sections-master data and depreciation data
Maintained at the company code level
Can be used by many company codes
When making a partial sale, how can you choose to calculate the amount of value reduction for the asset?
By quantity
By profit or loss
By posted depreciation
By amount
By percentage
An online test run for depreciation is limited to how many assets?
1000
100
10000
No limit
Which of following is true regarding the technical clearing account used during asset acquisition?
The account is a profit and loss account
The account must be created as a reconciliation account
The account is a balance sheet account
The account is not allowed to be defined in the asset account determination
The account can be integrated with Controlling
Why do assets under construction require a special asst class?
Because they must not be depreciated
Because interest can be charged to them
Because they must be displayed in separate accounts of the financial statement
Because they must be settled
When you post an amount to an asset in the LVA (low value asset) class that is above the threshold for the maximum value, how does the system respond?
The system produces an error: for you to post you must split the asset or post to another asset class
The system posts the value up to the LVA threshold and posts the rest to the asset sub-number
You receive a warning message
Which of the following can post to an asset under construction?
Only acquisitions
Only transfers/settlements
Acquisitions, investment support measures, down payments, special depreciation
If two depreciation areas with different accounting principles are set in sutomizing to post in real time, how many financial accounting documents will be posted during the depreciation run?
One document per asset
It depends on the document splitting rule assigned
Two documents, one per ledger
One document with two ledgers
Which of the following control data is carried out by the asset class?
Valuation approach
Number range
Screen Layout
Account determination
Calculation method
Which of the following are defined at the client level?
Chart of accounts
Cost centers
Asset master records
Asset classes
Charts of depreciation
Examples of pre-close activities fore periodic closing include:
Enter accruals and deferrals
Perform AuC settlement
Opening the new accounting period
Post goods issue for delivery to customers
Foreign currency valuation
For which organizational levels can you create financial statements? (4)
Business area level
Client level
Cost center level
Company Code level
Segment level
Profit center level
To which object do you assign valuation methods?
Valuation procedure
Account Assignement
Accounting principle
Valuation Area
Which of the following are value adjustment types for receivables?
Accrual/deferral
Flat rate adjustment
Individual value adjustment with special G/L transaction
Foreign currency valuation program
Flat rate individual value adjustment
General ledger drilldown reports contain which of the following?
Characteristics, such as company code and profit center
Balance confirmation output
Stock valuation methods
Key figures, such as total credit or debit balances
The following are reasons you might regroup receivables and payables?
To display their balance correctly on the balance sheet
To group them according to their remaining life
To calculate the amount of doubtful receivables
To create adjustment postings if reconciliation accounts have been changed on a customer or vendor master record
To post the realized exchange gain
What are the steps in the data aging process?
Add the user authorizations
Activate aging
Perform object specific customizing
Define archive storage locations
Switch on the business function for aging
When posting a document with document splitting by profit center: if there are two balance sheet accounts in the entry view document and two expense accounts with different profit centers in the entry view document: how many lines will you see in the general ledger view of the document?
4 (2 balance sheet and 2 expenses)
6 (2 balance sheet and 4 expenses)
6 (4 balance sheet and 2 expenses)
Which of the following are controlled by terms of payment?
Determination of the baseline date
Allowed account type
Account for cash discount
Setting for net procedure
Default payment method
What types of chart of accounts are there?
Functional chart of accounts
Organizational chart of accounts
Country chart of accounts
Operational chart of accounts
Group chart of accounts
When creating a GL account and there are conflicting field statuses, which field status has the highest priority?
Optional
Display
Supress
Required
Which object can define maximum length of G/L account?
Account type
Chart of accounts
Field status group
Sort key
What is the relationship between accounts of the operating chart of accounts and the local chart of accounts?
Many operating accounts to one local account
One operating account to many local accounts
One operating account to one local account
Many operating accounts to many local accounts
Which of the following organizational units are part of the enterprise structure of FI?
Functional area
Operating Concern
Plant
Business area
Segment
Which of the following are part of the Fiori user experience?
Instant value apps
Gui access is easy
Access to role based applications
Responsive apps that can be used across devices
Users can change toe color of their launchpad
For company codes to be assigned to the same controlling area, what must be true?
They must use the same leading ledger
They must have the same operating chart of accounts
They must use the same fiscal year variant
They must have the same currency
When creating the chart of accounts segment of a G/L account, which of the following apply?
Sort Key
Account group
Group account
Field status group
Which of the following apply to posting keys?
Control the number range
Maintained at the client level
Determine if the value is debit or credit
Identify the source of the posting
What can you control with the tolerance group?
Maximum amount per open item
Maximum tax amount
Maximum exchange rate deviation
Maximum amount per document
Maximum permitted payment difference
Which field cannot be changed during document posting for the one-time customer
Customer name
Customer number
Customer address
Customer country
Which field can you configure in the business partner so that the document reference number is transferred to the line item as the assignment field?
Line item text
Reference
Language
Sort Key
Flat rate individual value adjustments are valid for which types of accounts?
Supplier
Asset
Customer
Materials
Which of the following are defined by dunning levels?
Dunning key
Days in arrears
Payment deadline
Interest Indicator
Baseline date
Which of the following account assignment objects can you assign in the asset master record?
Activity type
Cost center
Order
Cost element
Which of the following parameters are controlled by the screen layout?
Field selection
Number Range
Maintenance level
Reference
The cross company depreciation area is required in which of the following intercompany transfers?
For transfers between different countries
For transfers where the asset class is changed
For all intercompany transfers
For transfers with non matching depreciation areas
When posting integrated asset acquisitions, the technical clearing account is posted to when:
The asset is acquired by transfer
The ledger approach is in use
The account approach is in use
Which of the following options are included in the Asset Explorer
Go to master record
Post document
Drilldown reports
Display depreciation calculations
Identify three types of tolerances in accounting.
Employee tolerance groups
G/L account tolerance groups
Special account tolerance groups
Customer/Vendor tolerance groups
What checks does the year end program perform for assets?
Depreciation list and asset history sheet have been checked
Assets are complete and error free
The last fiscal year has been updated
Depreciation and asset balances are posted in full
In stock valuation, which of the following groups of stock are valuated?
Raw materials, supplies, consumables
Goods invoices
Finished goods
Work in process
Identify the steps performed during GL closing for the fiscal year.
Accruals are carried out (posted)
Foreign currency documents are valuated
Vendor invoices are posted
Balance carry forward program is run
Which of the following are default items assigned to every Financial Statement Version?
Liabilities & Equity
Liquid Funds
Assets
P&L results
Noted Items
What are the reasons to perform regrouping of receivables and payables?
To group payables and receivables based on the due dates
To align amounts on accounts with changed reconciliation accounts
To display receivables and payables separately
To simplify and speed up dunning
To prioritize balance confirmations
Which of the following are true regarding foreign currency valuation?
It can include open item accounts
It is executed before creating financial statements
It must be reversed in the next period
It posts to the reconciliation account found on the BP master record
Which of the following tolerance groups should every company code always have?
Defined
Blank
Special
Named
Vendor is also a customer. They payment program has to clear open items. What setting has to be maintained for the business partner?
Same bank details
Alternative payer and payee
Same payment method
Account link
In the payment method settings for the company code, what options do you have for payment optimization?
Optimization by bank group
Optimization by discount
Optimization by due date
Optimization by postal code
What feature can be used to minimize currency translations?
Manual exchange rate maintenance
Base currency
Worklists
Which object can define the maximum length of a G/L account?
Account type
Sort Key
Chart of Accounts
Field status group
To which do you assign a dunning procedure?
Functional area
Business partner
Client
Segment
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