You can always have only one session open. Answer: False (You can create up to six sessions.

ns. Each
session is independent of the others.)

Which of the following is not part of the information required to log on to the SAP system? Answer: D
(You do not customize your settings until you are already logged on to the SAP system)

What menus are standard on all SAP screens? Answer: C (The System menu contains functions that
affect the system as a whole, such as Create session, User profile, and Log off. The Help menu
provides various forms of online help.)

WhichofthefollowingprovidesgeneralinformationontheSAPsystemand transaction or task you are

working on? Answer: A

In the SAP Easy Access menu,you can create a favorites list containing: Answer: D (Favorites can
consist of Web links, standard and customer transaction codes, and links too the files, such as Word
documents or PowerPoint files.)

List three types of online help that are available in the SAP system. Answer: Application Help, SAP
Library, Glossary, Release Notes,SAP Net, Feedback, Settings, F1, and F4.

A legal entity is represented by a company code in SAP. Answer: company code

Key business segments are represented by business areas in SAP. Answer: business areas

More than one company code can be assigned to a controlling area. Answer: True (In order for this
to occur, the company codes must have the same operating chart of account and fiscal year variant.)

To which chart of accounts must a company code be assigned in order for postings to occur? Answer:
C (A company code must be assigned to an operating chart of accounts. In addition, a company code
can be assigned to a country chart of accounts. The country chart is required for country-specific
reporting. An operating chart of accounts can be assigned to a group chart for consolidation
purposes.)

What are the two parts of a G/L account and what are the two reports that show those parts? Answer:
The two segments are the chart of accounts segment and the company code segment. The
chart of accounts report is a list of accounts for which the chart of accounts segment has been
created. The G/L account report is a list of accounts for which the company code segment has also
been created.
The account group is assigned a number range. This controls how the Company Code segment of a
G/L account is displayed on the screen. Answer: account group

Reconciliation accounts can be posted to directly. Answer: False You can post to are conciliation
account only through a sub ledger account.

The financial statement version determines the structure of a balance sheet and an income statement
report: This specifies which accounts correspond to which items in the report.Answer: financial
statement version

A document consists of two parts: a header and the line items. Answer: header, line items

There are two posting keys for postings to G/L accounts: 40 for debit postings and 50 for credit
postings. Answer: 40, 50

It is possible to drill down from an account balance to the line items that make up that balance for
all G/L accounts. Answer: False This is possible for G/L accounts for which the Line item display option
is activated in the master record.

A posting key allows posting to just one account type. Answer: True (The posting key supplies the
system with the information about which account has been posted to. G/L account, customer,
vendor, assets or materials.)

When a document is posted, a number is assigned to that document. This number comes from
number range assigned to the document type in the header of that document. Answer: document
type

In order for information to pass over to the controlling module when posting to an expense account
as part of an FI transaction, a cost element must exist for the expense account that is being posted
to. Answer: cost element

When a transaction is posted in FI, it automatically appears on the balance sheet. Answer: True (The
account must be assigned to an appropriate line item in the financial statement version used when
running the balance sheet. Otherwise, the posting will appear at the end of the financial statement
in a category called Accounts not assigned.)

Vendor Accounts are made up of two segments. What are they?Answer: General data, which exists
at the client level, and company code data, which is specific to a particular company code
There conciliation account can be found in the company code segment of the vendor master
record.Answer: company code

When creating a vendor master record, you can use the functionality of a reference vendor. What is a
reference vendor? Answer: A reference vendor is used to have default ed data come over when
creating a new vendor master record.

When using the Enjoy screen to do vendor postings in my SAP ERP Financial s, an information section
pops up when you enter the vendor number and choose Enter. What can we use it for?Answer:
Itcanbeusedtoviewormakechangestothevendormasterrecord while making a posting. You do not
have to open up a new session or exit the Vendor Posting screen. You can also link to open item sin
the vendor’s account.

TheprimarycostelementisusedinCOtoposttocostobjectsincontrolling. Answer: primary cost element

For postings to recur on a regular basis, the recurring entry program can be used to generate the
necessary documents. Answer: recurring entry program

The parameters for the payment program define which company codes, vendor sand invoices to
include in the automatic payment run. Answer: company codes, vendors, invoices

During the proposal stage of the payment program, you cannot make any changes to what SAP R/3
proposes to pay. Answer: False (Editing the payment proposal allows the user to make changes to
what the system proposes to pay.)

The two key organizational elements in MM are the plant , which is an operating area or branch with
in a company, and the purchasing organization, which negotiates conditions of purchase with
vendors. Answer: plant, purchasing organization

A complete vendor master record consists of three parts: general data, data on the Company Code
and data on the purchasing organization. Answer: general data, data on the Company Code, data on
the purchasing organization

When a purchase order is created, a financial document is also created.Answer: False (A financial
document is created when goods are received and when the invoice is received, but not when the
purchase order is created.)

In my SAP ERP Financials, one can post adjustments into special periods (such as periods1316)for
year-end closing adjustments. Answer: special
If the exchange rate has moved in your favor since a vendor invoice was posted, the following Debit
and Credit transaction is created by the foreign currency revaluation program:Answer: Debit: Balance
sheet adjustment account; Credit: Revenue from foreign currency valuation.

The regrouping payables program can be used for three purposes. What are they? Answer:
1)Regrouppayablesintothreecategoriesaccordingtoremaining life; 2) Move vendors with debit
balances to a different account; 3) Move balances from the old reconciliation account to the new
reconciliation account for vendors whose reconciliation account has changed.

The Account group defines the screen layout of the customer master record. The account group is
assigned a number range. Answer: Account group

The general data section of the customer master record must be created separately for every
company code that does business with that customer. Answer: False (The general data section exists
just once and contains data that pertains to all company codes.)

There conciliation account ties the posting of a customer to the general ledger.Answer: reconciliation
account

When a short pay for an incoming payment is processed using the partial payment method, the
invoice being partially paid is cleared and a new open item in the amount of the payment difference
is created. Answer: False This statement pertains to a residual item.

Miscellaneous invoices that do not pertain to a sales order can only be entered in AR using the Enjoy
document entry screen.Answer: False( Miscellaneous invoices can also be entered in AR using the
traditional Complex screen. In this case, posting key 01 is entered to debit the customer.0

You can run a report with up-to-date information at any time in the AR Information System. Answer:
False Youmustcreatetheevaluationsbeforerunningthereports. The information in the AR Information
System is only as current as the last time the evaluations were run via report RFDRRGEN.

How can you tell if a customer has been dunned? Answer: C (The system tracks dunning notices sent
by filling in the date and level of the last dunning notice sent in both the correspondence section of
the master record and in the document(s) dunned.)

A sales area consists of a sales organization,a distribution channel, and a division. Answer: sales
organization, distribution channel, division
When a delivery is initially created, accounting transactions are automatically generated. Answer:
False (The accounting transaction is not created until post goods issue occurs. At that point, cost of
goods sold is debited and inventory is credited.)

When the billing document is created in Sales Order Management, an accounting document that
debits the customer and credits revenue is automatically generated.

Answer: the customer, revenue

The organizational element that is required to maintain credit limits is the Answer: C. Company Codes
are assigned to credit control areas. In these credit control areas, the credit limits for the respectively
assigned Company Codes are maintained.

If the value of a sales order would put a customer over its credit limit, the sales order cannot be
created. Answer: False (Depending on the configuration of the credit management module, there are
choices as to what happens when credit limits are exceeded. It is very common for a sales order that
puts a customer over its limit to be saved, but the sales order is blocked for delivery.)

The limit that specifies that a single credit control area cannot have more than a certain amount of
the total limit is set up for a customer in which segment of the credit management master record?
Answer: B (General data contains information that pertains to all credit control areas, such as the
total limit allowed for all credit control areas and how much of that limit a single credit control area
can have.)

A value adjustmentkeymustbeenteredinacustomer’smasterrecordsothat customer can be included

in the valuation program to estimate bad debt expense. Answer: value adjustment key One can
create several value adjustment keys for various groups of customers. That way, accounts receivable
that are overdue for weak customers can be reduced by a higher percentage than for strong
customers.

The value adjustment program makes the following posting, which is cancel led at the beginning of
the next month. Debit: Reserve for bad debt. Credit: Value adjustment receivables . Answer: Reserve
for bad debt, Value adjustment receivables If this posting is not made, call up the corresponding
error batch session: F107 Name of Run.

When creating an asset master record, how is the asset number assigned?Answer: The asset number
is assigned by the asset class.

What does the account determination key do for the asset? Answer: It connects the asset to the G/L
account. The clearing account is linked to the account determination key in the configuration.

Every asset belongs to a Company Code. Answer: Company Code

What must we use to post to an asset in conjunction with the posting key? Answer: A transaction
type

A transaction type tells us where the posting is placed on the asset history sheet. Answer: asset
history sheet

What are the various methods with which acquisition sand retirements can be posted in Asset
Accounting? Answer: Without a vendor or purchase order, the offsetting entry is made to a G/L
clearing account. To a vendor, but without reference to a purchase order Via Material Management
by creating a purchase order

What is the purpose of the asset explorer? Answer: The asset explorer gives a clear overview of the
activity for an asset per depreciation area and fiscal year for planned values, posted transactions,
posted amounts, posted and planned depreciation, and depreciation parameters.

Depreciation is actually posted in asset accounting only after we do a depreciation run. Answer:
depreciation run

The asset history sheet gives us what type of information?Answer: The asset history sheet is a
complete evaluation for closing. It has groupings such as: Book values at the beginning of the year
Acquisitions Retirements Depreciation Adjustments Book values at the end of the year

For house banks ,the bank key is tied to a bank ID and the account is tied to an account ID.Answer:
bank ID, account ID

All bank accounts are represented by G/L accounts in SAP. Answer: True (Because of the term, bank
ledger, some people think that some bank accounts are sub ledger accounts. This is not true. There is
a hierarchy for the accounts of a bank, which consists of available cash accounts and clearing accounts.
However, these accounts are all G/L accounts.)

Before the details of a bank can be entered in a customer or vendor master record, that bank must

exist in the bank directory. Answer: False (You can create a bank on the fly by entering its details as it
is entered in the master record of a customer or vendor. The bank will then automatically appear in
the bank directory report.)

When we enter a transaction in the Cash payment stab of the cash journal, we are automatically
crediting the petty cash journal account. Answer: crediting
When we process the sub ledger session created when a check deposit list is posted, we credit the
customer. Answer: the customer

The tool that allows you to organize your closing activities is the schedule manager. Answer: schedule
manager

If there is a credit balance in the GR/IR account when the books are to be closed, the Regroup GR/IR
program moves that balance to an account called Goods Received but not Invoiced. Answer: Goods
Received but not Invoiced

In most cases, the functional area is derived from the cost center entered in a transaction. Answer:
True (Although there are other options to enter a functional area, substitution based on the cost
center is still the method used most often.)

In cost-of-sales accounting the cost of goods sold is subtracted from revenue to calculate the gross
operating profit. Answer: cost-of-sales accounting