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Q 1 - Which of the following statement is correct about G/L accounts?
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 is used to differentiate transactions that comes from different line of business in a company?
Q 3 - How many posting periods you can define in a fiscal year in controlling component CO?
Q 4 - Which of the following can be maintained in GL account and defines the fields while posting to the GL account?
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 - To create a stock outward movement material credit what is the posting key for this?
Asset Posting Keys −
Material Posting Keys −
|89||Stock Inward Movement||Material Debit|
|99||Stock outward Movement||Material Credit|
Q 6 - In SAP FI, one time customer master record is required for customers?
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?
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?