SAP FICO Online Quiz


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Following quiz provides Multiple Choice Questions (MCQs) related to SAP FICO. You will have to read all the given answers and click over the correct answer. If you are not sure about the answer then you can check the answer using Show Answer button. You can use Next Quiz button to check new set of questions in the quiz.

Questions and Answers

Answer : B

Explanation

This includes the detail of amount that is paid by customer and the amount that is paid by company to the vendors. In other words AP includes all the vendor transactions and AR includes all the customer transactions.

Q 2 - Which of the following represent the list of GL accounts that are used to meet daily needs and country’s legal requirement in a company?

A - General Ledger

B - Chart of accounts

C - Credit control area

D - Company code

Answer : B

Explanation

The FI chart of accounts represent the list of GL accounts that are used to meet daily needs and country’s legal requirement in a company. The master chart of accounts must be assigned to each company code.

Q 3 - Which of the following Transaction code can be used to create a new G/L account?

A - FS00

B - OB53

C - OBD4

D - OB13

Answer : A

Q 4 - Which of the following is used to determine Account types (A, D, K, M, and S) and also the type of posting?

A - Posting Keys

B - Field Status group

C - Field status Variant

D - Posting Periods

Answer : A

Explanation

Posting Keys in SAP FI is used to determine Account types (A, D, K, M, and S) and also the type of posting. It is 2 digit numerical key.

Q 5 - What is the document type key to show a customer payment business transaction?

A - AA

B - AN

C - DZ

D - KA

E - DR

Answer : C

Explanation

Common Document types Key are −

Document Type Document Type Description
AA Asset Posting
AN Net Asset Posting
DR Customer Invoice
DZ Customer Payment
KA Vendor Document
KG Vendor Credit Memo

Q 6 - While archiving customer master records that you no longer need, which of the following deletion flag you can set?

A - All Area

B - Selected Company code

C - Selected Sales area

D - B and C

E - All of the above

Answer : E

Q 7 - There is a customer with an outstanding amount of 1500 and makes a payment of 500 then there will two separate open items of 1500 Debit and 500 Credit in FI system?

A - Posting Incoming Payments

B - Foreign currency invoice

C - Incoming Partial Payments

D - Incorrect payment invoices

Answer : C

Explanation

In SAP FI, you can also post partial payments from customer. These partial payments are posted as separate open items.

Customer can see clearly what all invoice has been issued to customer and what payments he has made. But it keeps the multiple open items, until the invoice is fully paid/ cleared.

Q 8 - Consider a case- you have an invoice # 23156 and this invoice will remain open till you receive a payment for this invoice. When a payment is received a new document is created # 50000678, when you enter the receipt and this document also becomes the clearing document. Now due to some error, when you have to reverse this payment document, which of the following can be used to perform this?

A - Outgoing Partial Payments

B - Withholding Tax in vendor invoice

C - Reset AP Cleared Items

D - Automatic Payment Program

Answer : C

Explanation

In SAP FI, you can clear vendor payment if an incorrect payment is made in Account Payables.

When you use this, the system will first reset the documents as open items and then reverse the document #.

Answer : D

Explanation

The dunning system covers below documents −

  • Open A/R invoices, including invoices that are partially credited or partially paid
  • Invoices that include installments
  • A/R credit memos
  • Incoming payments that are not based on invoices

Answer : C

sap_fico_questions_answers.htm
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