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

Q 1 - Which of the following is a smallest unit in an organization for which financial statements (profit-loss statement, etc.) can be generated?

A - A Company

B - Company Code

C - Functional area

D - Credit Control

Answer : B

Explanation

In SAP FI, a company can comprise of multiple codes, however it acts as a single unit for which financial statements are available. Company code is smallest unit in an organization for which financial statements (profit-loss statement, etc.) can be generated.

Q 2 - Which of the following is used to differentiate transactions that comes from different line of business in a company?

A - Business Area

B - Credit Control

C - Functional Area

D - General Ledger

Answer : A

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 can be maintained in GL account and defines the fields while posting to the GL account?

A - Field Status Variant

B - Field Status Group

C - Posting Periods

D - None of these

Answer : B

Explanation

Field status variant will have filed status groups. Filed status group is maintained in GL account and It defines the field’s while posting to the GL.

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 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 - 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 - 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

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 - 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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