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 - 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 - To create a stock outward movement material credit what is the posting key for this?

A - 70

B - 75

C - 89

D - 99

Answer : D

Explanation

Asset Posting Keys

Posting Key Description Debit/Credit
70 Debit Asset Debit
75 Credit Asset Credit

Material Posting Keys

Posting Key Description Debit/Credit
89 Stock Inward Movement Material Debit
99 Stock outward Movement Material Credit

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 - In SAP FI, you can post a vendor invoice in foreign currency so you can do currency analysis. If you post in FI, you can directly post back date invoices?

A - True

B - False

Answer : A

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.

Answer : D

Explanation

Following are key submodules of SAP controlling system −

  • Cost Element Accounting
  • Cost Center Accounting
  • Activity-Based-Accounting
  • Internal Orders

Product Cost Controlling −

  • Profitability Analysis
  • Profit Center Accounting
sap_fico_questions_answers.htm
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