SAP FICO Certification: Transaction Currencies and Parallel Currencies Quiz

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Questions and Answers

What properties are controlled by account groups?

Field status of master fields and number range

Field status of master fields, number range and whether accounts are P&L or B/S (correct)

Field status of master fields

Field status of transaction fields

Under what circumstances can transactions be posted to an account in any currency?

Account currency is different from company code currency (correct)

Account currency is same as local currency of the company code

Account currency is not maintained

Under all circumstances

To which type of retained earnings account can P&L account balances be carried forward automatically?

Multiple retained earnings accounts, through period end processing

Single retained earnings account, automatically (correct)

Multiple retained earnings accounts, automatically

Single retained earnings accounts, through period end processing

Which exchange rate type is picked up as default during FI document creation?

Exchange rate maintained for type ‘B’ Signup and view all the answers

What conditions must be met to clear open items?

Business area, amount, opposite dr/cr indicator and same entry in fields that are configured for automatic clearing Signup and view all the answers

Which field statuses are controlled by account groups?

Field status of master fields and number range Signup and view all the answers

In foreign currency valuations on G/L accounts, which accounts are considered?

Accounts managed on open item basis having foreign currency transactions and all accounts with account currency different from local currency Signup and view all the answers

How can you display account balances of several related accounts?

Account groups Signup and view all the answers

What are BA/PC adjustments run for?

Balancing company code level balance sheet for inter company transactions Signup and view all the answers

What are fast entry screens in FI used to enter?

G/L, customer and vendor line items Signup and view all the answers

What are easily entered document entry templates called?

Sample document Signup and view all the answers

What are posting keys used to decide?

Dr/cr indicator, field status of transaction screen Signup and view all the answers

How many parallel currencies are possible and at what level are they assigned?

3 local currencies, company code Signup and view all the answers

When you reverse a posted document, what must the document number be?

Internal or external Signup and view all the answers

In which currency can financial statements be generated?

Any currency for which customization is maintained Signup and view all the answers

What views are maintained for vendor master data?

General data, company code data, purchasing data Signup and view all the answers

Study Notes

Account Groups

Account groups control properties such as field status and exchange rate types.

Transaction Posting

Transactions can be posted to an account in any currency under certain circumstances.

Retained Earnings

Profit and Loss (P&L) account balances can be carried forward automatically to a special type of retained earnings account.

FI Document Creation

The standard exchange rate type is picked up as default during FI document creation.

Clearing Open Items

Open items can be cleared if certain conditions are met.

Field Statuses

Field statuses, such as blocked or open, are controlled by account groups.

Foreign Currency Valuations

During foreign currency valuations on G/L accounts, only relevant accounts are considered.

Account Balances

Account balances of several related accounts can be displayed together.

BA/PC Adjustments

BA/PC adjustments are run for certain account types.

Fast Entry Screens

Fast entry screens in FI are used to quickly enter documents, such as invoices or payments.

Document Entry Templates

Easily entered document entry templates are called "document templates".

Posting Keys

Posting keys are used to decide how documents are posted, such as whether a document is a debit or credit.

Parallel Currencies

Up to three parallel currencies are possible, assigned at the company code level.

Reversing Documents

When reversing a posted document, the document number must be the same as the original document.

Financial Statements

Financial statements can be generated in any currency.

Vendor Master Data

Vendor master data is maintained in certain views.

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Description

Test your knowledge of SAP FICO with this quiz featuring questions about account groups and transaction currencies. Practice and prepare for your certification exam.

SAP FICO Certification: Account Groups and Transaction Currencies

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