The following SAP Asset Accounting MCQs have been compiled by our experts through research, in order to test your knowledge of the subject of SAP FI GL. We encourage you to answer these multiple-choice questions to assess your proficiency.
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1: The following Cost Accounting objects can be assigned to an asset:

A.   Valid activity type.

B.   Valid cost elements.

C.   Created valid cost centers.

D.   All of the above

2: You need only one account determination key to post asset values of all classes to different accounts in the different charts of accounts.

A.   False

B.   True

3: Consider the following when creating asset classes:

A.   The asset class is a selection criteria in all standard reports in Asset Accounting. The screen layout, tab layout and the field characteristics

B.   (required/optional/suppressed) of the asset master record can be set for the asset class.

C.   The assignment of asset numbers can be controlled by the asset class. T he asset class provides default values to all asset master records in the class.

D.   This way, the asset class functions as a sample master record, and makes it possible to create new asset master records simply and without errors.

E.   All of the above

4: Asset hi stow sheet is the most important and most comprehensive year end report or intermediate report

A.   False

B.   True

5: When you post with account assignment to an asset, the system determines the GiL account that is posted, based on the following things:

A.   The transaction type. [The transaction type identifies the type of business transaction. Using the transaction type, the system posts the transaction to the appropriate accounts of the given account determination].

B.   The account allocation key.

C.   The chart of accounts valid in the company code.

D.   All of the above

6: You can configure different types of Chart of Accounts in the ERP system. these are:

A.   Operating chart of accounts

B.   Group chart of accounts

C.   Country-specific chart of accounts

D.   All of the above

7: You need to assign more than one company code to one controlling area. Under what kind of a business scenario would you need to consider such a decision?

A.   Cross-company code transactions that MUST be processed in a controlling area

B.   Multilevel Product Cost Management across company codes

C.   Representation of intercompany processes, whereby producing and delivering plant are the same.

D.   Only A and B correct

8: If you have entered an incorrect document, you can reverse it, thereby also clearing the open items. With reference to 'document reversal', which of the following are true?

A.   A document can be reversed if it has no cleared items

B.   Documents in MM can be reversed with a credit memo

C.   If the posting period of the source document has already been closed, you have to enter a date that falls in an open posting period (for example, the current one) in the Posting date field.

D.   Only A and C both are correct

9: You are responsible for 'dunning' configuration. Which of the following are part of configuring the dunning functionality?

A.   Dunning Codes

B.   Dunning Items

C.   Dunning areas

D.   None of the above

10: Which object has to be used to avoid a change of the reconciliation account in the customer's master data?

A.   The field status of the customer account group

B.   The field status of the posting key.

C.   The field status group of the reconciliation account.

D.   The field status of the activity

A.   Client

B.   Fiscal Year

C.   Company Code

D.   None of the above

12: Which of the following objects can you post to via the cash journal?

A.   Asset master

B.   Accrual Engine

C.   Customer

D.   Material master

13: Which of the following task types are supported by the Closing Cockpit or Schedule Manager?

A.   Spreadsheets

B.   Transactions

C.   Reconciliation keys

D.   None of the above

14: What are the prerequisites for setting up cross-company-code cost accounting?

A.   The same fiscal year variant is used for all company codes.

B.   The same currency is used for all company codes.

C.   The same variant for open periods is used for all company codes.

D.   None of the above

15: Your customer runs an SAP ERP system with New General Ledger Accounting activated. What do you need to do for Profit Center updates to be part of the general ledger?

A.   Activate transfer prices in Profit Center Accounting.

B.   Set up the same group currency for all company codes and profit centers.

C.   Deactivate document splitting for profit centers.

D.   Assign the Profit Center Update scenario to the ledger.