SAP FICO Online Quiz
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.
Q 1 - In SAP FICO system, which of the following is not a components under Finance Accouting?
Answer : D
Explanation
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?
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 - How many posting periods you can define in a fiscal year in controlling component CO?
Answer : B
Q 4 - In Field status group, field is available in screen, but it's grayed out, you cannot fill anything in here. This is known as −
Answer : D
Explanation
Suppress − The field is hidden in screen
Optional − The field is available in screen, you can keep it blank or fill it.
Require − The field is available in screen, and you have to fill it.
Display − The field is available in screen, but it's grayed out, you cannot fill anything in here.
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
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 6 - While archiving customer master records that you no longer need, which of the following deletion flag you can set?
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?
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 - Which of the following t-code can be used to post incoming payment?
Answer : B
Q 9 - Which of the following is not a category under Automatic Payment program?
B - Setup paying company codes
C - Payment method per country
Answer : E
Explanation
Automatic Payment Program serves the purpose of posting accounts payable like payment to a vendor based on vendor invoices automatically, shortly termed as APP.
It is used to find out due/overdue invoices and to process list of customer and vendor invoices to make payments in one go. APP can’t be used for all company codes from different countries.
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?
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.
