- SAP FICO - Home
- SAP FI - Overview
- SAP FI - Submodules
- SAP FI - Company Basics
- SAP FI - Define Business Area
- SAP FI - Define Functional Area
- SAP FI - Define Credit Control
- SAP FI - General Ledger
- SAP FI - COA Group
- SAP FI - Retained Earnings Account
- SAP FI - G/L Account
- SAP FI - Block G/L Account
- SAP FI - Deleting G/L Accounts
- SAP FI - Financial Statement Version
- SAP FI - Journal Entry Posting
- SAP FI - Fiscal Year Variant
- SAP FI - Posting Period Variant
- SAP FI - Field Status Variant
- SAP FI - Field Status Group
- SAP FI - Define Posting Keys
- SAP FI - Define Document Type
- SAP FI - Document Number Ranges
- SAP FI - Post with Reference
- SAP FI - Hold a G/L Document Posting
- SAP FI - Park a G/L Document Posting
- SAP FI - G/L Reporting
- SAP FI - Accounts Receivable
- SAP FI - Customer Master Data
- SAP FI - Block a Customer
- SAP FI - Delete a Customer
- SAP FI - Customer Account Group
- SAP FI - One-Time Customer Master
- SAP FI - Post a Sales Invoice
- SAP FI - Document Reversal
- SAP FI - Sales Returns
- SAP FI - Post Incoming Payment
- SAP FI - Foreign Currency Invoice
- SAP FI - Incoming Partial Payments
- SAP FI - Reset AR Cleared Items
- SAP FI - Credit Control
- SAP FI - Accounts Payable
- SAP FI - Create a Vendor
- SAP FI - Create Vendor Acct Group
- SAP FI - Display Changed Fields
- SAP FI - Block a Vendor
- SAP FI - Delete a Vendor
- SAP FI - One-Time Vendor
- SAP FI - Post Purchase Invoice
- SAP FI - Purchases Returns
- Post Outgoing Vendor Payment
- SAP FI - Foreign Currency Invoice
- Withholding Tax in vendor invoice
- SAP FI - Outgoing Partial Payments
- SAP FI - Reset AP Cleared Items
- SAP FI - Automatic Payment Run
- SAP FI - Posting Rounding Differences
- SAP FI - Month End Closing
- SAP FI - Dunning
- SAP FI - Exchange Rates
- SAP FI - Tables in Module
- SAP FI - AR Invoice Processes
- SAP FI - AR Account Analysis
- SAP FI - AR Reporting
- SAP FI - AA Overview
- SAP FI - AA Asset Explorer
- SAP FI - Cash Management
- SAP CO - Overview
- SAP CO - Submodules
- SAP CO - Cost Center
- SAP CO - Create Cost Center
- SAP CO – Post to a Cost Center
- SAP CO - Internal Orders
- SAP CO - Settlement of IO
- SAP CO - Profit Center
- SAP CO - Postings to Profit Center
- Profit Center Standard Hierarchy
- Assigning Cost to Profit Centers
- Assigning Materials to Profit Center
- SAP CO - Tables in Module
- SAP CO - Product Costing
- SAP CO - Profitability Analysis
- SAP CO - Planning Methods
- SAP FI - Integration
SAP FICO Online Quiz
Following quiz provides Multiple Choice Questions (MCQs) related to SAP FICO. You will have to read all the given answers and click over the correct answer. If you are not sure about the answer then you can check the answer using Show Answer button. You can use Next Quiz button to check new set of questions in the quiz.
Q 1 - In which SAP client can be used to configure STMS?
Answer : B
Q 2 - Which of the following chart of accounts type contains all General Ledger accounts that are used to meet daily needs in a company?
Answer : C
Explanation
It contains all General Ledger accounts that are used to meet daily needs in a company. Operating chart of accounts has to be assigned to a company code.
Q 3 - To post transactions to an account in any currency, account currency should?
A - Account currency is same as local currency of company code
B - Account currency is different from company code currency
Answer : A
Answer : C
Explanation
A = Assets
D = Customers
K = Vendors
M = Materials
S = General Ledger Account
Q 5 - An Accountant has an authority to post documents to a maximum amount $4000, now he has to feed a document with an amount of $6000 for which he does not have the authority. Which of the following options allows an accountant to save the document but the amount is not posted in the G/L accounts?
A - Park a G/L Document Posting
Answer : A
Explanation
This allows to review the document later reviewed by higher authority Personnel who has appropriate posting amount authorization. Once approved, the document is posted in G/L accounts.
Q 6 - You can reverse an incorrect document and can also clear the open items. A document can only be reversed?
A - It contains no cleared items
B - It contains only customer, vendor, and G/L account items
C - It was posted with Financial Accounting
D - All entered values (such as business area, cost center, and tax code) are still valid
Answer : E
Explanation
You can also reverse an incorrect document and can also clear the open items. A document can only be reversed if −
- It contains no cleared items
- It contains only customer, vendor, and G/L account items
- It was posted with Financial Accounting
- All entered values (such as business area, cost center, and tax code) are still valid
How to reverse a document in SAP FI?
T-code: FB08
Q 7 - There is a customer with an outstanding amount of 1500 and makes a payment of 500 then there will two separate open items of 1500 Debit and 500 Credit in FI system?
Answer : C
Explanation
In SAP FI, you can also post partial payments from customer. These partial payments are posted as separate open items.
Customer can see clearly what all invoice has been issued to customer and what payments he has made. But it keeps the multiple open items, until the invoice is fully paid/ cleared.
Q 8 - Consider a case- you have an invoice # 23156 and this invoice will remain open till you receive a payment for this invoice. When a payment is received a new document is created # 50000678, when you enter the receipt and this document also becomes the clearing document. Now due to some error, when you have to reverse this payment document, which of the following can be used to perform this?
Answer : C
Explanation
In SAP FI, you can clear vendor payment if an incorrect payment is made in Account Payables.
When you use this, the system will first reset the documents as open items and then reverse the document #.
Q 9 - While defining Exchange rates, In direct quotation, you give base currency to foreign currency as 1/65 USD = 1 INR?
Answer : B
Explanation
Exchange rates can be entered as direct or indirect quotations. In direct quotation, we give multiple of base currency to foreign currency.
Example − 1 USD = 65 * 1 INR
For indirect quotation, it will be 1/65 USD = 1 INR.
Q 10 - While considering integration in the SAP System, when an asset is purchased or produced in-house, you can directly post the invoice receipt or goods receipt, or the withdrawal from the warehouse to?
Answer : C
Explanation
It is possible to post from the Materials Management (MM) component directly to FI-AA. When an asset is purchased or produced in-house, you can directly post the invoice receipt or goods receipt, or the withdrawal from the warehouse, to assets in the "Asset Accounting" component. At the same time, you can pass on depreciation and interest directly to the "Financial Accounting" (FI) and "Controlling" (CO) components. From the "Plant Maintenance" (PM) component, you can settle maintenance activities that require capitalization to assets.