SAP ERP EXAM 2 WITH ALL CORRECT & 100% VERIFIED
ANSWERS|ACTUAL COMPLETE EXAM|ALREADY
GRADED A+
___________ is concerned with recording the financial impacts of business processes as they are
executed. ✔Correct Answer-FINANCIAL ACCOUNTING
Which of the following is a key process in financial accounting? ✔Correct Answer-ACCOUNTS
RECEIVABLE ACCOUNTING
Which process is used to manage money owed by customers for goods and services purchased from
the company? ✔Correct Answer-accounts receivable acccounting
which process is concerned with recording data associated with bank statements? ✔Correct
Answer-bank ledger accounting
____________ are internal divisions of an enterprise that are used to define areas of responsibility or
to meet the external reporting requirements of an enterprise segment ✔Correct Answer-business
areas
which term refers to an ordered listing of accounts that comprise a company's general ledger?
✔Correct Answer-chart of accounts
which term represents what a company owns, such as cash, inventory of materials, and buildings?
✔Correct Answer-assets
which term represents what a company owes to others, including money owed to vendors and loans
from financial institutions? ✔Correct Answer-liabilities
which term represents the monies a company earns by selling its products and services? ✔Correct
Answer-revenue
Which term represents the costs associated with creating and selling products and services?
✔Correct Answer-expenses
Which element is not a part of the typical company code data in general ledger accounts?
✔Correct Answer-none of the above
which term is a general ledger account that consolidates data from a group of related subledger
accounts? ✔Correct Answer-reconciliation account
Which of the following records the impact of a transaction step on financial accounting? ✔Correct
Answer-financial accounting document
Which of the following is used to implement multiple ledgers and use each ledger for different
purposes? ✔Correct Answer-Parallel Accounting
which type of asset has a physical form ✔Correct Answer-tangible asset
, which type of asset has a non-physical form? ✔Correct Answer-intangible asset
Which of the following is used to report data needed to meet legal and regulatory requirements?
✔Correct Answer-Financial statement
Which of the following best describes the operative chart of accounts? ✔Correct Answer-Contains
the operational accounts that are used to record the financial impact of an organization's day-to-day
transactions
Which of the following is not a mode of acquiring an asset for a company? ✔Correct Answer-
selling equipment
All of the following are transaction types that occur during the life of an asset except ✔Correct
Answer-allocation
Financial statements can be generated from which of the following? ✔Correct Answer-Both
operative and country-specific COAs
Balance sheet accounts are grouped into which of the following categories? ✔Correct Answer-
assets, liabilities, equity
An organization can possess which of the following types of assets? ✔Correct Answer-Tangible,
Intangible, Financial
Tangible assets can include which of the following? ✔Correct Answer-computers, production
machinery, real estate.
What are the most common transaction types that occur during the life of an asset? ✔Correct
Answer-acquisition, depreciation, retirement
What are the primary ways in which an asset can be acquired? ✔Correct Answer-Internally by
production, externally by vendor, externally without a vendor
Which of the following are common depreciation areas used in the US ✔Correct Answer-Book
depreciation, Cost accounting depreciation, Legal depreciation, Special depreciation
reporting in financial accounting is broadly divided into which of the following two categories?
✔Correct Answer-displaying account information Generating financial statements
from which of the following can financial statements be generated? ✔Correct Answer-Operative
chart of accounts, Country-specific chart of accounts
what is true about a business area? ✔Correct Answer-It is a internal division of an enterprise, It
helps management monitor performance, It is used for external reporting
Which of the following are types of chart of accounts? ✔Correct Answer-Operative COA, Country
specific COA, Group COA
What does the COA data include? ✔Correct Answer-client segment, company code segment
ANSWERS|ACTUAL COMPLETE EXAM|ALREADY
GRADED A+
___________ is concerned with recording the financial impacts of business processes as they are
executed. ✔Correct Answer-FINANCIAL ACCOUNTING
Which of the following is a key process in financial accounting? ✔Correct Answer-ACCOUNTS
RECEIVABLE ACCOUNTING
Which process is used to manage money owed by customers for goods and services purchased from
the company? ✔Correct Answer-accounts receivable acccounting
which process is concerned with recording data associated with bank statements? ✔Correct
Answer-bank ledger accounting
____________ are internal divisions of an enterprise that are used to define areas of responsibility or
to meet the external reporting requirements of an enterprise segment ✔Correct Answer-business
areas
which term refers to an ordered listing of accounts that comprise a company's general ledger?
✔Correct Answer-chart of accounts
which term represents what a company owns, such as cash, inventory of materials, and buildings?
✔Correct Answer-assets
which term represents what a company owes to others, including money owed to vendors and loans
from financial institutions? ✔Correct Answer-liabilities
which term represents the monies a company earns by selling its products and services? ✔Correct
Answer-revenue
Which term represents the costs associated with creating and selling products and services?
✔Correct Answer-expenses
Which element is not a part of the typical company code data in general ledger accounts?
✔Correct Answer-none of the above
which term is a general ledger account that consolidates data from a group of related subledger
accounts? ✔Correct Answer-reconciliation account
Which of the following records the impact of a transaction step on financial accounting? ✔Correct
Answer-financial accounting document
Which of the following is used to implement multiple ledgers and use each ledger for different
purposes? ✔Correct Answer-Parallel Accounting
which type of asset has a physical form ✔Correct Answer-tangible asset
, which type of asset has a non-physical form? ✔Correct Answer-intangible asset
Which of the following is used to report data needed to meet legal and regulatory requirements?
✔Correct Answer-Financial statement
Which of the following best describes the operative chart of accounts? ✔Correct Answer-Contains
the operational accounts that are used to record the financial impact of an organization's day-to-day
transactions
Which of the following is not a mode of acquiring an asset for a company? ✔Correct Answer-
selling equipment
All of the following are transaction types that occur during the life of an asset except ✔Correct
Answer-allocation
Financial statements can be generated from which of the following? ✔Correct Answer-Both
operative and country-specific COAs
Balance sheet accounts are grouped into which of the following categories? ✔Correct Answer-
assets, liabilities, equity
An organization can possess which of the following types of assets? ✔Correct Answer-Tangible,
Intangible, Financial
Tangible assets can include which of the following? ✔Correct Answer-computers, production
machinery, real estate.
What are the most common transaction types that occur during the life of an asset? ✔Correct
Answer-acquisition, depreciation, retirement
What are the primary ways in which an asset can be acquired? ✔Correct Answer-Internally by
production, externally by vendor, externally without a vendor
Which of the following are common depreciation areas used in the US ✔Correct Answer-Book
depreciation, Cost accounting depreciation, Legal depreciation, Special depreciation
reporting in financial accounting is broadly divided into which of the following two categories?
✔Correct Answer-displaying account information Generating financial statements
from which of the following can financial statements be generated? ✔Correct Answer-Operative
chart of accounts, Country-specific chart of accounts
what is true about a business area? ✔Correct Answer-It is a internal division of an enterprise, It
helps management monitor performance, It is used for external reporting
Which of the following are types of chart of accounts? ✔Correct Answer-Operative COA, Country
specific COA, Group COA
What does the COA data include? ✔Correct Answer-client segment, company code segment
