A Credit Control Area can only be assigned to one Company Code (T/F)

1a

FALSE

1b

An Accounts Payable invoice has arrived from a vendor charging a cost centre for stationery. Which pieces of information have to be entered in order to post the invoice? a. Vendor number and invoice date. b. Sales order number and sales order date. c. Expense account and controlling cost object. d. Tax codes must be specified in the header and item of the document. e. Invoice amount excluding the tax.
2a

ADE

2b

Asset Classes define control parameters and default values for depreciation. (T/F)
3a

TRUE

3b

Credit Management Master record is made up of General Data

4a

Credit Control Area Data, and Purchasing Organisation Data. (T/F), False overview data rather than purchasing organization data
4b

Customer Master defines data at the Sales Organisation level (T/F)

5a

FALSE Sales area level

5b

Customer Master General data is stored at the Client level. (T/F)

6a

TRUE

6b

Describe the difference between a residual item and a partial payment in Accounts Receivable.
7a

with partial payment a single document is generated and paid down. with residual item 2 documents are created for each portion of payment.
7b

Each Asset belongs to a Company Code and Asset Area and is assigned to an Asset Class. (T/F)
8a

False each asset belongs to a company code and business area

8b

If a Vendor Master exist then all companies within the client can access the Vendor General Information. (T/F)
9a

TRUE

9b

Name the 4 Procurement processes related to accounting?

10a

1. goods receipt to warehouse (d material c - GR) 2. incoming bills (d - GR c - AP) 3. payment program (d - AP c - bank allocation) 4. account statement (d - bank allocation c - bank)
10b

Name the integration points between Sales Order Process and Accounting?
11a

goods issue invoice receive payment

11b

The creation of a purchase order in MM triggers the creation of an accounting to recognise the PO commitment. (T/F)
12a

FALSE

12b

The creation of a Sales Order results in a corresponding document created in Financial Accounting. (T/F)
13a

FALSE

13b

Transaction Type defines the type of Asset Posting. (T/F)

14a

false when you depreciate you have a posting key and transaction type
14b

What are the 2 options if there is a shortfall in a customer payment?

15a

partial payment residual payment

15b

What are the steps in the payment process?

16a

1. select payment method and bank 2. select items for payment 3. calculate the payment amount and discount periods 4. post the payment document 5. print payment medium
16b

What function is used to keep more than one valuation for an Asset?
17a

depreciation area

17b

What groupings of data is stored in the Vendor Master?

18a

general data company code settings purchasing specific

18b

What is a company code?

19a

the smallest entity at which accounting can be carried out

19b

What is a payment proposal and how are they used?

20a

Billing due list

20b

What is the last step in the sales process and what accounting entries are generated?
21a

receive payment d - cash, c- AR

21b

What is the main criteria for defining and asset and describe what it controls.
22a

asset class

22b

What is the purpose of the Asset Explorer?

23a

provides an overview of the assets

23b

What processes in Sales triggers the creation of documents in FI?

24a

goods issue invoice receive payment

24b

What triggers the posting of depreciation of an Asset in Asset Accounting and the General Ledger?
25a

depreciation run

25b