The document discusses various concepts related to financial accounting in SAP. It covers topics like the vendor and customer master data, accounting documents, posting keys, number ranges, and financial statement generation. Key points include that the vendor master can contain data at multiple levels, the automatic payment program can process vendor and customer accounts, documents can be reversed, and financial statements can be generated for different organizational entities like company code and business area.

1. ACADEMY: FINANCIAL ACCOUNTING
FI PAPER – 13
1. The vendor master contains data at
a. general, company code and purchasing organization levels
b. general level only
c. company code only
d. general and purchasing organization levels only
2. posting using the special G/L indicator updates
a. sub ledger only
b. sub ledger and the general ledger accounts
c. general ledger account only
d. none of the above
3. the automatic payment program can be run for
a. vendor accounts only customer accounts only
b. vendor and customer accounts
c. all of the above
4. the document date
a. must be in the same period as the posting date
b. must be in a period higher than the posting date
c. must be in a period lesser than the posting date
d. can be in any period independent of the posting date
5. vendor invoices can be entered in
a. FI module only
b. MM module only
c. FI & MM modules
d. FI, MM and SD modules
6. When the automatic clearing program is executed, the base documents are
a. cleared and deleted from the system
b. cleared, deleted and archived from the system
c. cleared in the system
d. none of the above
7. where can the vendor master be created
a. centrally
b. in the MM module only
c. in the FI module only
d. all of the above
8. which of the following posting keys is relevant for accounting bills of exchange of a
vendor
a. 11
b. 21
c. 39
d. 19
9. which of the following are valid additional account assignments
a. project
b. allocation
c. payment term
d. none of the above
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2. ACADEMY: FINANCIAL ACCOUNTING
FI PAPER – 13
10. a residual item posting in the vendor’s account
a. generates a new line item
b. reduces the value in the original invoice line item
c. reverses the original line item
d. generates a parking document
11. what is the maximum permissible length of an internally generated vendor
number
a. 6
b. 10
c. 12
d. 18
12. house bank ids can be
a. alphabets only
b. numeric only
c. alpha numeric
d. any of the above
13. posting to an expense account needs
a. cost object assignment
b. a cost and revenue object assignment
c. revenue object assignment
d. none of the above
14. the customer master contains data at
a. general, company code and sales organization levels
b. general level only
c. company code only
d. general and sales organization levels only
15. in the standard system the posting key 25 refers to
a. credit to customer account
b. debit to customer account
c. debit to vendor account
d. credit to vendor account
16. the dunning program can be configured for
a. sending reminder letters only
b. sending reminder letters and creating debt provisions
c. creating debt provisions only
d. any of the above
17. when posting to a one time vendor or customer
a. it is not possible to store the address details
b. the address details have to be entered into the master before the transaction
is entered
c. the address details are entered as a part of the transaction
d. none of the above
18. which of the following sequences of creating master accounts is logically correct
a. G/L, bank, customer
b. Bank, customer, G/L
c. Customer, G/L, bank
d. None of the above
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3. ACADEMY: FINANCIAL ACCOUNTING
FI PAPER – 13
19. A down payment request makes
a. a noted item posting in the vendor or customer accounts
b. an actual entry in the customer accounts
c. an actual entry in the vendor accounts
d. an actual entry in vendor and customer accounts
20. where can the customer master be created
a. in the SD module
b. in the FI module
c. centrally
d. any of the above
21. which of the following posting keys is relevant for accounting guarantees received
from a customer
a. 01
b. 05
c. 09
d. 19
22. which of the following posting keys is relevant for accounting guarantees given to
a customer
a. 01
b. 05
c. 09
d. 19
23. which of the following posting keys is relevant for accounting bills of exchange of
a customer
a. 01
b. 05
c. 09
d. 19
24. interest calculation can be done for
a. vendor accounts
b. customer accounts
c. G/L accounts
d. All of the above
25. Incoming payments
a. can post and clear vendor and customer line items
b. can clear without posting
c. can post, clear and delete the base invoices
d. none of the above
26. what is the maximum possible length of an internally generated customer
number
a. 6
b. 10
c. 18
d. 24
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4. ACADEMY: FINANCIAL ACCOUNTING
FI PAPER – 13
27. what field on the customer master record controls whether we will accept an
incoming payment for less than the amount invoiced
a. sort key
b. tolerance group
c. payment method
d. bank key
28. what are the organizational entities for which the profit and loss statement and
balance sheet can be generated
a. company code and business area
b. company code and profit center
c. profit center and business area
d. cost center and profit center
29. which of the following statements is true
a. one company code can use multiple chart of accounts
b. one chart of accounts can be used by multiple company codes
c. one chart of accounts can contain only one chart of accounts
30. which of the following fields can be changed in the document change mode
a. allocation
b. posting date
c. document date
d. G/L account no
31. When a document is parked
a. the actual document number is generated but the document is not posted
b. a temporary document number is generated but the document is not posted
c. the document is posted with the actual document number
d. the document is posted with a temporary document number account number
32. what is the no. of periods available in a fiscal year
a. 12
b. 14
c. 16
d. 52
33. what is the maximum no. of line items allowed in an accounting document
a. 2
b. 50
c. 100
d. 999
34. which of the following statements is true
a. one document type can use only one number range
b. one document type can use multiple number ranges
c. one account can be posted to by only one number range
d. one number range cannot be used by multiple document types
35. what is the maximum permissible length of a G/L account number
a. 6
b. 8
c. 10
d. 18
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5. ACADEMY: FINANCIAL ACCOUNTING
FI PAPER – 13
36. the fields available for posting in a transaction are controlled through the field
status group at
a. posting key level only
b. posting key and G/L account levels
c. G/L account level only
d. None of the above
37. a parked document can be
a. modified
b. deleted
c. posted
d. all of the above
38. when is the business area level balance sheet self balanced
a. always
b. never
c. when the business area clearing closing procedure is run
d. when the materials management period closing is completed
39. what is the number of sub levels at which accounts can be grouped in the
financial statements version
a. 3
b. 6
c. 9
d. 12
40. which of the following is true
a. any accounting document can be reversed
b. only documents posted through the parking method can be reversed
c. only documents with external numbering can be reversed
d. only documents with internal numbering can be reversed
41. a transaction can span
a. multiple company codes
b. multiple business areas
c. multiple cost centers
d. all of the above
42. the currency for a document is determined for
a. the whole document
b. each line item
c. a group of line items
d. none of the above
43. the document currency
a. can be any currency
b. must be the company code currency
c. is the currency of the chart of accounts
d. must be the currency defined in the G/L master
44. the local currency of a transaction
a. can be entered by the user
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6. ACADEMY: FINANCIAL ACCOUNTING
FI PAPER – 13
b. is always the company code currency
c. is the currency of the chart of accounts’
d. is determined by the country field in the customer/vendor masters
45. what dictates whether a document line item requires a tax code
a. tax code in the vendor/customer masters
b. tax category in the G/L master
c. optional entry in every transaction
d. none of the above
46. what sort key is used to sort line items by document currency amount
a. 001
b. 003
c. 005
d. 006
47. an account with automatic posting only indicator can be posted from
a. FI module only
b. Specific modules other than FI
c. CO module only
d. HR & PP modules only
48. What is meant by the option open items management in a G/L account master
record
a. items on that account can never be cleared
b. items on that account can be cleared
c. no balances are available for that account
d. none of the above
49. what is meant by the option line item display in a G/L account master record
a. only line items can be displayed
b. only balances can be displayed
c. line items and balances can be displayed
d. none of the above
50. the automatic payment program
a. generates payment orders only
b. generates payment orders and accounting transactions
c. generates accounting transactions only
d. none of the above
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7. ACADEMY: FINANCIAL ACCOUNTING
FI PAPER – 13
KEY
1. A
2. B
3. A,B,C,D
4. D
5. C
6. C
7. A,B,C,D
8. C
9. A
10. A
11. B
12. D
13. A
14. A
15. C
16. A
17. C
18. A
19. A
20. D
21. D
22. C
23. C
24. D
25. A
26. B
27. B
28. A,B,C
29. B
30. A
31. A
32. C
33. D
34. A
35. C
36. B
37. A, B,C,,D
38. C
39. D
40. A
41. D
42. A
43. A
44. B
45. B
46. D
47. B
48. B
49. A
50. B
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