SAP FI Certification Questions With correct answers

Which statement supports the term "open item management" A. Items in accounts with open item management can only be indicated as open and not cleared B. Accounts with open item management must have line item display activated C. Once open item management has been activated it cannot be cancelled D. Open item management should be activated for bank accounts Which statement supports the term "open item management" B. Accounts with open item management must have line item display activated Which of the following statements support the definition of account group A. Determines in which number range the GL accounts number must reside B. Number intervals for GL accounts master record must be the same as used for accounts receivable and accounts payable C. When creating a new GL account, the account group is an optional entry D. The account group controls the appearance of the Chart of Accounts segment and Company code segment of a GL account Which of the following statements support the definition of account group A. Determines in which number range the GL accounts number must reside What is the maximum number of line items FI document can have A. Two B. 999 C. 1 D. 100 What is the maximum number of line items FI document can have B. 999 A period of a document is defaulted from A. Document Date B. Document entry C. Posting Date D. Base line Date A period of a document is defaulted by C. Posting Date What is the maximum number of special periods a company can have? A. Max 12 B. Max 4 C. Max 16 What is the maximum number of special periods a company can have? B. Max 4 Document type be assigned to A. Company code B. Client C. Plant Document type be assigned to A. Company code Cross company code documents generates A. more than one accounting document B. More than two accounting document C. Two accounting documents D. None of the statements is correct Cross company code documents generates C. two accounting documents Which type of currency will R/3 always track when posting a document A. Local currency B. Group currency C. Transaction currency D. Local and transaction currncy Which type of currency will R/3 always track when posting a document? D. Local and transaction currency Which statement supports that a non-open item account can be changed to open item A. It can be done if and only if B. The account should have a zero balance C. It can be done only if the account is line item managed D. It cannot be done Which statement supports that a non-open item account can be changed to open item B. the account should have a zero balance Can a non-Line item account be changed to line item A. It can be done only if the account is open item managed B. The account should have a zero balance C. It can be done even though account has balance D. It cannot be done Can a non-Line item account be changed to line item C. it can be done even though account has balance Chart of accounts is at which level A. Company code B. Client level C. Controlling area level D. operating concern level Chart of accounts is at which level B. Client level Account can be created at which level A. company code level B. Chart of accounts level C. At both the levels above stated C. Client level Account can be created at which level C. at both the levels stated above (company code and chart of accounts) Can a split rule be created? A. It cannot be created B. It can be created Can a split rule be created? B. It can be created We can re-print cheque without cancelling the original chequ number T/F We can re-print cheque without cancelling the original chequ number F We can calculate interest on bank GL account line item wise T/F We can calculate interest on bank GL account line item wise F We can assign one lockbox to more than one house bank T/F We can assign one lockbox to more than one house bank F