SAP FI Self-Test Questions and Answers #4

These are just simulated Financial Accounting Questions to self-test your knowledge.
 
1. Consider the following statements:
 
1.1. Secondary cost elements area used in production that are produced from outside the
company.
 
1.2. Cost elements are indicators, used as a basis for allocations and for performing key figure
analysis.
 
1.3. Cost centers are the organizational units that incur and influence costs.
Which of the above sentences is true (Please choose the correct option)?
 
a) 1.1.
b) 1.2.
c) 1.3.
d) all of them.
e) none of them.
 

2. What can you say about the standard hierarchy (Please choose the correct option)?
 
a) It is the top of a Profit Center group, which all Cost Centers/Profit Centers may be assigned.
b) This is a representation of the board directors cost center.
c) It can be defined after creating cost centers.
d) It must be defined before creating cost centers.
e) Its name is defined after creating controlling area and it must follow certain SAP standard rules, as having the same name of the Controlling Area.
 

3. "During a fiscal year, you can only change the assignments of the organizational units company code, business area or profit center to a cost center if:
 
3.1. The currency of the new company code is the same as the currency of the old company code.
 
3.2. You have only posted planning data in the fiscal year.
 
3.3. The cost center is not assigned to a fixed asset, work center or HR master record.
Which of the above sentences are false (Please choose the correct option)?
 
a) 3.1 and 3.2. are correct.
b) 3.2 and 3.3. are correct.
c) 3.1 and 3.3. are correct.
d) 3.1, 3.2 and 3.3 are correct.
e) none of them.
 

4. Define Cost Center Category (Please choose the correct option).
 
a) It is allowed for only one cost center master data.
b) It is a CO object where costs are incurred.
c) It is an indicator in the cost center master data, which specifies the category for the cost center.
d) It is an indicator in the controlling area, which specifies what kinds of cost center can be entered.
e) It is an indicator in the chart of accounts, which specifies the category for the cost center.
 

5. Define Primary Cost Element (Please choose the correct option).
 
a) It is the object in CO module that correspond to the expense and revenue accounts in FI module.
b) It is the object in CO module that are used to record internal value flows like activity allocation, assessments and settlements.
c) It is the object in CO module that are used exclusively to identify internal cost flows and records revenues.
d) It is a revenue element, used in CO and it corresponds to a Balance Sheet Account in FI module.
e) It is a tracing factor that helps to classify the specific activities that are provided by one ot more cost centers within a company.
 

6. True or false?
 
6.1. The activity type category is used to determine whether and how an activity type is entered and allocated.

a) [ ] True. b) [ ] False.
 
6.2. The fixed value is only posted in the period in which it is entered.

a) [ ] True. b) [ ] False.
 
6.3. You can create your own list variants for collective processing.

a) [ ] True. b) [ ] False.
 
6.4.SAP recommends that you use the same number interval groups for CO actual and plan transactions.

a) [ ] True. b) [ ] False.
 
6.5. Validation has priority under Substitution.
 
a) [ ] True. b) [ ] False.
 

7. Splitting process can be divided in to following steps
7.1 Active split
7.2 Passive split
 
7.3 Legal split
7.4 Clearing lines/zero balance formation by document
7.5 Partial split
7.6 Total split
 
Choose the correct option:

a) 7.1, 7.3 and 7.5 are correct.
b) 7.2, 7.5 and 7.6 are correct.
c) 7.2, 7.3 and 7.4 are correct.
d) 7.3, 7.4 and 7.5 are correct.
e) 7.1, 7.2 and 7.4 are correct.
 

8. Consider the following statements:
 
8.1. Reposting line items creates CO documents which don't contain a reference to the FI document.
8.2. Commitments are payment obligations that are not entered into the accounts, but that lead to actual costs at a later date.
8.3. Purchase orders reduces the commitment values.
8.4. To directly allocate activity, create an activity type of the category 1 (manual entry, manual allocation).
8.5. You can reposting direcy activity allocations in periods and in the same period form 
 
Which the document to be adjusted originates.
Choose the correct option:

a) 8.1. and 8.5. are correct.
b) 8.2. and 8.3. are correct.
c) 8.2. and 8.4. are correct.
d) 8.1. and 8.3. are correct.
e) 8.4. and 8.5. are correct.
 

9. Which of the following are correct about periodic allocation?
 
a) Both Distribution & Assessment can be applied as a Periodic Allocation Technique in the New Ledger. However Periodic Reposting is not used.
b) Statistical Key Figure presently cannot be used as a Tracing Factor.
c) Distribution Generates a FI Document as an output.
d) A separate Assessment account needs to be defined for New General Ledger as a GL Account that is not a secondary Cost Element of category 42.
 

10. Which of the following statements is true (Please choose the correct option(s))?
 
a) The SAP R/3 system saves the information from the clearing cost center in totals records during a periodic reposting.
b) The cycle-segment method is used only for defining periodic reposting.
c) Independent cycles can be processed in parallel if they have the same allocation type.
d) You can process cycles in the same cycle flow group in parallel.
e) During distribution, the original cost elements are summarized into distribution cost
elements (secondary cost element category = 42).
 
---
 
Answers
 
1. C.
 
2. D.
 
3. D.
 
4. C.
 
5. A.
 
6. True or false:
 
6.1. True.
 
6.2. False. The TOTALS VALUE is only posted in the period in which it is entered. The fiscal year total is the sum of all the period values. The FIXED VALUE is carried over from the period in which it is entered to all subsequent periods of the same fiscal year. The fiscal year total is an average of the period totals.
 
6.3. True.
 
6.4. False. SAP recommends that you create different number interval groups for CO actual and plan transactions.
 
6.5. True. Validation has priority, or it is "stronger", than Substitution.
 
7. E.
 
8. C.
 
9. All of them

10. C.

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