1. Thanks to integration with the Materials Management module, all data from _____ flows to Financial Accounting. Select an answer: 

sales orders 

goods receipts 

goods issues 

outbound delivery documents

2. You are the accounting manager for your company. Before you post a parked document to the General Ledger, what is a recommended best practice? Select an answer: 

Return the document to an accounting clerk to verify the document is complete. 

Use the Check button to verify that the document is complete. 

Close the period you wish to post to. 

Use the Check button to check the document out of "parked" status, so it can be posted.

3. In the open item selection area of the Post Incoming Payments transaction in SAP, what value is entered in the account field? Select an answer: 

supplier business partner number company code asset number customer business partner number

4. When would direct invoices be created? Select an answer: 

when a service is being invoiced 

when a sale is too large 

when a sale is created outside of sap 

when a customer is international

5. When you are creating new master records for fixed assets, how is the Number of similar assets field in Create Asset useful? Select an answer: 

If you purchased five computers similar to the computers that already exist in your system, some of the data will autopopulate. 

If you purchased five delivery trucks, you could copy over the data from five sets of computer software you also purchased. 

If you purchased five computers for the same total price as another fixed asset, some of the data will autopopulate. 

If you purchased five computers, you could enter "5" in the field and do all five records at once.

6. When are asset master records created?

Select an answer:

when an asset is transferred

when an asset is depreciated

when an asset is retired

when a new asset is acquired

7. By referencing a purchase order, what information does the invoice NOT automatically populate?

Select an answer:

vendor bank information

invoice date

vendor

material

8. When are accounts receivable reports NOT useful?

Select an answer:

when suppliers want to know when they will be paid

when customers want to know when their bill is due

when upper management wants to know what the cash flow situation looks like

when you must enter the invoice date manually

9. Why are company codes important in SAP?

Select an answer:

Company codes are general ledger accounts where transactions in the sub ledgers are automatically updated.

Company codes link SAP Financial Accounting with other modules.

Company codes are the smallest unit where financial statements can be created and comply with legal regulations.

Company codes list all the accounts in the general ledger.

10. What two business partner roles must be set up for a supplier before they can be used in the sales and accounts payable process?

Select an answer:

prospect, supplier (fin. accounting)

prospect, financial services bp

supplier (fin accounting), supplier

prospect, supplier

11. You receive an invoice from a supplier for a product you purchased. How does the reconciliation process in SAP deal with that invoice in a way manual bookkeeping would not?

Select an answer:

The automated reconciliation process is the only way a General Ledger entry could be made.

You would not be able to reconcile the invoice with an order to the supplier otherwise.

You will see the invoice automatically reconciled with the order from your customer.

The invoice will automatically post an accounts payable to the supplier's subledger account

12. When retiring an asset by scrapping there is _____ revenue associated.

Select an answer:

20 percent

zero

10 percent

the assigned

13. Unplanned asset depreciation is depreciation that occurs _____.

Select an answer:

other than at the end of a financial period

when an asset has reached the end of its useful life

quarterly

when an asset increases in book value

14. If you open a report in Master Data under Accounts Payable Accounting, what data will you see?

Select an answer:

data relating to payment transactions with vendors

data relating to supplier balances

data relating to vendor items

data relating to business partners (suppliers) set up in your system

15. When is unplanned depreciation used?

Select an answer:

quarterly

monthly

annually

when an asset depreciates faster than intended.

16. You are making the entries after your company acquired an asset from a vendor. Which entry that you made in the Add Vendor Item screen field must match the value in the Add Asset Item detail screen?

Select an answer:

the code you enter in the Posting Keys field

the value you enter in the Amount field

the terms you enter in the Payment Terms field

the sales tax amount you enter in the Tax Amount field

17. Where in Asset Explorer can you find an asset's Cost Center?

Select an answer:

in the asset's Depreciation menu tree

in Planned values

in the G/L Account folder

in Objects related to asset

18.

When you are creating a new customer business partner, where will you match the reconciliation account?

Select an answer:

to the Payment Transaction tab

to the Company Code

to G/L Accounts Receivable

to the Customer General Data tab

19.

Why is the asset explorer useful?

Select an answer:

You can see all transactions for a single asset.

You can see all assets that have been maintained.

You can see all transactions for all assets.

You can see all assets that have been transferred.

20.

One of your company's delivery trucks has become so old, it is no longer worth the money to repair it. If you scrap the truck, what are you doing in terms of recording this in SAP?

Select an answer:

You are retiring the asset from your accounting system, while continuing to depreciate the asset.

You are retiring the asset for all accounting and depreciation purposes.

You are transferring the asset to another part of your business

You are removing the asset from your active fleet of delivery vehicles.

21. What does "parking" a document in SAP mean?

Select an answer:

Parking posts the document automatically.

Parking puts a reservation on the document.

Parking stores a document without posting it.

Parking does not save the document.

22. You moved $5,000 from your bank to the salary account. What General Ledger entries must you make?

Select an answer:

a $5,000 credit to petty cash and a $5,000 credit to your bank account

a $5,000 credit to petty cash and a $5,000 debit to your bank account

a $5,000 debit to salary and a $5,000 credit to your bank account

a $5,000 transfer from your bank and a $5,000 receipt into petty cash

 

 

Answer rating: 100% (QA)

The detailed answer for the above question is provided below SAP Accounting Multiple Choice Answers 1 c goods receipts ExplanationGoods receipts documents capture information about materials received ... View the full answer