LSCM 330 FINAL EXAM LATEST UPDATE 2025-
2026 WITH 77 QUESTIONS AND ACCURATE
VERIFIED ANSWERS GRADED A+
What connects General Ledger with subledgers, such as the A/P
subledger for vendor balances.
a. Gross price condition
b. Reconciliation accounts
c. Pricing procedure
d. Material discount
-Answer-b. Reconciliation accounts
Who are is the business partner that delivers goods or provides
services, or is responsible for delivering goods or providing
services?
a. organization
b. Vendor
c. Supplier
d. Third-party logistics
-Answer-b. Vendor
Which of the following statements takes place at the end of a
process of external accounting?
a. Create the reconciliation account in the general ledger.
b. Invoice for rental expenses.
c. Create balance sheet/ P&L.
d. Review vendor master record
-Answer-c. Create balance sheet/ P&L.
,Reconciliation accounts connect the general ledger with the
subsidiary ledger, which are maintained, for example, for
customers and vendors.
a. True.
b. False.
-Answer-a. True.
What process precedes creating the reconciliation account in the
general ledger?
a. Create vendor master record for landloard
b. Display and review gernal ledger account balances
c. Create back account in general ledger
d. Create new G/L account
-Answer-c. Create back account in general ledger
In the SAP system, you must create a master record for each
account you are posting and managing
a. True
b. False
-Answer-a. True
In the SAP system, business partners can be categorized as a
person, group, or organization.
a. True
b. False
-Answer-a. True
A vendor master record is the diverting data of the vendor.
a. True.
b. False
-Answer-b. False.
, What controls how business transactions are recorded and
processed in the SAP system?
a. Master data
b. Master record
c. Customer data
d. Account records
-Answer-b. Master record
Which of the following statements is false?
a. In the SAP System, postings in the subsidiary ledger are
posted simultaneously in the general ledger.
b. In the general ledger, reconciliation accounts are maintained
for each secondary accounting.
c. Totals from secondary accounting must be transferred to
General Ledger Accounting before the balance sheet creation.
d. None of the above.
-Answer-c. Totals from secondary accounting must be
transferred to General Ledger Accounting before the balance
sheet creation.
What is called the stored data that simplifies the processing of
business transactions.
a. master data
b. customer data
c. sales condition
d. master record
-Answer-a. master data
Which one of the following business partner represents a shared
living arrangement?
2026 WITH 77 QUESTIONS AND ACCURATE
VERIFIED ANSWERS GRADED A+
What connects General Ledger with subledgers, such as the A/P
subledger for vendor balances.
a. Gross price condition
b. Reconciliation accounts
c. Pricing procedure
d. Material discount
-Answer-b. Reconciliation accounts
Who are is the business partner that delivers goods or provides
services, or is responsible for delivering goods or providing
services?
a. organization
b. Vendor
c. Supplier
d. Third-party logistics
-Answer-b. Vendor
Which of the following statements takes place at the end of a
process of external accounting?
a. Create the reconciliation account in the general ledger.
b. Invoice for rental expenses.
c. Create balance sheet/ P&L.
d. Review vendor master record
-Answer-c. Create balance sheet/ P&L.
,Reconciliation accounts connect the general ledger with the
subsidiary ledger, which are maintained, for example, for
customers and vendors.
a. True.
b. False.
-Answer-a. True.
What process precedes creating the reconciliation account in the
general ledger?
a. Create vendor master record for landloard
b. Display and review gernal ledger account balances
c. Create back account in general ledger
d. Create new G/L account
-Answer-c. Create back account in general ledger
In the SAP system, you must create a master record for each
account you are posting and managing
a. True
b. False
-Answer-a. True
In the SAP system, business partners can be categorized as a
person, group, or organization.
a. True
b. False
-Answer-a. True
A vendor master record is the diverting data of the vendor.
a. True.
b. False
-Answer-b. False.
, What controls how business transactions are recorded and
processed in the SAP system?
a. Master data
b. Master record
c. Customer data
d. Account records
-Answer-b. Master record
Which of the following statements is false?
a. In the SAP System, postings in the subsidiary ledger are
posted simultaneously in the general ledger.
b. In the general ledger, reconciliation accounts are maintained
for each secondary accounting.
c. Totals from secondary accounting must be transferred to
General Ledger Accounting before the balance sheet creation.
d. None of the above.
-Answer-c. Totals from secondary accounting must be
transferred to General Ledger Accounting before the balance
sheet creation.
What is called the stored data that simplifies the processing of
business transactions.
a. master data
b. customer data
c. sales condition
d. master record
-Answer-a. master data
Which one of the following business partner represents a shared
living arrangement?
