SAP FICO

FICO

1. Since the line item display takes up additional system resources,  you should only use it if there is no other way of looking at the line  items. So, you should not activate the line item display for the  following accounts (Note: we can have more than one correct sentence. Please select the sentences you think they are correct):

a) [  ]  P+L Statement.
b) [  ] Reconciliation.
c) [  ] Revenue.
d) [  ] Material Stock.
e) [  ] Tax.

2. Consider the following statements:

2.1. Accounts with open item management must have line item display activated.
2.2. You can activate or deactivate open item management everytime, even if the account hasnÂ’t a zero balance.
2.3. You can select both local and foreign currencies as account currency.
2.4. If the account is the local currency, the account can only be posted to this currency.
2.5. When using the “Only Balances in Local Currency” indicator in the master data record, transaction figures are only managed for amounts translated into local currency.

Which of the above statements are true (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
a) [  ] 2.1.
b) [  ] 2.2.
c) [  ] 2.3.
d) [  ] 2.4.
e) [  ] 2.5.

3. True or false?

3.1. The “Only Balances in Local Currency” indicator must not be set in reconciliation accounts for customers or vendors.
a) [  ] True.  b) [  ] False.

3.2. The “Only Balances in Local Currency” indicator is usually set in balance sheet accounts that are not managed in foreign currencies and not managed on an open item basis.
a) [  ] True.  b) [  ] False.

3.3. Accounts with a foreign currency as an account currency can be posted to any currency.
a) [  ] True.  b) [  ] False.

3.4. You can use a group chart of accounts for internal purposes.
a) [  ] True.  b) [  ] False.

3.5. The usage of a financial statement version for the group chart of accounts is optional.
a) [  ] True.  b) [  ] False.

4. What is the disadvantage of using the group chart of accounts  (Please choose the correct sentence)?

a) [  ] Because changes to existing G/L Accounts are effective as soon as they have been saved and could have extensive consequences.
b) [  ] Because accounts with the account currency as local currency can only be posted to this local currency.
c) [  ] Because the company codes use different operational chart of accounts, you cannot carry out cross-company code controlling.
d) [  ] Because the group chart of accounts must be assigned to each operational chart of accounts.
e) [  ] Because you must enter the group account number in the chart of acounts segment of the operational account.

5. Consider the following statements:

5.1. You cannot use the country chart of accounts if you desire to use the cross-company code controlling.
5.2. The disadvantage of using country chart of accounts is the accounting clerks who may be familiar with the country chart of accounts first have to get used to using the operational chart of accounts.
5.3. Reconciliation accounts are updated on a daily basis.