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Asset Accounting Quiz
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Asset Accounting Quiz

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Questions and Answers

What is added to the notes in the financial statement item section for the new account?

  • The balance of the new account is excluded from the calculation
  • The balance of the new account is added to the non-assignment section
  • The balance of the new account is not included in any section
  • The balance of the new account is included in the calculation (correct)

    • Which of the following is NOT defined when configuring asset classes?

  • Posting key
  • Transaction types
  • Account determination
  • Fiscal year variant (correct)

    • Which actions can you perform when editing a dunning proposal? (Select all that apply)

  • Change the payment method
  • Block an account (correct)
  • Lower the dunning level of an item (correct)
  • Raise the dunning level of an account (correct)

    • How does the system determine the correspondence type of a payment notice?

    <p>According to the tolerance group, if all reason codes are uniform</p> Signup and view all the answers

    Which statements accurately describe extension ledgers in SAP S/4 HANA? (Select all that apply)

    <p>Multiple extension ledgers can reference the same underlying ledger</p> Signup and view all the answers

    When posting integrated asset acquisitions in a system with three accounting principles, how many documents will be posted?

    <p>One document</p> Signup and view all the answers

    What does the 'non-assignment section' refer to when adding the balance of a new account?

    <p>It includes balances that are not assigned to any specific category</p> Signup and view all the answers

    Which of the following is a method to block a line item in a dunning proposal?

    <p>Blocking the account associated with it</p> Signup and view all the answers

    Which options are valid settlement receivers for an asset under construction on a line item basis? (Select two)

    <p>Profit center</p> Signup and view all the answers

    What are required checks during the year-end closing program in Asset Accounting? (Select two)

    <p>Depreciation is posted in full for all assets</p> Signup and view all the answers

    What steps are necessary to configure a new exchange rate type in SAP S/4 HANA? (Select two)

    <p>Specify a purpose for the exchange rate type</p> Signup and view all the answers

    Which organizational unit is recommended for cost of sales accounting?

    <p>Profit center</p> Signup and view all the answers

    Which field can be altered after posting an invoice?

    <p>Baseline date</p> Signup and view all the answers

    What types of items are NOT cleared by the automatic clearing program? (Select three)

    <p>Noted items</p> Signup and view all the answers

    Which field is mandatory when posting a supplier invoice to a primary cost account in cost of sales accounting?

    <p>Profitability Segment</p> Signup and view all the answers

    What aspect is shared between all deployment options for SAP S/4 HANA?

    <p>Core digital core functionality</p> Signup and view all the answers

    Which document dates are recognized as correct? (Select all that apply)

    <p>Document date</p> Signup and view all the answers

    How can the system be set up to accommodate both US GAAP and IFRS foreign currency valuations?

    <p>Define two valuation methods and assign the accounting principles to the new valuation methods</p> Signup and view all the answers

    In a general ledger account with a foreign currency setting of CAD, which currencies can you post to this account?

    <p>You can only post to the account in CAD and USD</p> Signup and view all the answers

    Which statements are valid for financial document number ranges? (Select all that apply)

    <p>Financial document number ranges are defined at company code level</p> Signup and view all the answers

    What are the maintenance levels of screen layout rules for asset master data? (Select all that apply)

    <p>Asset class</p> Signup and view all the answers

    What parameter indicates that a line can only be dunned with restrictions?

    <p>Dunning Block Reason</p> Signup and view all the answers

    Which of the following is NOT a correct statement about asset master data maintenance levels?

    <p>Accounting period</p> Signup and view all the answers

    Which currency can be used for posting in a scenario where the company's currency is USD and the controlling area currency is EUR?

    <p>Only USD and EUR</p> Signup and view all the answers

    What are some of the key settings for configuring document splitting? Select two correct answers.

    <p>Document number range</p> Signup and view all the answers

    Which setting must be adjusted to prevent the inventory number from being copied when creating a new asset via copy?

    <p>Remove the reference indicator</p> Signup and view all the answers

    What organizational unit must you create for each legal entity in an international business setting?

    <p>Company code</p> Signup and view all the answers

    For which account can you perform account clearing in SAP S/4HANA?

    <p>For any account that is managed on an open item basis</p> Signup and view all the answers

    Which parameters can you specify directly when creating a new correspondence type? Select three correct answers.

    <p>Reason code required</p> Signup and view all the answers

    Which part do you need to define for each step of the substitution in Financial Accounting?

    <p>The conditions for substitution</p> Signup and view all the answers

    What must be ensured when configuring document types in SAP S/4HANA?

    <p>Each document type should have a unique document number range</p> Signup and view all the answers

    Which indicator must be removed to prevent copying of sub-numbers when duplicating an asset?

    <p>Remove the subnumber indicator</p> Signup and view all the answers

    Which of the following are characteristics of payment notices sent to customers? (Select all that apply)

    <p>The type of payment notice sent to a customer</p> Signup and view all the answers

    What are two key features of the Accrual Engine in SAP S/4 HANA?

    <p>All currencies of the general ledger are supported</p> Signup and view all the answers

    Which benefits are associated with data handling in SAP S/4 HANA? (Select all that apply)

    <p>Data is aggregated on the fly from any line item table</p> Signup and view all the answers

    When defining a new document type for customer invoices in SAP, what is essential about the document number range?

    <p>It can include both internal and external number assignments that must be continuous</p> Signup and view all the answers

    What is the purpose of the period interval 3 when defining open and closed periods in SAP?

    <p>Posting to special periods</p> Signup and view all the answers

    Which fields influence the automatic payment program in a financial accounting document? (Select all that apply)

    <p>Terms of payment</p> Signup and view all the answers

    Which statement best describes the configuration of depreciation areas in SAP S/4 HANA?

    <p>Multiple depreciation methods can be defined within a single area</p> Signup and view all the answers

    Which of the following statements about posting to special periods is correct?

    <p>It allows for transactions to be recorded outside the regular fiscal year.</p> Signup and view all the answers

    Study Notes

    Asset Accounting

    • Valid settlement receivers for assets under construction include Cost Center and Fixed Asset.
    • Year-end closing checks in Asset Accounting include ensuring depreciation is fully posted and asset master data is complete.
    • When posting integrated asset acquisitions for multiple accounting principles, the system will create separate documents for each principle.

    General Ledger Accounting

    • To configure a new exchange rate type, specify its purpose and set up transaction ratios between currencies.
    • Extension ledgers in SAP S/4 HANA can have different currencies and fiscal year variants but can point to the same underlying ledger.

    Accounts Payable & Accounts Receivable

    • You can change the Special G/L indicator, Tax code, and Baseline date on a posted invoice.
    • Automatic clearing does not clear items associated with value-added tax, withholding tax, or noted items.

    Financial Closing

    • In cost of sales accounting, a mandatory field when posting supplier invoices to a primary cost account is the Profitability Segment.
    • Foreign currency valuation can be set up by defining two valuation areas linked to accounting principles.

    Organizational Assignments and Process Integration

    • The recommended organizational unit for cost of sales accounting is Profit Center.
    • For setting up separate legal entities, you need to create a Company Code for each entity.

    Document Management and Number Ranges

    • Financial document number ranges defined at the client level should not overlap, and they can contain both letters and numbers.
    • Document splitting settings include defining Document Type and Field Status Variant.

    Dunning and Payments

    • In dunning management, you can lower the dunning level, block an account, or raise the dunning level of an account.
    • The automated payment program is influenced by factors like Payment Type, Terms of Payment, and Payment Method.

    Configuration and Maintenance

    • When configuring depreciation areas, the settings must ensure they meet the requirements for financial reporting.
    • To prevent the inventory number from copying when creating a new asset, adjust the screen layout rules accordingly.

    Data Handling in SAP S/4 HANA

    • Benefits of data handling include real-time availability at line item detail and on-the-fly aggregation from line item tables.

    Special Periods and Settings

    • Period interval 3 is used for posting to special periods during financial closing procedures.

    Customer Invoice Posting

    • When defining new document types for customer invoices from non-SAP systems, you can use either internal or external number assignments, ensuring they are continuous.

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    Related Documents

    C_TS4FI_2021.pdf

    Description

    Test your knowledge on key concepts in Asset Accounting, particularly related to settlement receivers and year-end closing processes in SAP S/4 HANA. This quiz will cover important aspects such as cost centers, profit centers, and fixed assets, ensuring you are well-versed in accounting principles.

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