BCSE ERP Financial Accounting (FI) 3

Question 1

What is 'parallel accounting' in SAP FI?

Accepted Answer

Maintaining multiple sets of books under different accounting standards (e.g., US GAAP and IFRS)

Answer

Running two SAP systems simultaneously

Answer

Processing two company codes at once

Answer

Generating reports in two currencies

Question 2

Which SAP FI transaction is used to display a vendor account balance?

Accepted Answer

FK10N

Answer

FD10N

Answer

FS10N

Answer

F110

Question 3

What does the SAP transaction F110 perform?

Accepted Answer

Runs the automatic payment program to process outgoing payments

Answer

Creates a new vendor master

Answer

Posts manual journal entries

Answer

Generates the balance sheet

Question 4

In SAP Asset Accounting, what is 'depreciation area'?

Accepted Answer

A valuation view that calculates depreciation according to a specific set of rules or accounting standard

Answer

A physical location where assets are stored

Answer

A cost center for asset maintenance

Answer

A GL account range for fixed assets

Question 5

What is the purpose of the SAP 'closing cockpit'?

Accepted Answer

To manage and schedule period-end and year-end closing activities

Answer

To monitor system performance during peak loads

Answer

To control who can log into the system

Answer

To run payroll processing

Question 6

Which document in SAP FI is used to reverse an incorrectly posted financial document?

Accepted Answer

Reversal document

Answer

Credit memo

Answer

Clearing document

Answer

Parked document