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 chart of accounts type contains all General Ledger accounts that are used to meet daily needs in a company?

A - Company Chart of accounts

B - Country Chart of accounts

C - Operating Chart of accounts

D - None of these

Answer : C

Explanation

It contains all General Ledger accounts that are used to meet daily needs in a company. Operating chart of accounts has to be assigned to a company code.

Q 3 - To effectively manage and control large number of G/L accounts, you can use Chart of accounts group?

A - True

B - False

Answer : A

Q 4 - What is the account type for a Vendor account in FI?

A - A

B - D

C - K

D - M

E - S

Answer : C

Explanation

A = Assets

D = Customers

K = Vendors

M = Materials

S = General Ledger Account

Q 5 - An Accountant has an authority to post documents to a maximum amount $4000, now he has to feed a document with an amount of $6000 for which he does not have the authority. Which of the following options allows an accountant to save the document but the amount is not posted in the G/L accounts?

A - Park a G/L Document Posting

B - Hold a G/L Document Posting

C - Post with Reference

D - None of these

Answer : A

Explanation

This allows to review the document later reviewed by higher authority Personnel who has appropriate posting amount authorization. Once approved, the document is posted in G/L accounts.

Q 7 - Which of the following can be used to display account balances of several related accounts?

A - Account Groups

B - Sort Key

C - Work Lists

D - Reports

Answer : C

Q 9 - While defining Exchange rates, In direct quotation, you give base currency to foreign currency as 1/65 USD = 1 INR?

A - True

B - False

Answer : B

Explanation

Exchange rates can be entered as direct or indirect quotations. In direct quotation, we give multiple of base currency to foreign currency.

Example − 1 USD = 65 * 1 INR

For indirect quotation, it will be 1/65 USD = 1 INR.

Q 10 - While considering integration in the SAP System, when an asset is purchased or produced in-house, you can directly post the invoice receipt or goods receipt, or the withdrawal from the warehouse to?

A - Financial Accounting

B - Plant Maintenance

C - Asset Accounting

D - Controlling

Answer : C

Explanation

It is possible to post from the Materials Management (MM) component directly to FI-AA. When an asset is purchased or produced in-house, you can directly post the invoice receipt or goods receipt, or the withdrawal from the warehouse, to assets in the "Asset Accounting" component. At the same time, you can pass on depreciation and interest directly to the "Financial Accounting" (FI) and "Controlling" (CO) components. From the "Plant Maintenance" (PM) component, you can settle maintenance activities that require capitalization to assets.


sap_fico_questions_answers.htm

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