7/30/2019 123261426 TFIN52 Overall Review
1/16
FI/CO AcademyReview
Page 1 of 16
1. Which of the following is true for Organizational structuresMore than one answer is correct; mark true or false
a A client may contain more than one company code. T
b A company code can be attached to a company. T
c Company code characteristics include country, currency, and address. T
d Business areas can be assigned to more than one company code. F
e Creating a country version creates a country specific template company code. T
2. Which of the following functions represent the fiscal year.More than one answer is correct; mark true or false.
a Year independent requires knowledge of the exact opening and closing dates. F
b Each fiscal year variant is managed at the client level. Tc Special periods have calendar relevance. F
d The posting date for entry in special periods must be in the final normal
period.
T
e Year shift is only relevant for year dependent fiscal years. F
3. Select the true statement for general ledger account groups
More than one answer is correct; mark true or false.
a Assign number ranges T
b Assign accounts to the controlling area F
c Assign accounts to the company code F
d Assign accounts to business areas F
e Assigns the status of the fields in the company code segment of the masterrecord
T
4. Select the correct answers.Only one answer is correct, pick the correct answer.
a A business area is assigned to a company code
b A company code may be assigned to multiple credit control areas
c A company code may have more than one chart of accounts X
d A plant can be assigned to more than one company code
7/30/2019 123261426 TFIN52 Overall Review
2/16
FI/CO AcademyReview
Page 2 of 16
5. Which of the following is correct?Only one answer is correct, pick the correct answer.
a Currency is assign at the general chart of accounts level.
b The tax procedure for an operating company is assigned at the company code
chart levelc Account groups are chart of account dependent. X
d Postings can be made directly to a sub-ledger reconciliation account.
e General data for a GL account must be entered every time an account in theChart of Accounts is mapped to a company code.
6. Which of the flowing is true about Chart of AccountsMore than one answer is correct; mark true or false.
a A country chart of accounts can be assigned to the company code T
b A group chart of accounts can be used for consolidation reporting. T
c The country chart of accounts is assigned to the controlling area F
d A chart of accounts is made up of chart level and company code level data. T
e A group chart of accounts is assigned in the controlling area. F
7. Which of the following statements are correct about customer data
More than one answer is correct; mark true or false.
a General data is valid for all company code and sales areas. T
b The company code data must be created if you want to record accountsreceivable.
T
c The sales area data is used by the sales & distribution system. T
d Customer master data is created using an account group T
e The account group controls the field status for customer data. T
7/30/2019 123261426 TFIN52 Overall Review
3/16
FI/CO AcademyReview
Page 3 of 16
8. Which of the following is correct about documents?More than one answer is correct; mark true or false.
a A document type controls the document header data T
b The account group dictates number ranges and the screen layout for document
entry
F
c The document type controls the number assignment for a document. T
d The document type controls the account types allowed for posting. T
e The document type controls the posting rules for documents F
9. Which of the following is correct about posting periods?Only one answer is correct; pick the correct answer.
a Posting periods must remain open for the fiscal year
b Only one special posting period is allowed for each fiscal year.
c Posting periods are defined in the fiscal year variant. X
d During the time of year-end closing procedure only one posting period can be
open.
e Posting keys are assigned to the posting period variant.
10. Which of the following is correct regarding currencies.
More than one answer is correct; mark true or false.
a The relationship between currencies is maintained by exchange rate type. T
b Currency relationships are date independent. F
c Using direct quotation, a unit of local currency is quoted for the foreigncurrency
F
d Worklists can streamline and secure currency maintenance. T
e A currency key must be assigned to every currency used. T
7/30/2019 123261426 TFIN52 Overall Review
4/16
FI/CO AcademyReview
Page 4 of 16
11. Which of the following is correct?
More than one answer is correct; mark true or false.
a A primary cost element is related to a general ledger expense account. T
b Secondary cost elements are used only in controlling T
c Operational accounts are mapped to group accounts at the company codelevel.
F
d All P/L accounts must have an associated cost element. F
e Blocking can happen at the chart level or the account level. T
12. Which of the following is correct?
More than one answer is correct; mark true or false.
a The general ledger account has 3 segments. F
b Country accounts are mapped at the client level. F
c The company code level of a g/l account has 6 field groupings. T
d Accounts must be available at the client level before they can be created at thecompany code level.
T
e Account groups manage field status and document number ranges. F
13. Which of the following is correct?
More than one answer is correct; mark true or false.
a Accounts managed in a foreign currency can only be posted to in that
currency.
T
b Open item management should be set for P&L accounts. F
c Line item display should be set for reconciliation accounts. F
d The 3 charts of accounts are operating, group, and alternative. T
e The group chart of accounts is used for consolidation purposes. T
7/30/2019 123261426 TFIN52 Overall Review
5/16
FI/CO AcademyReview
Page 5 of 16
14. Which of the following is correct?
More than one answer is correct; mark true or false.
a A document is made up of two parts header and line item. T
b Posting key and account group determine the field status of a document. F
c Document types control account types charged, number ranges of adocument, and certain selected control parameters of a document.
T
d Posting key determines field status, account types charged and debit/credit
status of a line item.
T
e Field status groups are attached to company codes. F
15. When creating documents in FI, which of the following is true?
More than one answer is correct; mark true or false.
a A number range is assigned to each posting key that generates FI documents F
b Number ranges are assigned at the client level for FI documents F
c Document numbers in FI are year dependent. T
d You can lock an account so a document cannot be posted to it. T
e Document numbers cannot be externally assigned. F
16. Which of the following is correct?
More than one answer is correct; mark true or false.
a In validation, if pre-set conditions are not met, the system displays a user-
defined message as a warning, error or information message.
T
b Only one set of validation rules can be assigned to a cost center F
c You can substitute a cost center based on pre-defined conditions in the
substitution rule.
T
d In substitution if pre-set conditions are met a user-defined message can be
displayed.
F
e Validation and substitute rules are only performed when manually initiated in
the transaction
F
7/30/2019 123261426 TFIN52 Overall Review
6/16
FI/CO AcademyReview
Page 6 of 16
17. Which of the following is correct?
More than one answer is correct; mark true or false.
a Posting period control can be managed at the header or line item of
documents.
T
b Range interval 2 is only used for control of special periods. F
c Authorizations only apply to the period settings of range 1. T
d Posting periods are determined by settings in the fiscal year definit ion. T
e The plus sign at the header is a minimum requirement in the posting period
table.
T
18. Which of the following is correct?
More than one answer is correct; mark true or false.
a Changes can be made at the header or line item of a document. T
b Amounts of posted transactions can be changed, given the properconfiguration settings.
F
c Control of document changes are managed down to the account type, specialg/l indicator, and company code, if desired.
T
d Negative postings must be set at the company code and reversal reason, at aminimum.
T
e If negative postings configuration is not set, a standard reversal posting willapply.
T
19. With regard to tolerances, which of the following is correct?
More than one answer is correct; mark true or false.
a Tolerances are managed at the client level. F
b Tolerance group blank applies to everyone and should have lower limits. T
c Once a user has been assigned to a tolerance group, they must be maintainedin every company code that user is responsible for.
T
d Tolerances have settings for limits at the document level and also permittedpayment differences.
T
e Of tolerances for the user and tolerances in the customer/vendor master, themost restrictive wins.
T
7/30/2019 123261426 TFIN52 Overall Review
7/16
FI/CO AcademyReview
Page 7 of 16
20. Special G/L transactions represent unique business events.
More than one answer is correct; mark true or false.
a The 3 transactions are noted item, automatic offsetting entry, and free
offsetting posting.
T
b Free offsetting entry is considered to be a statistical posting. F
c Posting key settings must be managed to allow special G/L postings. T
d Postings are mapped to an open item managed account. T
e Noted items are one sided entries. T
21. The Accrual Engine is a new functionality that..
More than one answer is correct; mark true or false.
a Can have function modules created that will allow for non-linear accruals. T
b Has document types and accounts that are defined in configuration. T
c Must have application components activated to run. T
d Are used for the accrual of costs and revenues. T
e Overrides standard recurring entries. F
22. Which of the following is correct regarding the cash journal?
More than one answer is correct; mark true or false.
a Cash journal can be used in lieu of standard A/P and A/R transact ions. T
b Can have ad-hoc business transactions created at time of document entry. F
c Have document numbers independent of standard FI documents. T
d Cannot be used for one time account postings. F
e Has postings restricted by the standard FI posting period table. T
7/30/2019 123261426 TFIN52 Overall Review
8/16
FI/CO AcademyReview
Page 8 of 16
23. Which of the following is correct regarding payment terms?
Only one answer is correct, pick the correct answer.
a Payment terms are set up independently for A/R and A/P applications.
b Payment terms have the four date options of document, system, posting andclearing dates.
c Have four levels, in terms of discount days and percentages. .
d Can only be used with specific payment methods.
e Can be set for partial payments to break up the collection or payment. X
24. Which of the following is correct?
More than one answer is correct; mark true or false.
a Tax calculation procedures are attached to company codes. F
b The tax calculation procedure contains the order of the steps, conditions oftax, and the account keys for posting.
T
c Tax codes are date independent. T
d Account keys define rules for posting, identify G/L accounts, and detailposting keys.
T
e Can be included in the expense line or posted in a separate account. T
25. Regarding cross company code transactions:More than one answer is correct; mark true or false.
a Creates 2 documents one for the company codes and a linking document
number.
F
b Taxes are assumed by the originating company code, but can be distributed
via a program.
T
c Can be cleared using customer, vendor, or general ledger accounts. T
d The format of the cross company code number is the leading company code
document number and the leading company code only.
F
e Requires the use of posting keys when generating T
7/30/2019 123261426 TFIN52 Overall Review
9/16
FI/CO AcademyReview
Page 9 of 16
26. Which of the following is correct regarding clearing?
More than one answer is correct; mark true or false.
a Clearing transactions can be done manually or automatically. T
b Accounts to be cleared must be marked as open item managed. T
c Automat ic clearing can have up to three fields to base the clearing on. F
d Often refers to the sort key as a basis for clearing. T
27. Which of the following is correct regarding clearing payments?
More than one answer is correct; mark true or false.
a Can be cleared across many company codes, accounts, and account types. T
b Makes automatic postings for taxes, discounts, and exchange rate differences.. T
c When resetting, clearing history is maintained with the transaction for auditpurposes..
T
d Takes customer/vendor and user tolerances into account when posting. T
e Takes the most liberal tolerance amount when evaluating user vs.customer/vendor.
F
28. Which of the following is correct regarding payments?More than one answer is correct; mark true or false.
a Partial payments leave an open item on the account. T
b Require the use of reason codes for auditing purposes. T
c Can be charged off to a G/L account or back to the customer account. T
d Residual items can have either original posting date or a new payment term
when being posted
T
e Residual items create a new invoice and clear the old item. T
7/30/2019 123261426 TFIN52 Overall Review
10/16
FI/CO AcademyReview
Page 10 of 16
29. Which of the following is correct regarding reason codes?
More than one answer is correct; mark true or false.
a Reason codes can be configured to point to automatic charge-off accounts. T
b Can automatically generate letters based on reason code. T
c Is independent of credit management. F
d Are exclusively used for partial payments and residual items. F
e Can extend the customer discount to an unapplied account if within tolerance. F
30. Which of the following is correct regarding exchange rate differences?More than one answer is correct; mark true or false.
a Exchange rate differences are only recognized at the completion of a
transaction.
T
b Users can choose the difference account manually. F
c Can be differentiated by account, currency, and currency type T
d Are posted directly to the reconciliation account in question. F
e Are considered realized at the time of month end reporting. F
31. Which of the following statements is correct?
More than one answer is correct; mark true or false.
a Reconciliation ledger keeps track of cross company code cost allocations Xb Reconciliation ledger keeps track of cross business area cost allocations X
c Based on postings in the reconciliation ledger you may create General Ledgeraccounting entries to balance FI with CO
X
d Reconciliation ledger keeps track of Profit Center postings across companycodes
e Reconciliation postings use inter-company accounts to bring FI in balance forcross company code cost allocations
X
7/30/2019 123261426 TFIN52 Overall Review
11/16
FI/CO AcademyReview
Page 11 of 16
32. Which of the following statements is correct regarding special G/L indicators?
More than one answer is correct; mark true or false.
a The 3 classes of transaction are down payments, bills of exchange, and other
transactions
T
b Automatic offsetting entries are recorded in the body of the financial
statements.
F
c Noted items are one-sided and therefore arent considered by the payment
program.
F
d Since noted items are administered as A/R and A/P, line item display should
be turned on in the G/L account.
T
e Free offsetting entries are recorded as a note to the financial statements F
33. Which of the following statements is correct regarding document parking?
More than one answer is correct; mark true or false.
a When posting a parked document, a new document number is created. F
b Held documents have no document number assigned by the system. T
c Held and parked documents can be evaluated in reports. F
d Workflow can be assigned to manage parked documents. T
e Held documents are only available to the user who created them. T
34. Which of the following statements are correct regarding workflow?More than one answer is correct; mark true or false.
a Identifies business objects to be processed, who performs the steps, and what
are the steps of the process.
T
b Only considers multistep tasks. F
c Workflow variants must be assigned to a company code in configuration. T
d Can be sent to workplace or interfaced with external programs such as
Outlook.
T
7/30/2019 123261426 TFIN52 Overall Review
12/16
FI/CO AcademyReview
Page 12 of 16
35. Which of the following statements are correct?
More than one answer is correct; mark true or false.
a The payment program is a four step process parameters, proposal, payment
run, print.
T
b Each company code pays its own obligations based on configuration settings. T
c Customers can be paid using the A/P payment process. T
d Also evaluates special G/L transactions in addition to normal obligations. T
36. Which of the following statements are correct?More than one answer is correct; mark true or false.
a Purchase requisitions can create commitments for an internal order T
b The commitment is removed from a cost object based on the goods receipt T
c You can carry forward open commitment values into the first period of the
next fiscal year.
T
d POs can be made a two step process by marking invoice receipt in the
purchase order line item.
F
37. Which of the following statements are correct?
More than one answer is correct; mark true or false.
a Paying company code configuration identifies intercompany paymentrelationships.
F
b Payment method supplements allow additional print and sort options. T
c All company code configuration details the amounts for imcoming andoutgoing payments.
F
d Payment methods-country detail the print program to be used. T
e Payment methods-country give the option of standard print programs or usingthe payment medium workbench.
T
7/30/2019 123261426 TFIN52 Overall Review
13/16
FI/CO AcademyReview
Page 13 of 16
38. Which of the following statements on payments are correct?
Only one answer is correct; mark true or false.
a Payment methods-company code detail whether certain master record fields
will be checked during the payment process.b Payment methods-country detail the document types used when posting the
payments.
c Each payment method can only use one currency.
d Payment methods must be defined at the country level to be considered by the
relevant company codes.
X
39. Which of the following statements on payments are correct?
More than one answer is correct; mark true or false.
a Payments can be optimized by zip code or company code address. F
b Payments can be made in a different currency than what the invoice wasposted in as well as a different currency than the local currency.
T
c The ranking order of banks can be currency dependent or currencyindependent.
T
d Clearing accounts can be identified for balancing of incoming checkprograms
T
e Available amounts are updated after each payment run. F
40. Which of the following statements on payments are correct?More than one answer is correct; mark true or false.
a Each payment run is restricted to company codes in one country. T
b Payment methods are evaluated in the order entered. T
c Next payment date considers discounts to be taken based on configuration. T
d Proposals must be generated before the payment run can be executed. F
e Payment blocks entered in the payment run screen update the status of thedocument itself.
F
7/30/2019 123261426 TFIN52 Overall Review
14/16
FI/CO AcademyReview
Page 14 of 16
41. Which of the following statements on dunning is correct.
More than one answer is correct; mark true or false.
a Dunning procedure must be entered into the master record for a customer or
vendor to be considered.
T
b Dunning keys describe the limit of how many letters will be sent. T
c Each company code must send out its own correspondence. F
d Dunning areas are organizational objects that company codes are assigned to. F
e Charges for dunning are done on the combination of charge amount and
percentage.
F
42. Which of the following statements on correspondence are correct?
More than one answer is correct; mark true or false.
a A correspondence type represents a class of letter a company sends out. T
b Required settings in the type include requiring a document number, accountnumber, and the number of date fields.
T
c Each letter is based on SAPScript, and therefore cant be edited dynamically. F
d Calling correspondence can be restricted by business transaction. T
e Correspondence can be called automatically by certain posting transactions. T
43. Which of the following statements are correct?
More than one answer is correct; mark true or false.
a Interest can evaluated at the item level or the account level. T
b Balance interest can be evaluated on customer and vendor accounts as well as
G/L accounts.
T
c Reference interest rates supply a base interest rate which can then have a
premium additionally calculated.
T
d Interest indicators are entered into the master record for eventual calculation
based on configuration settings.
T
e Interest rates ore not date dependent inside of the interest indicator. F
7/30/2019 123261426 TFIN52 Overall Review
15/16
FI/CO AcademyReview
Page 15 of 16
44. Which of the following statements on check management are correct?
More than one answer is correct; mark true or false
a Voiding checks from a payment run will reverse the accounting entry as well. F
b Canceling a payment will void the check as well as reverse the accountingentry.
T
c A program can be run that imports cashed check information if print
programs set for check management were originally run.
T
d Void checks also require a reversal reason code. F
e Voided checks can be manually replaced. T
45. Which is correct in the following statements?
More than one answer is correct; mark true or false.
a Drilldown reporting is based on the ABAP programming framework. T
b The two types of drilldown reporting are forms and SAP Queries F
c SAP Queries represent a list format. T
d Forms can be a framework for reports T
e Reports must have forms created before creating the actual report output. F
46. Which of the following statements regarding financial statement versions are
correct?More than one answer is correct; mark true or false.
a Versions are dependent on the chart of accounts T
b Supplements contain accounts not assigned in the financial statement version. T
c The version key is a required entry when running financial statement reports. T
d The financial statement version validates the entries being reported in anyspecific version.
F
e All accounts must, at some point, have both the debit and credit entriescontained in the version.
T
7/30/2019 123261426 TFIN52 Overall Review
16/16
FI/CO AcademyReview
Page 16 of 16
47. Which of the following statements are correct?
More than one answer is correct; mark true or false.
a To transfer accounts receivable and accounts payable to Profit Center
Accounting you must run the calculate balance sheet adjustment.
T
b Accounts Receivable and Accounts payable values can be transferred to profitcenter accounting on-line.
F
c To report profits according to the cost-of-sales approach, you need to accessthe characteristic functional area.
T
d At year end you must carry forward the balances for balance sheet items thatwere posted to profit center accounting.
T
e Certain balance sheet accounts can be transferred periodically or online in
real-time to Profit centers
T
48. Which of the following is correct?More than one answer is correct; mark true or false.
a Asset classes are configured at the company code level. F
b Depreciation Areas hold the values calculated by different depreciation keys. T
c An asset can be created at time of document entry. T
d Mass processing for assets start from the reporting environment. T
e .Cross system transfer variants hold transfer values F