fico interview questions set 15

ACADEMY: FINANCIAL ACCOUNTINGFI PAPER – 15

mySAP Business Suite overview

1. What are the essentials of SAP’s product strategy ( in just a few words)

2. MySAP business suite contains the following: (Choose the right answers)a. cross industry solutionsb. industry solutionsc. technologyd. services

3. SAP business object consists of a. attributesb. methodsc. attributes and methodsd. none of the above

4. what is long form of BAPI

5. BAPI is assigned to one and only one business objecta. trueb. false

6. what are the new dimension products of SAP in cooperative business scenario

7. what are two major elements of mySAP.com

Navigation

1. You can only work in one window (session) at a time in an SAP systema. trueb. false

2. which of the following statements accurately describe a client in an SAP systema. a client represents a completely independent business entityb. a client has its own databasec. a client corresponds to a customerd. a client may represent an entire company

3. the following strings are valid entries in the command field: Choose the correct answers.

a. /nendb. /nexc. ?SM04d. /nsm04e. from SAP easy access: SM04f. from SAP easy access: search_sap_menu

4. you can use the F1 key toa. display an explanation of a field’s usesb. display a list of possible input valuesc. change your user data (e.g., the logon language)d. end the session you are ine. display detailed

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5. you can use the F4 key toa. start another sessionb. display detailed technical information on a programc. call the SAP libraryd. display possible entries for an input fielde. create a print request of the screen currently displayed

6. you can also call the context sensitive SAP library using the F1 keya. trueb. false

7. the following personalization options are available in the SAP-GUIa. you can change the font size (within limits)b. you can have system messages displayed in a dialog boxc. you can change the size of input fieldsd. you can suppress the display of picturese. every user can display a picture of their choice on the SAP easy access screenf. you can use a personal input history on your front end

8. what is the maximum no. of parallel sessions that you can open

9. what is the name of the function you reach if you choose: tools admn monitor system monitoring user overview? What transaction code could you use to call this transaction instead of the menu

10. R/3 system containsa. database server onlyb. application server onlyc. presentation server onlyd. all of the above

11. all data and programs are contained ina. application serverb. database serverc. none of the above

12. maximum no. of sessions a user can open when he logs on to SAPa. oneb. threec. fived. six

13. what are the three servers of R/3 system

14. to delete the current session, what command is used

15. where you can find transaction code for the function you are working in

16. which key is used for help on fields, menus, function, messages

Overview of financial accounting

1. One chart of accounts

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a. can be assigned to several company codesb. can be defined as a group chart of accountsc. only contains definitions of G/L accountsd. can only be assigned to one company code

2. which statements are correct:a. the field status tool bar controls the document type, the posting key and the

account no.b. you can control the issue of document nos., via the account typec. the tax rate and tax indicator are pre-set by SAP for each countryd. you can use the field status tool bar to control the characteristics of the

document fields

3. the length of G/L account no. should be mentioned ina. G/L account groupsb. G/L accountc. Chart of accountsd. None of the above

4. Which of these statements on document principle are correcta. R/3 can assign the document nos. alwaysb. A business event can trigger only one document within R/3c. Each business event creates an account document in R/3d. R/3 will link related documents in the system

5. All FI entries will be repeated in CO module alsoa. trueb. false

Basic settings

1. You can assign a business area to a company code directlya. trueb. false

2. which of the predefined fiscal year variants area. calendar yearb. year specific

3. for what purposes are year specific fiscal year variants used

4. name the tools for maintaining the exchange rates

5. what keys are used to define currencies

6. name three commonly used exchange rate types and what they are used for7. fiscal year can be

a. year dependentb. year independentc. both year dependent and year independent

8. fiscal year which is a calendar year can havea. 12 normal periodsb. less than 12 normal periodsc. more than 12 normal periods

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9. shortened fiscal year can havea. 12 periodsb. more than 12 periodsc. less than 12 periodsd. should have less than 12 periods

10. company code can havea. one local currency onlyb. two local currenciesc. any no. of local currenciesd. none of the above

11. which of the following is truea. company can use indirect exchange rate onlyb. company can use direct exchange rate onlyc. company can use both indirect and direct exchange rates

12. which of the following is true in relation to SAP featuresa. business areas are company code specificb. business areas are assigned to company codesc. business areas are used for reporting across company codesd. none of the above

13. what is the highest level element of organizational units

14. what is the business unit where cost accounting is carried out in SAP

15. business areas are company dependenta. true b. false

16. how many characters does a company code have

17. one chart of accounts cannot be assigned to more than one company codea. trueb. false

18. in case of non calendar fiscal year, annual displacement indicator is useda. trueb. false

19.what are the two segments of a chart of accounts

20. which chart of accounts is used for consolidation

21. at what level is vendor account defined

22. more than one plant can be attached to a single company codea. trueb. false

23. purchasing is done by what organization and for whom

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24. what are the three steps for standard procedure for procurement transactions in FI

25. what is the central organizational structure in profitability analysis

26. one company code may contain several sales organizationsa. trueb. false

27. what document is created when receivables and revenues are posted in SD module

28. what is the main criteria for defining asset

29. what areas are used to keep more than one valuation basis for depreciation

30. more than one cash journal can have the same cash accounta. trueb. false

31. what is the element other than document header in an FI document

32. document no. range can be both internal and externala. trueb. false

33. in which case same document number will be taken for a new financial year

34. group chart of accounts is used for consolidationa. trueb. false

35. at what level a vendor account is defined

36. more than one plant can be attached to a single company codea. trueb. false

37. several company codes can use the same posting period varianta. trueb. false

38. you can close a financial year even if you have parked documentsa. trueb. false

39. G/L account/posting keys contain further specifications for account assignment in tax calculation procedure

a. trueb. false

40. what is a base amount

41. what does a tax code contain

42. reconciliation account type for vendor is K and for customer it is D

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a. trueb. false

43. if an account is managed with open items, then line item display must be activated

a. trueb. false

44. in consolidation, to which are company codes and business areas attached

Master records

1. A G/L account consists of which segments

2. Name possible field status definitions in the order of their priority

3. Different company codes can use the same____________

4. The ________ controls the field display for the company code data in the G/L account master record

5. __________ contain the total of the transaction figures for the corresponding sub ledger groups

6. Reconciliation accounts are updated on a daily basis. a) true b) false

7. You can always display the line items of a G/L account a) true b) false

8. G/L accounts with open item management must have line item display activated a) true b) false

9. G/L accounts that are managed in local currency can only be posted to in this currency a) true b) false

10. G/L accounts that are managed in foreign currency can only be posted to in this foreign currency a) true b) false

11. because company codes use different operational chart of accounts, you cannot carry out cross company code controlling a) true b) false

12. a complete customer account consists of the following parts: _____________

13. a complete vendor account consists of the following parts: __________________14. the customer/vendor accounts must always be maintained centrally a) true b) false

15. one number range can only be assigned to one account group a) true b) false

16. _______ no. assignment means that the R/# system assigns the number automatically

17. You maintain a customer/vendor master records ____________ if you create the FI segments at the same time as the SD/MM segments

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18. G/L accounts have ________ no. assignment; customer / vendor master records can have ________ or ________ no. assignment

19. the co. code data of a customer/vendor master record consists of _____ areas, viz: ______ (tab pages)

20. True / false a. a G/L account consists of a chart of accounts and one or more company code

segmentsb. the accounts group controls the screen layout of the chart of accounts

segmentc. all G/L accounts must carry a tax indicatord. you can directly post to the reconciliation accountse. the account currency is stored in the chart of accounts segment

21. which statements regarding the bank master records are correcta. the G/L account name of the house banks has to concur to the name in the

bank key directoryb. the name for the G/L account at the house bank is freely definablec. the G/L account name of the house bank can contain the name of the bank

and the account no.d. the G/L account name of the house bank is defined in chart of accountse. the G/L account names of the house bank can be defined to company code

that differ from the chart of account

22. the G/L account becomes complete if wea. add company code segment to chart of accounts segmentb. create both company code segment and chart of segmentc. create chart of accountd. copy chart of account segment from other company code

23. if we are using same chart of account in more than one company codea. company code segments are same in all company codesb. account name and account number is the same in all company codesc. currency in company code segment in all company codes are samed. the group account number is different in all company codes

24. the appearance of the company code segment of a G/L account is based ona. account group entered in the chart of account segmentb. group account number entered in chart of accounts segmentc. assignment of group chart of accounts in chart of accountsd. none of the above

25. the appearance of an account master data is based ona. account numberb. field statusc. chart of accountsd. none of the above

26. creation of duplicate accounts in AP is prevented by usinga. match code before creating the new accountb. sensitive dual control

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c. switching on automatic duplication checkd. none of the above

27. retained earnings account isa. specific to company codeb. specific to clientc. specific to chart of accountsd. none of the above

28. which of the following is truea. company code can have one retained earnings account onlyb. company code can have more than one retained earnings accountc. chart of accounts can have more than one retained earnings accountd. chart of accounts can have on retained earnings onlye. none of the above

29. which of the following is truea. account group controls the document field statusb. account group controls the number rangec. account group controls the master record field statusd. all of the above

30. which of the following statements are correcta. the G/L account name for house banks must match the names given to the

house bank in the bank directoryb. the G/L account name for house banks are user definablec. the G/L account names for house bank could be the bank name and account

no.d. the G/L account names for house banks are defined in the bank directorye. at company code level, G/L account names for house banks can be different

from those in chart of accounts

31. G/L master created is always for all company codes in R/3 a) true b) false

32. Currency is a required field entry while creating G/L master a) true b) false

33. We cannot control the postings in the G/L by way of tax code entry for a G/L account a) true b) false

34. Tax codes are created and operated at country level a) true b) false

35. Tax codes are created at company code level a) true b) level

36. Tax codes are time dependent a) true b) false

37. Jurisdiction codes are not used at all while creating tax codes a) true b) false

38. In AP & AR, account group cannot be created with external number range a) true b) false

39. Reconciliation account definitions are available in general data and vendor master a) true b) false

40. chart of accounts view of G/L account keeps the data like general data a) true b) false

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41. fiscal year variant can be of two types. Name them

42. in case of G/L accounts, number ranges are attached to G/L accounts. a) true b) false

43, account groups are used to control following propertiesa. field status of transaction fieldb. field status of master fieldsc. field status of master fields and number ranged. field status of master fields, number range and whether accounts are P&L /

B/S

44. you can post transactions to an account in any currency only ifa. account currency is not maintainedb. account currency is same as local currency of company codec. account currency is different from company code currencyd. under all circumstances

45. planning levels in G/L accounts are used fora. generating G/L planningb. planning memo entries in treasuryc. classifying transactions pertaining to cash flowd. classifying G/L accounts as per B/S format

46. you can carry forward P&L account balances toa. multiple retained earnings accounts automaticallyb. single retained earnings accounts automaticallyc. multiple retained earnings accounts through period end closingd. single retained earnings account through period end closing

47. default exchange rate picked up during FI document entry isa. exchange rate maintained for type Bb. exchange rate maintained for type Mc. exchange rate maintained for type Gd. there is no default exchange rate type

48. you can clear open items only when they have samea. business area, amount, opposite dr/cr indicator and same entry in fields that

are configured for auto clearingb. amount, opposite dr/cr indicatorc. business area, opposite dr/cr indicatord. amount, opposite dr/cr indicator and same entry

49. foreign currency valuations on G/L accounts are performed on following accountsa. all accountsb. all accounts managed on open item basisc. all accounts managed on open item basis and all accounts with currency

different from local currency

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d. accounts managed on open item basis having foreign currency transactions and all accounts with account currency different from local currency

50. you can display account balance of several related accounts througha. account groupsb. sort keyc. worklistsd. totals variant

51. you run BA/PC adjustments fora. balancing BA level B/S for inter BA transactionsb. balancing company code level B/S for inter company transactionsc. posting adjustment entries for changed reconciliation accountsd. posting vendor/customer reclassification at BA level

52. fast entry screens in FI are used to entera. customer/vendor line itemsb. G/L line itemsc. C/V, G/L line itemsd. Invoice receipt against GR

53. easily entered document entry templates are calleda. sample documentsb. account assignment modelsc. work listsd. recurring documents

54. Posting keys are used to decidea. dr/cr indicator, field status of transaction screen, account typesb. dr/cr indicator, account typesc. dr/cr indicator, account types, field status of transaction screen, special G/L

applicabilityd. dr/cr indicatgor, field status of transaction screen, special G/L applicability

55. how many parallel currencies are possible and at what level they are assigneda. 2 local currencies, coab. 3 local currencies, coac. 2 local currencies, company coded. 3 local currencies, company code

56. when you reverse a posted document, document number must bea. internalb. externalc. internal/externald. manually assigned

57. financial statements can be generated ina. local currencyb. document currencyc. chart of account currencyd. any currency for which customization is done

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Document control

1.what are the most important control functions of the document type

2. if the user assigns the document number manually, this is _______no. assignment

3. ________nos. may be alphanumeric

4. every company code may define its own document types a) true b) false

5. every company code may define its own document no. range a) true b) false

6. at the beginning of a new fiscal year, the system always starts the document no. assignment again at the start of the no. range a) true b) false

7. document no. ranges must not overlap a) true b) false

8. how many no. ranges can be assigned to a document type simultaneously

9. what are the most important control functions of a posting key

10. name two elements that influence the field status of document fields

11. from following, state how the text field will be treated on document entry screena) if text is hidden per posting key, text optional as per field status group,

then _____ will be in document entry screenb) if text is optional as per posting key, text is required as per field status

group, then it will be a ______ in document entry screenc) if text is required as per posting key, text is hidden as per field status

group, then it will be an ______ in document entry screen

12. what are the standard posting keys for G/L account postings and on which side of the account do they post to

13. posting keys are defined at client level a) true b) false

14. the _____ group controls the field display during document entry

15. each ______ has a field status group

16. the posting period variant is assigned to the ____________.

17. a posting period variant must contain at least one line with the entry _____________

18. the account range in the posting period variant consists of ________

19. posting periods are opened and closed automatically a) true b) false

20. no more than two periods can be open at the same time a) true b) false

21. the authorization group in the posting period variant applies only to authorization for posting in special periods a) true b) false

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22. which of the following statements are true, when you are considering major controls of document types

a. the account types allowed for postingsb. the field status of header text and reference no.c. posting keysd. none of the above

23. which of the following statements are truea. posting keys are defined at client levelb. account types allow line item postings based on posting keyc. field status definition ‘suppressed’ and ‘required’ can not be combinedd. field status groups are variant principle

24. which of the following are true if we are using the same posting period variant for several company codes

a. opening and closing of periods to e done for each company codeb. we cannot use same posting period variant for several company codesc. we can maintain different special periods for each company code

25. which of the following statements are truea. we can open two period ranges during the time of closing processb. based on the document date entry, system will determine the posting period

and fiscal yearc. if you display the balances of an account, the transaction figures for the

posting periods are displayed

26. when ever an FI entry is made, we want document header text is required to be made mandatory. Customizing is available in account master and field status groups a) true b) false

27. it is not possible to see document currency and company code currency at the same time during document display option a) true b) false

28. document posting date, value date, base line date, system date, and due date in the entry screen of customer/vendor invoice are same a) true b) false

29. it is possible to define standard translation method of foreign currency in the posting key a) true b) false

30. system allows you to enter the date interval ‘from and to’ in case of foreign currency translation rate a) true b) false

31. one no. range can be assigned to several document types a) true b) false

32. ________ and ________ are two elements of FI document

33. document no. range can internal and _________

34. in case of _________ no. range, same document no. will be taken for a new fiscal year

35. one no. range can be assigned to several document types a) true b) false

36. one document type can have more than one no. range a) true b) false

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37. a field status within an FI document is controlled by three factors, viz.,

38. while posting a parked document, document no. is changed a) true b) false

Posting control

1. List some sources of values that are defaulted by the system for document entry

2. Name two possible ways to reverse a document

3. What are the two prerequisites that should be fulfilled in order to process the negative postings

4. Credit memos can be linked to invoices to ensure that invoice and credit memos are due on the same date a) true b) false

5. The day limits define the dates of cash discount periods a) true b) false

6. Every installment of an installment plan must have its own terms of payment a) true b) false

7. terms of payment is a field in the ______ and _______ of the customer master record

8. the __________ is the date that the system uses to determine the due date of the invoice

9. which cash discount accounts are used in the net procedure?

10. which cash discount accounts are used in the gross procedure?

11. name the two types of taxation that can be represented in the system

12. what data is required for the automatic account determination for tax amounts?

13. list two examples for cross company code transactions

14. a cross company code transaction consists of at least two documents a) true b) false

15. tax amounts of across company code transaction are automatically distributed to the company codes in which the expenses or revenues occurred a) true b) false

16. cross company code clearing accounts must be G/L accounts

17. the company code of a cross company code transaction may have different local currencies

18. describe the components the system uses to create cross company code transaction no.

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19. by mentioning base line date, cash discount periods and cash discount percentage rate in payment terms system will calculate

a. due date of invoice and cash discountb. due date onlyc. cash discount onlyd. none of the above

20.postings in a company code are done in G/L account ofa. consolidation coab. operative coac. country coad. all of the above

21. posting in a G/L account is controlled bya. account group of the G/L accountb. field status group in the coa segmentc. field status group in the company code segmentd. all of the above

22. payment terms are company code dependent a) true b) false

23. it is not possible to calculate the due date on fixed dates like end of month with days calculation a) true b) false

24. posting key is linked to field status in FI posting a) true b) false

25. negative posting is one method of document reversal a) true b) false

Clearing1. name 2 basic transactions that you can use to clear open items

2. documents with open items cannot be archived because open items represent incomplete transactions a) true b) false

3. a clearing document must have at least two line items a) true b) false

4. posting with clearing can be carried out for several accounts simultaneously a) true b) false

5. the posting keys to be used in the clearing document are defined in ‘clearing transactions’ a) true b) false

6. the automatic clearing program cannot carry out automatic postings a) true b) false

7. clearing a credit memo with an open invoice is an example of __________

8. posting a payment for an open invoice with a resulting zero balance is an example of ______

9. a _______ residual item clears the invoice and the payment to create a new open item

10. a ______ results in the open invoice and the incoming payment remaining in the customer account as open items

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11. the R/3 system generates the exchange rate differences automatically a) true b) false

12. G/L accounts must be defined for exchange rate losses or gains a) true b) false

13. list the no. of ways the G/L account can be determined for exchange rate differences

14. in processing open items (customer), you cana. activate or deactivate open itemsb. reverse the open itemsc. activate or deactivate the cash discountd. enter partial payments or residual items

15. using ‘account clearing’ function, choose a match those existing open items from an account that balance to zero. The system marks them as cleared and creates a clearing document. The clearing document no. and the clearing date is entered in the cleared open items. The clearing date can be the current date or a date that the user determines. State whether this statement is a) true b) false

16. the specification for permitted payment differences can be found in both types of tolerance groups. They control the automatic posting of cash discount adjustments and unauthorized deduction a) true b) false

17. all reconciliation accounts and all G/L accounts with open item transactions in foreign currency must be assigned to the revenue/expense accounts for realized losses and gains a) true b) false

18. clearing does not create any document in SAP a) true b) false

19. it is user defined where SAP will control open item selection a) true b) false

Special G/L transactions

1.all special G/L transactions are posted to G/L accounts a) true b) false

2. payment cannot be made by adjusting a special G/L transaction which is posted in G/L a) true b) false

3. down payment creates another entry without any links to the original entry a) true b) false

4. residual payment creates another entry keeping all entries open a) true b) false

5. it is not possible to create a due date for a down payment a) true b) false

6. SAP does not allow bill of exchange accounting a) true b) false

7. payment request clears the entries in AP/AR a) true b) false

Automatic payments

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1.List the five steps in the payment program

2. name the six areas into which the payment program configuration is divided

3. the _______ specify the accounts and documents that are to be included in the payment run

4. the payment program needs the __________ to determine whether an open item has to be paid now or in the next payment run

5. the sequence in which the payment methods are entered in the _________reflects their priority

6. all the company codes in the payment run parameters must be in the same country a) true b)false

7. a payment method can be used only if it is entered in the account master record a)true b)false

8. the payment proposal can be edited, deleted and recreated as often as necessary a)true b)false

9. the exception list is part of the payment proposal a) true b) false

10. in the payment process, automatic option to the users area. select open invoices to be paid or collected/post payment documentb. post payment documents/print print mediac. select open invoices to be paid/collectedd. post payment documente. print print media

11. which of the following are truea. any payment block can be removed in payment proposal editb. only line item payment block can be removed during payment proposalc. items that cannot be paid are detailed in the exception list

12. which of these statements on payment program are correcta. there are four steps in payment process i.e., parameters, proposal, program,

printb. once the parameters have been specified, the print program is scheduled to

generate print media

13. every run of the payment program is identified by two fieldsa. run dateb. identification

14. Which of the following statements are truea. the run date is recommended to be the actual date when the program is

executedb. the field ‘identification’ is used to run print program

15. which of the following statements are true (ref: print program-all codes area)a. sending company code and paying company code are same alwaysb. by specifying vendor/customer/special G/L transaction to be paid, we can

process special G/L transaction only

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c. by activating payment method supplement, we can print and sort payments

16. which of the following statements are true? (ref: payment program-bank determination area)

a. without ranking order, system will not process the paymentb. bank/payment method combination is must to define ranking orderc. without maintaining the value date in bank selection, system will not

process the payment

17. if we are using check management, which of the statements is truea. define check lot in order to print checksb. check lots are used only for automatic payments

18. all company codes in payment run parameters must be in same country a) true b) false

19. a payment method can only be used if it is entered in the account master record a) true b) false

20.the payment proposal can be edited, deleted and recreated as often as desired a)true b)false

21. exception list is a part of payment proposal a) true b) false

22. SAP cannot automate the payment method entry into the vendor invoice screen a)true b)false

23. partial payment creates another entry without any link to the original entry a)true b) false

24. it is not possible to use two check series for making payment a) true b) false

25. it is not possible to void unused checks a) true b) false

26. reversal of void check is a standard functionality in SAP a) true b) false

27. it is not possible to show the check with a value range by a user a) true b) false

28. payment to anybody by passing a G/L entry without AP/AR is a standard functionality of SAP a) true b) false

29. we cannot create manual checks for payment to business partners and update in the system a) true b) false

30. bank statement entry into SAP does the auto clearing a) true b) false

31. through bank statement entry, we can make entries like bank debits for bank charges, commission, etc. which will make a direct posting into G/L a) true b) false

32. payment to vendor of a specific bill cannot be blocked in SAP a) true b) false

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33. customer makes multiple check payments for one invoice and hands it over to the company which is running with all modules of SAP. It is not possible to enter in SAP by keeping all the check details and updating against an invoice a) true b) false

34. ____________ is the date from which the due date is derived

35. if customer invoice is created in SD, then payment terms from _________ segment will be defaulted

Automatic dunning1.list the four steps that have to be taken by the dunning program to perform the automatic dunning procedure

2. customers without dunning procedure in the master record are dunned with a default dunning procedure a)true b) false

3. if dunning areas are not used, dunning is performed at the company code level a)true b)false

4. it is possible to dun vendors as well as customers a)true b)false

5. the ‘run date’ is always the date when a certain dunning run is supposed to be started a) true b) false

6. the parameters specify the accounts and documents that are to be considered in the dunning run a) true b) false

7. list some reasons why overdue items might not be dunned

8. the dunning proposal consists of several steps. List the main steps involved in creating the dunning proposal

9. 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 a) true b) false

10. every dunning procedure must have at least four dunning levels a) true b) false

11. an account is only dunned if all the over due items have exceeded the minimum days in arrears a) true b) false

12. the dunning run updates the dunning data in the dunned items and accounts a) true b)false

13. a dunning notice is only sent if the dunning data has changed since the last dunning run, or if ‘always dun?’ is selected a) true b) false

14. after the dunning proposal has been created, changes to the dunning data in items or master records are ignored in the current dunning run a) true b) false

15. the dunning proposal can be edited, deleted, and recreated as often as required a) true b)false

16. one dunning form can be used for all dunning levels and dunning areas a) true b) false

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17. the dunning text for dunning level 6 is stored in text module 616 a) true b) false

18. the last dunning level is equal to the legal dunning procedure a) true b) false19. what is changed by the dunning run?

a. the date ‘last dunning run’ in the customer master recordb. the dunning level in the customer master recordc. the dunning level in the dunned documentd. the form specification in the customer master record for the next dunning

lettere. the dunning procedure for the next dunning run in the customer master record

20.when running the dunning programa. we can edit proposalb. we cannot delete proposalc. we can recreate the proposal until the dunning clerk is satisfied with resultd. after completing the dunning proposal list, dunning data is updated in master

records

21.which is truea. one time accounts cannot be dunnedb. we can assign two dunning procedures to customer master recordsc. dunning procedure can process only standard transactiond. interest can be posted at the time of dunning

22.the maximum dunning level can be defined in the dunning procedure isa. fourb. sixc. nine

23. an item whose days in arrears are smaller or identical to the grace period, dunning program will consider the item for dunning a) true b) false

24. which of the following statements are falsea. we cannot specify per dunning level that interest is to be calculatedb. we cannot print a dunning notice in a legal dunning procedure, although no

further account movements have occurredc. we can set a minimum amount for the dunning charges on each dunning level

25. what information does a dunning run changea. date of last dunning run in the customer master recordb. the dunning level in the customer master recordc. the dunning level in document for which dunning notices are createdd. from (layout set) specifications in the customer master record for the text in

the next dunning lettere. the dunning procedure in the customer master record for the next dunning run

Correspondence1.it is possible to get the report of customers created by user in a company code a)true b)false

Interest calculation

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1.account master data must contain an interest calculation indicator for interest calculation to take place a)true b) false

2. on a give account, R/3 cannot calculate different interest rates based on the amounts of balance or items a) true b) false

3. you can configure R/3 to calculate interest for customers or vendors that owe you money. You cannot calculate interest, however, if you owe your business partner money a) true b) false

4. name the two types of interest calculation in SAP R/3

5. what information do you need to create a new interest calculation indicator

6. which of these statements is truea. we can calculate interest on G/L accounts under interest on arrears methodb. each interest id must be assigned to interest calculation type

Country specifics1.name the three documents used in the payment process

2. what methods can you use to create checks? Name two ways of creating a check. Can you name the check printing program?

3. you can void a check without reversing the payment document a) true b) false

4. you can void a check and reverse the payment document at the same time a)true b)false

5. you can void a check and reverse the payment document and the vendor invoice all at the same time a) true b) false

6. what is a lock box

7. what are payment advice notes used for in the lock box process in R/3

8. list the four statuses that a check can have

9. you have to maintain customer bank details manually in the master record to ensure that as many incoming payments are assigned as possible

The financial statements1.Two steps to define financial statement versions are

a. enter it in the directory of financial statement versionb. define hierarchy levels and assign accounts

2. a financial statement version consists of maximum nine hierarchy levels a) true b) false

3. we cannot assign account group according to balance a) true b) false

4. drill down report is a tool that enables to analyze sub ledger transaction figures only a) true b) false

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5. individual value adjustment for doubtful receivables are possible througha. special G/L transactionsb. normal transactionsc. both of the above

6. to set up the financial statement version in your company, maximum limit is 9 a) true b) false

7. it is a real problem in SAP – in financial statement version – we are not able to find the G/L accounts which are not assigned a) true b) false

8. MIS reports based on financial books like ratios can be done through financial statement version a) true b) false

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Receivables and Payables1.the view maintained for vendor master data are

a. general data, company code datab. general data, company code data, purchasing datac. general data, company code data, business area datad. general data, company code data, business area data, plant data

2. group key assigned to vendor master records control the followinga. it is a combination of up to three fields based on which open invoices are

selected for automatic paymentb. basis for grouping several vendors for balance displayc. basis for classifying vendors for standard reportingd. it is a combination of up to three fields on which open invoices are selected for

manual payment

3. posting through a special ledger indicator affectsa. the main reconciliation account of vendor/customerb. alternative reconciliation account mapped to the main reconciliation of

vendor/customerc. alternative reconciliation account and main reconciliation account of

vendor/customerd. offsetting entry to main reconciliation account of vendor/customer

4. check management with respect to outgoing payments is possible for open items for

a. vendorsb. vendors and customersc. vendors, customers and G/L accountsd. vendors and G/L accounts

5. if you do not want to enter a document with provision for updating ledger on approval from authorized officials, you can use following functionality

a. parked documentb. sample documentc. account assignment modeld. recurring document

6. accounting for down payment request involvesa. statistical itemsb. parked itemsc. noted itemsd. regular items

7. business area is determined for accounting documents generated automatically from logistics module based on

a. plant-division combinationb. plant-division-distribution channel combinationc. plant-sales area combinationd. plant-division combination and sales area

8. when you carry out regrouping through AR/AP, following activities are performeda. reclassify where debtors have credit balance and vice versab. reclassify open items by remaining lifec. reclassify by changed reconciliation accountsd. all of the above

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9. when you carry out automatic payment, bank through which payment is effected is based on

a. ranking order of house banksb. house banks maintained for specific business areac. house banks entered in the parameters of the rund. ranking order and available balance in the accounts

10. payment needs to be made against invoice with payment blocks created during invoice verification. Payment block can be removed by

a. release block in MMb. changing field entry from invoice documentc. by reallocating in payment proposald. cannot be removed

11. in SAP, a bill of exchange receivable item is cleared duringa. discounting the billb. transfer posting with clearingc. reversal of contingent liabilityd. clearing of outstanding advance from the customer

12. in which of the following processes do the original invoices remain as open itemsa. residual paymentb. partial paymentc. charge off differenced. distribute difference

13. what are the different account types in SAPa. customer, vendor, G/Lb. customer, vendor, G/L, asset, materialc. customer, vendord. customer, vendor, asset

14. when several organizational units carry out dunning within a single company code, SAP entity used to distinguish and control the process is called

a. dunning procedureb. dunking keyc. dunning clerkd. dunning area

15. if you do not want to dun beyond a particular levela. use dunning key to limit the maximum levelb. use dunning block on vendor masterc. use dunning clerk to block dunningd. use dunning block on the dunning procedure

16. if you want to choose a different set of fields in a vendor account line item display, you choose a different

a. sort variantb. totals variantc. line layoutd. additional field

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Profit and loss1.Foreign currency valuation is possible

a. only on vendor/customer open itemsb. only on balance sheet items (G/L accounts)c. both of the above

2. when we are valuating open items, without update for reversal of the adjustment-posting after key date, user can define another posting date in place of key date + 1 a) true b) false

3. when we have regrouped the receivables/vendors, system carries out adjustment postings a) true b) false

4. allocating costs to FI through external settlement – the G/L is updated on line / real time a) true b) false

5. depreciation posting can be executeda. through batch input sessionb. direct FI postingsc. any one of the above

6. physical inventory is an MM/PP module transaction and hence no accounting entry is passed in G/L but real stock is adjusted in MM/PP a) true b) false

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KEY

mySAP Business Suite overview1. extend rather than replace2. a,b,c,d3. c4. business application programming interface5. false6. BW, CRM, APO, B2B, SCM, KW7. market place, work place

Navigation1. false2. a,d3. a,b,d,e,f4. a,e5. d6. true7. a,b,d,f8. between 2 and 6 sessions9. the function is called user list; code is sm0410. d11. a,b12. d13. presentation server; application server; database server14. /n15. system_menu16. F1

Overview of financial accounting1. a,b,c2. d3. c4. a,d5. false

Basic settings1. false2. calendar year: 01, K1, K2, K3, K4; year specific: AA,AM,RI,UL,WK3. I) if start and end date of posting periods differ from year to year; ii) if

one fiscal year has fewer posting periods than the other (shortened fiscal year)

4. inversion, base currency, exchange rate spreads5. currency keys6. M-average rate for posting and clearing; G-buying rate; B-selling rate7. a,b8. a,b9. c10. a11. a,b,c12. c13. client14. controlling area15. false

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16. four character17. false18. true19. company code, coa20. group21. client22. true23. purchasing, plant24. a. PO; b. GR; invoice verification25. operating concern26. true27. billing28. asset class29. depreciation30. true31. document line items32. external33. year dependent34. true35. client36. true37. true38. false39. true40. expense, revenue41. tax rate42. K,D43. true44. company, consolidated business area

Master records1. coa segment, company code segment2. hide, display, required entry, optional entry3. chart of accounts4. account group5. reconciliation accounts6. false7. false8. true9. false10. true11. true12. general data, co.code segment, sales area segment13. general data, co.code segment, purchasing organization segment14. false15. false16. internal17. centrally18. external; internal/external19. four (accounting information, payment transactions, correspondence

and insurance (customer account) or withholding tax (vendor account)20. a21. b,c,d22. a,b23. b

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24. a25. b26. a,c,d27. c28. b,c29. b,c30. b,c31. true32. true33. false34. true35. false36. true37. false38. false39. false40. true41. year dependent; year independent42. true43. c44. b45. c46. c47. b48. a49. d50. c51. a52. b53. b54. c55. d56. a57. d

Document control1. no. ranges for document nos.; account types permitted for postings2. external3. external4. false5. true6. false7. true8. you specify a no. range for each document type. One no. range can be

used for several document types9. determination of which account type can be posted to; side of the

account (dr/cr); the field status of additional details10. field status group, posting key11. hidden; required entry; error12. debit, posting key 40; credit, posting key 5013. true14. field status15. G/L account16. company code17. valid for all accounts

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18. G/L accounts19. false20. false21. false22. a,b23. a,b,c,d24. all false25. a, c26. false27. false28. false29. false30. false31. true32. document header, line items33. external34. year dependent35. true36. false37. ..38. false

Posting control1. user master records; parameter memory; system data; account master

record; accounting functions2. normal reversal posting; reversal by negative posting3. the company code must allow negative postings; the reversal reason

must be defined for negative posting4. true5. false6. true7. company code, sales area8. base line date9.10. cash discount clearing account; cash discount loss account11. cash discount revenue account; cash discount expense account12. taxation at national level; taxation at regional/jurisdictional level13. rules, posting key, tax accounts14. central purchasing; central payment15. true16. false17. false18. true19. the cross company code transaction no. is a combination of document

no. in 1st company code, first company code no., and the fiscal year20. a21. b22. false23. false24. true25. true

Clearing1. account clearing; post with clearing2. true

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3. false4. true5. true6. false7. account clearing8. posting with clearing9. residual item10. partial payment11. true12. true13. a single G/L account can be used for all currencies and currency types;

a single G/L account can be used per currency and currency type; a single G/L account can be used per currency; a single G/L account can be used per currency type

14. a,c,d15. true16. true17. true18. false19. true

Special G/L transactions1. true2. false3. true4. false5. false6. false7. false

Automatic payments1. maintain parameters; proposal run; editing proposal; payment run; printing payment media2. all company codes, paying company codes; payment method/country; payment method/company code; bank selection; house banks3. parameters4. next posting date6. payment parameters7. false8. true9. true10. a,b,c11. a,b,c12. a13. a,b14. a15. b,c16. b17. a18. true19. false20. true21. true22. false23. true

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24. false25. false26. true27. false28. false29. true30. true31. true32. false33. false34. base line date35. sales area

Automatic dunning1. maintain parameters; proposal run; editing the dunning proposal;

printing dunning notices2. false3. true4. true5. false6. true7. account not contained in parameters; items are within grace period;

items/accounts blocked for dunning; overdue amount < min amount; items can be cleared with overdue items on credit side; ….

8. account selection; line item dunning; account dunning9. true10. false11. false12. false13. true14. true15. true16. true17. true18. false19. a,b,c20. a,c21. a,b22. c23. false24. a,c25. a,b,c

Correspondence1. true

Interest calculation2. true3. false4. true5. account balance interest calculation; item interest calculation (interest

on arrears)6. a 2-character interest indicator and an interest calculation type. A

name for the interest calculation indicator is useful but not mandatory

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7. b

Country specifics1. vendor invoice; payment document; checks2. manual check; auto payment program-RFFOUS_C or RFFOD_S3. true4. true5. false6. service provided by banks to speed up collection and

processing of incoming payments7. they contain detailed information about an incoming payment.

Lock box program uses the information to clear open items on the customer account

8. assigned; partially assigned; on account; not processed9. false

The financial statements1. a,b2. false3. true4. false5. a6. false7. false8. false

Receivables and Payables1. b2. a3. b4. b5. a6. c7. d8. a,b,c,d9. d10. a11. c12. b13. b14. d15. a16. c

Profit and loss1. a,b,c2. true3. true4. true5. a,b,c6. false

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fico interview questions set 15

Technology

sap system

sap business object

sap easy access screen

context sensitive sap

system messages

database server

display of pictures

new dimension products