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 : A

Explanation

A General Ledger contains all the transaction details of a company. It acts as primary record to maintain all accounting details. Common general ledger entries are customer transactions, purchases from vendors, and internal company 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 - How many posting periods you can define in a fiscal year in controlling component CO?

A - 8

B - 16

C - 24

D - 32

Answer : B

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 - Which of the following transaction is used to define a document number range in document type?

A - FBN1

B - FS00

C - OB53

D - OBD4

Answer : A

Q 6 - In SAP FI, it is possible to block a customer account in AR so that postings are no longer made to that account. You have to block a customer account after marking a customer master record for deletion?

A - True

B - False

Answer : B

Explanation

You have to block a customer account before marking a customer master record for deletion.

Q 7 - While creating a vendor for a company code, which of the following field is used to determine payment details - immediately, after 7 days?

A - Recon account

B - Company code

C - Sort key

D - Payt terms

Answer : D

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

Q 10 - Which of the following report in AR account analysis, which of the following can be used to analyze customer open transactions company wise, group wise, Credit control etc. User can define open transactions criteria based on due date, Payment history, Currency analysis, overdue items etc.?

A - Customer Line Item Analysis

B - Balance Analysis

C - Customer Evaluation Report

D - All of the above

Answer : C

Explanation

T-code: F.30

This report will help to analysis customer open transactions company wise, group wise, Credit control etc. User can define open transactions criteria based on due date, Payment history, Currency analysis, overdue items etc.


sap_fico_questions_answers.htm

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