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?
Q 2 - You can use fast entry screens in SAP FI to enter?
Q 3 - To post transactions to an account in any currency, account currency should?
Q 4 - Which of the following is used to determine Account types (A, D, K, M, and S) and also the type of posting?
Posting Keys in SAP FI is used to determine Account types (A, D, K, M, and S) and also the type of posting. It is 2 digit numerical key.
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?
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 - To manage quality defects and incorrect deliveries, which of the following can be used?
Sales Returns in SAP FI is used to manage full products that the customer has returned due to a complaint. These are used in consumer good industry.
All returns are related to quality defects and not incorrect deliveries. The path that the returned merchandise takes often has to be tracked in detail. Returned item has to be sent for inspection.
Q 7 - Which of the following can be used to display account balances of several related accounts?
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?
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 #.
Q 9 - Which of the following is not a category under Automatic Payment program?
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 - You can generate financial statements in any currency?