EXAM 1 - General Ledger Accounts

A customer wants to analyze a G/L account, which is presenting asset acquisition value, on an investment order. What do you maintain in the G/L account master record to achieve this? There are 2 correct answers to this question. Set the G/L account type to Non-operating Expenses or income. Define the G/L account as an asset reconciliation account. Select the Record Account Assignment indicator. Enter value 90 in the cost element category field.

Which of the following special G/L transactions are noted items? There are 2 correct answers to this question. Guarantee of payment. Down payment. Down payment request. Bill of exchange payment request.

Which statements best describe extension ledgers in SAP S/4HANA? There are 2 correct answers to this question. Multiple extension ledgers can point to the same underlying ledger. Extension ledgers can be assigned their own posting period variant. Extension ledgers can have different currencies than the underlying ledger. Extension ledgers can be assigned their own fiscal year variant.

What are the reasons to perform regrouping of receivables and payables? There are 3 correct answers to this question. To group payables and receivables based on the due dates. To prioritize balance confirmation printing by postal code. To simplify and speed up dunning selection processing. To align amounts on accounts with changed reconciliation accounts. To display receivables and payables separately.

For which of the following can you park documents? There are 2 correct answers to this question. Customer accounts. Material accounts. General ledger accounts. Sales invoices.

Which information is checked by the system before a general ledger account k archived? Please choose the correct answer. The Blocked for Posting indicator is set in master data. The assigned group account is already archived. The Open item Management indicator is set in master data. The Mark for Deletion indicator is set in master data.

You are performing a system conversion for a customer that uses classic general ledger with the accounts approach. What must you configure in SAP S/4HANA for local and international accounting standards in order to migrate the account values? There are 3 correct answers to this question. Standard ledgers. Accounting principles. Valuation areas. Document types. Ledger groups.

You forgot to add a new general ledger account into the financial statement version. What impact does this have on the net profit and net loss? Please choose the correct answer. The balance of the new account is added to the notes in the financial statement item section and is excluded from the calculation. The balance of the new account is added to the non-assigned section and is included in the calculation. The balance of the new account is added to the non-assigned section and is excluded from the calculation. The balance of the new account is added to the notes in the financial statement item section and is included in the calculation.

Identify the steps performed during the general ledger closing operations for the fiscal year. There are 3 correct answers to this question. Accruals are carried out. Vendor invoices are posted. The balance carry forward program is run. Foreign currency documents are valuated.

What is the difference between the ledger approach and the accounts approach to parallel valuation in Asset Accounting? Please choose the correct answer. In the ledger approach, you maintain additional depreciation areas to post the delta valuation of each accounting principle, unlike the accounts approach. In the accounts approach, you define a technical clearing account for integrated asset acquisitions, unlike the ledger approach. In the accounts approach, you assign a completely separate set of accounts for each accounting principle, unlike the ledger approach. In the ledger approach, you assign a ledger group to every depreciation area, unlike the accounts approach.

You create a new G/L account. Which G/L account type can you assign? There are 2 correct answers to this question. Internal Activity Costs. Primary Costs or Revenue. Assessment Costs. Secondary Costs.

For which account can you perform account clearing in SAP S4HANA? Please choose the correct answer. For any G/L account defined as a reconciliation account. For any balance Sheet account managed on a line item basis. For any account that can be posted in foreign currency. For any account that is managed on an open item basis.

Which of the following is a technical year-end closing activity in SAP S/4HANA? Please choose the correct answer. Balance sheet adjustments must be posted. Foreign currency valuation must be posted. Accruals must be posted. Ledger balances must be carried forward.

For reporting purposes, your client would like to present information about customer postings that are NOT reflected in the G/L. Which special G/L type do you recommend? Please choose the correct answer. Statistical postings. Noted items. Bill of exchange. Free offsetting entries.

When is it possible to set the open item management indicator in a general ledger account? There are 2 correct answers to this question. When an account is set up as a secondary cost element. When an account has a zero balance. When an account is set up as a balance sheet account. When an account is set up as a reconciliation account.

You have to map two accounting principles for accounting. Using the accounts approach to parallel valuation in SAP S/4HANA, which ledger must you use? Please choose the correct answer. Leading ledger. Special purpose ledger. Extension ledger. No ledger.

Which fields in the company code definition of a general ledger account are always required? There are 2 correct answers to this question. Account Currency. Group Account. Sort Key. Field Status Group.

Flat-rate individual value adjustments are valid for which types of accounts? Please choose the correct answer. Supplier. Assets. Customer. Materials.

Which of the following information is entered in the chart of accounts segment of a G/L account? There are 3 correct answers to this question. Account number. Control fields. Currency fields. Consolidation fields.

What can you control with the reason code in Accounts Receivable? There are 3 correct answers to this question. The document type of the payment. The exclusion of disputed residual items from credit limit checks. The account where a residual item is posted. The type of payment notice sent to a customer. The special G/L indicator for the down payment.

Which of the following statements apply to the special general ledger types of noted items? There are 3 correct answers to this question. The account for the offsetting entry is selected automatically. No zero-balance check is made in the system. No postings are made on an offsetting account. No special general ledger indicators of your own can be created of this type. Noted items are posted to an alternative reconciliation account.

What account types can you use to classify general ledger accounts in SAP S/4HANA? There are 3 correct answers to this question. Secondary costs. Reconciliation accounts. Balance sheet. Non-operating expense or income. Field status group.

What information is provided when you execute the balance audit trail? Please choose the correct answer. The open account balances for customer accounts and supplier accounts. A comparison of general ledger account balances across ledgers. A list of changes of maintained sensitive fields in general ledger accounts. The starting balance and the yearly changes to the balance of a general ledger account.

Your customer wants to use data aging for the universal journal. Which criteria can you use to decide which data is moved to the historical partition? There are 2 correct answers to this question. Account type. Company code. Document type. Ledger.

In which items of a financial statement version can you find values related to accounts for sales deductions and material expenses? Please choose the correct answer. Sales deductions in loss item Material expenses in loss item. Sales deductions in loss item Material expenses in liabilities item. Sales deductions in liabilities item material expenses in loss item. Sales deductions in assets item Material expenses in loss item.

Which field status has the lowest priority (G/L accounts)? Please choose the correct answer. Hide. Optional entry. Required entry. Display.

Which of the following procedures are available to check the balance of receivables and payables in balance confirmations? There are 3 correct answers to this question. Balance adjustment. Balance request. Balance confirmation. Balance notification.

What is the relationship between accounts of the operating chart of accounts and the local chart of accounts? Please choose the correct answer. Many operating accounts to many local accounts. Many operating accounts to one local account. One operating account to many local accounts. One operating account to one local account.

Which of the following options can you use to change the G/L account master data using collective processing? There are 3 correct answers to this question. Change chart of accounts data. Change client level data. Change company code data. Change account descriptions.

What kind of automated checks are available for the financial statement version? There are 2 correct answers to this question. Check for accounts assigned to one side only. Check for incorrectly assigned accounts. Check the financial statement notes for non-noted item accounts. Check for duplicate item keys.

Which statements best describe extension ledgers in SAP S/4HANA? There are 2 correct answers to this question. Multiple extension ledgers can point to the same underlying ledger. Extension ledgers can be assigned their own fiscal year variant. Extension ledgers can be assigned their own posting period variant. Extension ledgers can have different currencies than the underlying ledger.

On which levels can you maintain useful life for documents of a company code in the context of data aging? There are 2 correct answers to this question. Number range interval. Profit center. Document type. Account type.

Why might you define options to have manually allocated item keys for the financial statement version? Please choose the correct answer. To be able to define if you want to summarize at the item level. To be able to assign functional areas to the items. To be able to enter an explanatory text for the item key. To be able to assign the same key to two multiple objects.

When creating a general ledger account and there are conflicting field statuses, which field status has the highest priority? Please choose the correct answer. Display. Optional. Required. Suppress.

Which of the following are the characteristics included in general ledger drilldown reports? There are 3 correct answers to this question. Company code. Business area. Total debit balance. Segment.

What is the name of the leading ledger that SAP provides with the standard system? Please choose the correct answer. 3L. 1L. 2L. 0L.

Identify the three types of tolerances in accounting. There are 3 correct answers to this question. Employee tolerance groups. G/L account tolerance groups. Special account tolerance groups. Customer/vendor tolerance groups.

For which activities can you use an extension ledger? There are 2 correct answers to this question. Simulation of foreign currency valuation. Parallel valuation of depreciation areas. Configuration of custom fields for financial statements. Adjustments for consolidation purposes.

What sort of special general ledger types exist? There are 3 correct answers to this question. Automatic offsetting entries (statistical). Noted items. Final payments. Free offsetting entries. Other types.

For which special G/L indicator do you specify a target special G/L indicator? Please choose the correct answer. Vendor down payment request. Bill of exchange. Guarantee given. Customer down payment.

In your SAP S/4HANA system, you want to archive the G/L accounts that are not used by the business in any company code. What are prerequisites to archiving all data of a G/L account? There are 3 correct answers to this question. The account is not used in any automatic account determination. There are no transaction figures for the account. Set the deletion flag in the chart of accounts data of the G/L account. Set the deletion flag in the company code data of the G/L account. Transaction figures are older than a customizable amount of years.

Which KPIs can you find on the accounts payables overview page? There are 2 correct answers to this question. Day sales outstanding. Collection effectiveness index. Aging analysis. Cash discount utilization.

For which of the following special G/L transactions does the SAP S/4HANA application not update the transaction figures? Please choose the correct answer. Noted items. Customer account. Vendor account. Special general ledger account.

Which General Ledger account type do you select to perform activity cost allocations? Please choose the correct answer. Primary costs or revenue. Non-operating expense or income. Secondary costs. Balance sheet.

Your customer doesn't want to implement profitability analysis, not even account-based, because the company doesn't understand its value. Which argument would you use to persuade the customer? Please choose the correct answer. Down payment integration can be performed with sales and distribution. Profit and loss statements can be analyzed by sales-specific characteristics. Balance sheets can be analyzed by sales-specific characteristics. Sales orders can be forecasted as liquidity items in cash flow reports.

You indicate that you're posting to the ledger group of an extension ledger. How many ledgers are updated? Please choose the correct answer. It depends on the ledgers grouped in the ledger group. The leading ledger and the extension ledger. The extension ledger and the underlying ledger. Only the extension ledger.

What types of chart of accounts are there? There are 3 correct answers to this question. Functional chart of accounts. Operational chart of accounts. Organizational chart of accounts. Country chart of accounts. Group chart of accounts.