Financial Accounting 1 part2

Bank master records are created at the client level and can be assigned in all costumer and vendor master files. true. false.

If a costumer is also a vendro, the payment program can clear open items between the costumer and vendor accounts. true. false.

Alternate payer o payee information entered at the client level of the master data takes priority over data entered at the company code level. true. false.

Which of the following steps are parts of the process of configuring the payment program. configure the paying company codes. configure the payment methods per company code. configure the house banks. configure the GL account fields status for document entry.

all of the company codes in the payment run parameters must be in the same country. true. false.

Which of the following are possible reasons that an invoice would not be paid?. The invoice has a debit balance. An invalid house bank is selected. The discount period has expired. The payment amount is less than the minimum amout specifed for a payment.

You can review the exception list before executin the payment proposal. True. false.

Which of the following activities does the system perform during the paymen run?. the system exports a list o documents to be paid. the system make postings to the GL and AP/AR subledgers. the system clear open items. the system supplies the print programs with necessary data.

After you complete the dunning run, you can print out the dunning notices inmediately. true. false.

There are 4 dunning program steps that can be performed during the automatic dunning procedure as follows. mantain the parameters. schedule the dunning run. change the dunning proposal. start the dunning print out.

Customers who do not have a dunning procedur in the master record are dunning using, default dunning procedure. true. false.

It is possible to dun vendors as well as customers. true. false.

Which of the following objects are relevant to the dunning program. dunning levels. expenses and charges. minimum amounts. bank selection.

You can define dunning charges for each currency. Dunning charges depend on the dunning level. true. false.

Using parameters, you cann specify wich documents and accounts the system considers in a dunning run for company codes. true. false.

the run date is always the date when you are supposed to start a dunning run. true. false.

Every outgoing invoice the system dun is overdue, but the system does not dun all the overdue outgoing invoices. true. false.

What is the maximun dunning level that can be assigned to a dunning procedure?. 9. 1. 7. 11.

you can prevent certain items for exceeding a certain dunning level by assigning dunning keys to them. true. false.

List 5 reasons why the system might not dunn overdue items. the account is not contained in the parameters. the items are within the grace period. the items or accounts are blocked for dunning. the items or accounts have a payment method for incoming payments, but no payment block. the overdue amount is less than the minimum amount.

List the main steps involved in creating the dunning proposal. 1.-the account selection. 2.-the line item dunning. 3.-the account dunning.

The payment terms of a credit memo usually do not apply and the due date is either the due date of the associated invoice or the baseline date of the document. true. false.

Every dunning procedure must have at least 4 dunning levels. true. false.

The system only duns an account if all the overdue items have exceed the minimu day in arrears. true. false.

The dunning run updates the dunning data in the dunned items and accounts. true. false.

The system only sends a dunning notice if the dunning data changed since the last dunning run, or if always dun ? is selected. true. false.

Which of the following list support the dunning clerk's work?. the dunning history list. the blocked account list. the dunning list. the list of vendor balances in local currency.

After you create the dunning proposal, the system ignores changes to the dunning data in the items or master records in the current dunning run. True. false.

You can edit, delete, and re-create the dunning proposal as often as you need to. true. false.

Payment notices are a type of correspondance with the costumer. true. false.

Correspondance can be created online when you manually process payments or from the line item display. true. false.

A document has several line items, with different reason codes entered. For an the automatic payment which correspondance type does the system choose?. the one assigned to the tolerance group. the one in the first line item. the one in the line item with the largest amount. the system prompts for the user to assign one.

Which of the following are the month-end closing activities for external purposes?. Perform foreign currency valuations. Create external an internal reports. close the old period. post goods issues for deliveries customers.

The managerial closing activities include locking the old accounting period. true. false.

A company that decides to use the accounts approach will use on GL Account to report the differences. true. false.

If more tah one P&L statements type exists, the P&L statament type can oly be maintained in the GL account master record. true. false.

Provisions are relevant for parallel accounting because, in different accounting principles, the amount of the provision can be different. true. false.

while setting up the accounts approach for provisions, the field status group changes the consolidation transaction type for the provisions balance sheet account to___________. a required entry. an optional entry. a suppressed entry. a display entry.

When using FI with one accounting principle, all FI documents are posted in one general ledger. true. false.

To set up the ledger appoach, you need to define a non-leading ledger and assign the non-leading ledger to company codes. true. false.

When you ceate a ledger , you also need to create a ledger group in the SAP system manually. true. false.

The SAP ERP application provides a Standard report (RFBILA00) for creating financial statements. true. false.

Customers using classinc GL Accounting can use RFBILA00 to create a financial stament at which organization levels?. business area level. company area level. client level. segment level.

Financial statament versions consit of a maximum of 10 hierarchy levels. true. false.

You can produce different outpusts from a stadard report ( RFBILA00) program specifying different financial statement versions. true. false.

The sample financial statament versions delivered with the stadandard system can be modified to create your own versions. True. false.

You can write up to six lines at the beginning and at the end of a financial statement version item. true. false.

A drilldown list always shows all the key figure and characteristic combinations for a single combination of drilldown characteristic values. true. false.

Which of the following are the characteristics included in general ledger drilldown reports?. company code. business area. segment. total debit balance.

Characteristics and key figures form the basis of the drilldown report presentation. true. false.

During balance confirmation, an output check and error list are generated for each client. true. false.

You must specify at least 2 addresses to which balance confirmations are to be sent. true. false.

Which of the following procedures are available to check the balance of receivables and payables in balance confirmation. balance confirmation. balance notification. balance adjustment. balance request.

You carry out foreign currency valuation after creating financial staments. true. false.

In valuation method which of the following is NOT a valuation approach for foreighn currency valuation?. lowest value principle. strict lowest value principle. revalue only. high rate of interest principle.

the valuation method contains the valuation aproach to be used for carrying out a foreign currency valuation. false. true.

With enhancement package 6 for SAP ERP, you dont have to assign an accounting principle and FI valuation area to post foreign currency valuations to different ledgers ( General Ledger Accounting )new)). false. true.

How many intervals are defined for the foreign currency valuation run ID per cliente. 1. 0. 2. 3.

The system post the realized exchange differences in foreign currency during open ittem. true. false.

After you have executed an update run of FAGL_FCV in a client, the new program is used automatically in the future, no matter how you start the valuation. true. false.

Which currency valuation program is replaced by FAGL_FCV?. SAPF130K. SAPF100. FAGL_FC_VALUATION. FAGL_FALUATION.

Doubtful receivables and individual value adjustments during year-end closing. false. true.

You are no longer able to perform automatic flat-rate individual value adjustments for overdue receivables with enhancement package 6. true. false.

Before creating financial statements, you have to group your receivables and payables according to their remaining life so that they are correctly displayed in the financial statements. true. false.

When regrouping payables, if General Ledger accounting (new) is active, you can use the old or the new FAGL_CL_REGROUP PROGRAM. TRUE. FALSE.

Which 2 reports should you use to create correspondance to and from customers and vendors to enable you to verify the balance of receivables and payables. SAPF130K. SAPF130L. SAPF130E. SAPF130D.

You cannot change the reconciliation account in the costumer or vendor master record during a fiscal year. true. false.

Which program is used to enter accruals and deferrals regulary?. Compact document journal. Devising program. Ledger Grouping. Recurring entry program.

When you enter a manual (transaction FBS1) accrual or deferral document, you have to enter a reversal reason the reversal date, and the user name. true. false.

In deferral documents, expenses and revenues are posted in the current period but belong at least partially in a future period. true. false.

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

The balance of the profit and loss (P&L) account is posted to the P&L carry-forward account. true. false.

Period interval 3 can only be mantained for account type S. true. false.

The system uses the posting date that you specify during document entry to determinate to which posting period the document is posted. true. false.

As part of the GL month-end closing, a consistency check of debit and credit transaction figures for costumer accounts, vendor accounts, and GL accounts (table FAGLFLEXT) with the debit and credit totals of the posted documents (table BSEG) is performed. true. false.

To reduce the load on the system, what should you do with the older documents that exist in the database. archive and delete. delete. extract and delete. backup and delete.

After older documents have been archived and deleted from the database, you can still use the balance audit trail to explain an account balance. true. false.

Parallel financial reporting means that you must create a financial statements for a company in accordance with different accounting rules. true. false.

You can only use the leading ledger to model different accounting rules. true. false.

The financial closing cockpit allows all stakeholders associated with the financial close to access or initiate their tasks in the system. true. false.

Which of the following types of tasks are available in the financial closing Cockpit. online transactions. flow definition. task list template. remote tasks.

Which of the following has to be created and assigned to an organizational structure before the financial closing cockpit can be used?. task list template. flow definitions. programs. subfolders.

Which of the following can you use for multiple programs with variants that are to be processed automatically. online transactions. flow definition. remote tasks. task list template.