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 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 - Which of the following system is responsible for configuration of STMS?

A - QA system

B - SAP Landscape

C - Domain Controller

D - Production System

Answer : C

Q 4 - Which of the following is used to determine Account types (A, D, K, M, and S) and also the type of posting?

A - Posting Keys

B - Field Status group

C - Field status Variant

D - Posting Periods

Answer : A

Explanation

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 - What is the document type key to show a customer payment business transaction?

A - AA

B - AN

C - DZ

D - KA

E - DR

Answer : C

Explanation

Common Document types Key are −

Document Type Document Type Description
AA Asset Posting
AN Net Asset Posting
DR Customer Invoice
DZ Customer Payment
KA Vendor Document
KG Vendor Credit Memo

Q 6 - To manage quality defects and incorrect deliveries, which of the following can be used?

A - Document Reversal

B - Sales Return

C - Sales Invoice

D - Posting invoices

Answer : B

Explanation

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 - 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 - Which of the following t-code can be used to post incoming payment?

A - F18

B - F28

C - F38

D - F11

Answer : B

Q 9 - When a customer misses the payment for the outstanding invoice by payment due date, you can generate letter using SAP FI and send it to customer address for reminding the customer outstanding payment. This is known as?

A - Month end closing

B - Rounding Differences

C - Dunning

D - None of these

Answer : C

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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