FI QUESTIONS:

FI- ORG.STRU-&- MASTER RECORDS.

1. Select the correct statement in respect of organizational structure of Client.
a. client is a highest organizational unit in R/3 structure
b. client is having own master data and tables
c. client is contains user master data.
d. client level data is applicable for all R/3 applications.
e. user must enter client key to access the master records.

2. Select the right statement in respect of company code.
a. Company code is the mandatory in R/3 structure.
b. a company code is an independent legal entity.
c. a company code is obliged to prepare financial statements under law.
d. generally separate company code is required per country.

3. Select the correct statements in respect of business area.
a. Business area also an org. structure created under company code.
b. business areas always need to be assigned to any one company code
c. business areas can prepare separate balance sheets.
d. until otherwise the use of business area is optional only.

4. Select the correct statements from the following.
a. each company code contains currency code.
b. the currency named in company code is named as local currency or home currency.
c. the other transactional currencies are translated into local currency.
d. each company code always assigned to company.
e. One company code can be assigned to many companies.
f. many company codes can be assigned to one company.

5. Select the correct statements from the following.
a. fiscal year is defined at company code level only.
b. fiscal year defines posting periods.
c. fiscal year may be a year dependant or independent.
d. fiscal year may be defined as shortened fiscal year also.

6. Select the correct statements in respect of the fiscal year definition.
a. fiscal year definition contains normal as well as special posting periods.
b. fiscal year defines maximum 16 posting periods only.
c. Independent fiscal year is always calendar year only.
d. year specific fiscal year has different posting periods.

7. Select the correct statement in respect of currencies.
a. each currency has validity period.
b. the relationship between currencies are defined through translation ratios.
c. we can use one base currency per each exchange rate type only,
d. we can use different tools like inversion, base currency exchange rate spreads in r/3 system.

8. Select the correct statement in respect of chart of accounts.
a .chart of accounts defined at company code level.
b. chart of accounts contains general ledger accounts.
c. chart of accounts needs to be assigned to company code.
d. one chart of accounts can be assigned to many company codes.

9. Select the correct statements in respect of chart of accounts.
a. chart of accounts needs to specify the maintenance of language in which it is to be maintained.
b. chart of accounts specify the length of general ledger account number.
c. chart of accounts specify the group chart of accounts to which it is linked.
d. chart of accounts can be blocked for further uses.

10. Specify the correct statement in respect of chart of accounts.
a. chart of accounts controls the length of gl account as maximum 10 digits always.
b. the creation of cost elements can be controlled through the definition of chart of accounts.
c. one chart of accounts can be assigned to many company codes
d. assignment of one chart of accounts is mandatory for each company code

11. Select the correct statements in respect of General Ledger Master Record.
a. general ledger master record contains two levels i.e. general data and company code data.
b. the master data lay out is determined by account groups.
c. chart of accounts data definition is must for creating company code data.
d. general ledger master record can sometimes created company code data before defining chart of account segment also.

12. Select the correct statement in respect of block of general ledger master record.
a. gl account can be blocked for either chart of account segment and company code data.
b. a gl account can be blocked for posting, planning purposes.
c. gl account master creation can be done through sample account also.
d. group account number is to be mentioned in company code segment while creating the general ledger account.

13. Select the correct statement from the following.
a. a chart of accounts can be operative chart of accounts, group chart of accounts and country specific chart of accounts.
b. a group consolidation of accounts group chart of accounts is always must.
c. country specific chart of accounts needs to be assigned to company code and have to mention the one to one account in chart of segment while creating the gl account.
d. a gl account is always defaulted by local currency while creation an account.

14. Select the correct statements from the following account groups.
a. we can define as many as account groups, however, we need to define at least two groups manditarily.
b. the number ranges of the account groups always overlapped.
c. the field status of the two segments of the master record will be decided by the account groups
d. the number ranges can be defined as external or internal for account groups.

15. Select the correct statements from the following in respect of creation of gl account.
a. a gl account can be created from copying from chart of accounts assigned to another company code.
b. a gl account can be created with sample document.
c. a gl account can be created first in company code and can be created centrally.
d. a gl account can be blocked for company code posting exclusively.



16. Select the correct statements from the following.
a. account groups in r/3 system are defined at client level any company code can use it.
b. in gl master record field status group is a mandatory field.
c. reconciliation account definition is needs to maintained at company code level only.
d. we can not post the transactions into reconciliation accounts directly.

17. Select the correct statements from the following.
a. open item selection need not necessitates for selection of line item display.
b. line item selection always prompt for selection of open item selection.
c. sort key is to sort the general ledger accounts as per the account groups.
d. accounts with local currency will allow the transactions only in local currency.

18. Select the correct statements from the following.
a. if the account currency is foreign currency, we can not post the transactions in any currency other than account currency.
b. we can change the master data in chart of accounts segment, company code segment at the same time.
c. reconciliation accounts are updated on daily basis
d. display of line item is always set for a gl account.

19. Select the correct statements from the following.
a. a document is a posted transaction in r/3 system, it is identified with document number company code, and fiscal year .
b. the document header data is controlled by document type however line items are controlled by posting keys.
c. a business transaction in r/3 system always creates more than one document.
d. every document type in my sap erp system contains one number range only.

20. State the correct statement from the following.
a. document types are defined at client level, however used to post the transactions at company code level.
b. document types controls the status of the reference number field of the header data only.
c. document types controls the account types to be transaction with.
d. each document type can have separate number range interval either the option for internal or external.

21. Select the correct statements from the following.
a. each document type can have same number range if you require, However, same number range can have different number range interval.
b. a document type controls the exchange rate type can be used with the document type.
c. a number range can be set for a document type each fiscal year wise only.
d. the document number ranges can overlap for the business transactions.

22. Select the correct statements from the following.
a. posting keys are defined at client level requires assignment at company code to post the business transactions either to debit or credit.
b. posting keys controls the field status for the line item level has always priority over the company code field status variant.
c. we need to assign the posting keys while posting the transactions through sap enjoy screen options.
d. posting key controls the account types and other special attributes if required.


23. Select the correct statement form the following.
a. we can assign field status variant to each gl account while creation.
b. one field status group can be assigned to all gl master records if required.
c. field status groups are to be assigned to company code to use in the company code.
d. sub ledger account field status are determined by the filed status group assigned to the sub ledger accounts.

24. Select the correct statements from the following.
a. posting period variants are defined at company code level, and need to assigned to company code.
b. we can open two posting period intervals in case of requirement.
c. we can control the account types while open and close the posting periods for a company code, however account type+ must for other account type controls.
d. generally the system will check the posting date with the posting period and fiscal year and allows the posting.

25. Select the correct statements from the following.
a. the tolerances are set up for company code level, and set in any currency if required.
b. the tolerances are set up at per document, per customer/vendor and user level as well.
c. tolerances can be set up for user group wise in the implementation project.
d. we can set the maximum cash discount while setting the tolerances at company code level.

26. Select the correct statements form the following.
a. default settings can be set as current date as posting date, company code for repeated transactions, posting key for document type.
b. parameter id can be set at company code and currency wise.
c. default settings can be set for user master wise also.
d. maximum exchange rate diff also can be set as default in the customization.

27. Select the correct statements from the following.
a. we can not change the header data fields in any environment once posted the document.
b. changeable fields can be a user specific during the implementation of a project
c. change rules can be set basing on account types, company code, transaction classes wise also.
d. debit/credit indicator of a document can also change if you require during the change document.

28. Select the correct statements from the following.
a. we can reverse gl document only either individually or mass reverse.
b. standard reversal need not require reason code assignment during the reversal of a document with standard reversal.
c. negative reversal can be done automatically by the user while reversing a document.
d. by default the system uses normal reversal for reversing the documents.
e. we can not reverse the document other than the posting date.

29. Select the correct statement form the following in case of negative reversal
a. a company code should permit the negative postings.
b. a document type also should permit the negative postings
c. separate reason code need to defined for negative reversals.
d. system default considers the posting date itself as reversal date.
e. we reverse the document even in the closed posting period also.


30. Select the correct statement from the following in respect of payment terms.
a. payment terms are defined at client level only.
b. we can set payment terms individually or collectively for vendor and customers.
c. payment terms contains cash discount periods and percentages.
d. base line date for calculation will be decided from payment terms.

31. Select the correct statement pertaining to payment terms.
a. payment terms can be assigned at three levels
b. credit memos attracts the same payment terms from the invoice related credit memos.
c. payment terms defaulted from other application components will prevail incase of invoices emanating from respective components.
d. day limit is the day upto which the terms will applicable, it contains the multiple payment terms.

32. Select the correct statements from the following.
a. payment method, and payment blocks mentioned in the payment terms defaulted to line item level always.
b. we can set different baseline dates as per the configuration requirement.
c. we can set as many as cash discount periods in the payment terms.
d. payment terms can be set in the definition of document type also.,

33. Select the correct statement from the following.
a. we can not define separate payment terms for holdback or retainage terms.
b. the hold back payment terms splits the invoices automatically if the same is assigned to line items.
c. the total installment share values always set as 100% maximum
d. we can set different payment terms for each installment payment terms.

34. Select the correct statement from the following.
a. tax procedure is always defined at company code level.
b. in sap R/3 system supports for two types of taxes for processing .
c. taxes can be levied at federal/country level and state/jurisdiction level.
d. condition types are used to calculate the taxes at country level.
e. account keys are used to determine the gl accounts automatically
f. tax codes are defined at country level.

35. Select the correct statement from the following in respect of tax codes.
a. it determines the tax type used for calculation,
b. tax codes are used to define the tax rates and gl accounts.
c. tax codes are either linked to country code or tax jurisdiction code always.
d. tax codes with jurisdiction codes are always date specific.

36. Select the correct statements from the following.
a. while cross company code transaction the system creates two entries with the same document number in the respective company code.
b. the cross company code document number is stored in the document header data.
c. generally the cross company code transactions, will not distribute the taxes to respective company codes.
d. we can not reverse the cross company code document.


37. Select the correct statement from the following. a document with open item can be archived after certain period in archiving rules.
b. a document with open item is considered as in complete document in my sap r/3 system.
c. the account balance will become zero in posting with clearing and account clearing.
d. posting with clearing can not be executed in several accounts with different currencies, and different account types simultaneously.

38. Select the correct statements from the following.
a. posting with clearing is always automcatically and account clearing always done manually.
b. posting a zero balance is considered as account clearing.
c. we can clear the open items by using automatic clearing basing on the specific configurations.
d. automatic clearing can not clear the noted items,

39. Select the correct statement from the following.
a. clearing document can not be reversed like normal documents.
b. partial payments will not clear the open item during the partial payment clearing.
c. residual clearing posts a separate document in case of residual clearing automatically.
d. residual clearing creates a document and posts the amount as payment differences if the configuration made accordingly.

40. Select the correct statement from the following in respect of clearing.
a. a payment in clearing may be a partial clearing.
b. a payment differences may be posted as a residual item.
c. payment differences can be posted to separate gl account if assigned with a reason code.
d. can be posted as payment on account.

41. Select the correct statement from the following.
a. a residual amount can be dunned with normal dunning or with separate dunning key.
b. a residual items can also attracts the same payment terms as same as cleared item or separate payment terms for residual items.
c. we can assign more than one reason codes to post the payment differences.
d. reason codes are used to post the documents for post process evaluations.

42. Select the correct statements from the following.
a. exchange rate differences will be calculated by the system automatically as gain or loss.
b. exchange rate diff account can be created for all currencies and currency types.
c. exchange rate diff account can be created per currency and per currency type also.
d. exchange rate diff account can be set individually per currency wise also.

43. Select the correct statement from the following in respect of cash journal accounts.
a. cash journal account can be created per currency wise.
b. during the implementation we can create as many cash journal accounts as required.
c. we need to create separate business transaction keys to use in cash journal account.
d. we can process the check receipts and special gl transactions through cash journal.

44. Select the correct statements from the following.
a. noted items are always single line account assignment not to be displayed in general ledger.
b. automatic offsetting accounts generally updates the general ledger but not a part of preparation of financial statements, however displayed as foot note to the balance sheet.
c. noted items can be included in the automatic payment programme or dunning programme.
d. special gl indicators are defined at client level and can be assigned to company code.