16. SAP FI Certificate Question and Answer for APP, Dunning, correspondence

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451. Bank master records are created at the client level and can be assigned in all customer and vendor master files. (Determine whether this statement is true or false.)
A. True
B. False
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or

452. If a customer is also a vendor. the payment program can clear open items between the customer and vendor accounts. (Determine whether this statement is true or false.)
A. True
B. False
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453. Alternate payer or payee information entered at the client level of the master data takes priority over data entered at the company code level. (Determine Whether this statement is true or false )
A. True
B. False
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454. Which of the following steps are parts of the process of configuring the payment program? (Choose the correct answers)
A. Configure the paying company cades a
B. Configure the payment methods per company code
C. Configure the house banks
D. Configure the G/L account field status for document entry
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455. All of the company codes in the payment run parameters must be in the same country. (Determine whether this statement is true or false)
A. True
B. False
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456. Which of the following are possible reasons that an invoice would not be paid? (Choose correct answers)
A. The invoice has a Debit balance
B. An invalid house bank is selected
C. The discount period has expired.
D. The payment amount is less than the minimum amount specified for a payment.
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457. You can review the exception list before executing the payment proposal.
(Determine whether this statement is true or false)
A. True
B. False
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458. Which of the following activities does the system perform during the payment run? (Choose the correct answers)
A. The system exports a list of documents to be paid.
B. The System makes postings to the G/L and AP/AR sub ledgers.
C. The system clear the open items.
D. The system supplies the print programs With necessary data.
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459. After you complete the dunning run, you can print out the dunning notices immediately. (Determine whether this statement is True or false)
A. True
B. False
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460. There are four dunning program steps that Cari be performed during the automatic dunning procedure as f Arrange these Steps into the correct sequence
A. Maintain the parameters
B. Schedule the Dunning Run
C. Start the Dunning Printout
D. Change the Dunning Proposal
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461. Customers who do not have the dunning procedure in the master record are dunned using a default dunning procedure. (Determine whether this statement is true or false)
A. True
B. False
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462. It is possible to dun vendors as well as customers. (Determine whether this statement is true or false)
A. True
B. False
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463. Which of the following objects are available to the dunning program configuration?
Choose the correct Answers

A. Dunning Levels
B. Expenses or Charges
C. Minimum Amounts
D. Bank Selection
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464. You can define dunning charges for each currency. Dunning charges depend on the dunning level. (Determine whether this statement is true or false)
A. True
B. False
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464. Using parameters, you can specify which documents and accounts the system considers in a dunning run for company codes. (determine whether this statement is true or false)
A. True
B. False
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465. The run date is always the date when you are supposed to start a dunning run. (Determine whether this statement is true or false)
A. True
B. False
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466. Every outgoing invoice the system duns is overdue. But the system does not dun all the overdue outgoing invoices. (Determine whether this statement is true or false)
A. True
B. False
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467. What is the maximum dunning level that can be assigned to a dunning procedure? (choose the correct answer.)
A. 1
B. 7
C. 9
D. 11
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468. You can prevent certain items for exceeding a certain dunning level by assigning dunning keys to them. (Determine whether this statement is true or false)
A. True
B. False
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469. List 5 reasons why the system might not dun overdue items.
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470. List the main steps involved in creating the dunning proposal.
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471. The payment terms of a credit memo usually do not apply and the due date is either the due date of the associated invoice or the baseline date of the document. (Determine whether this statement is true or false)
A. True
B. False
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471. Every dunning procedure must have at least four dunning levels. (Determine whether this statement is true or false)
A. True
B. False
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472. The system only duns an account if all the overdue items have exceeded the minimum days in the arears. (determine whether this statement is true or false)
A. True
B. False
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473. The dunning run updates the dunning data in the dunned items and accounts. (Determine Whether This statement is true or false)
A. True
B. False
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474. The system only sends a dunning notice if the dunning data changed since the last dunning run, or if always dun? Is selected. (Determine whether this statement is true or false)
A. True
B. False
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475. Which of the following lists support the dunning clerk’s work? (Choose the correct answers)
A. The dunning history list
B. The blocked account list
C. The dunning list
D. The list of the vendors balances in local currency
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476. After you create the dunning proposal the system ignores changes to the dunning data in the items or master records in the current dunning run. (Determine whether this statement is true or false)
A. True
B. False
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477. You can edit, delete and re-create the dunning proposal as often as you need to. (Determine whether this statement is true or false)
A. True
B. False
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478. Payment notice are a type of correspondence with the customer. (Determine whether this statements is true or false)
A. True
B. False
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479. Correspondence can be created online when you manually process payments or from the line item display. (Whether this statement is true or false)
A. True
B. False
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480. A document has several line items, with current reason codes entered, for an the automatic payment, which correspondence type does the system choose? (Choose the correct answers)
A. The one assigned to the tolerance group
B. The one in the first line item
C. The one in the line item with the largest amount.
D. The system prompts for the user to assign one.
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481.You can assign a business area to a company code.
(Determine whether this statement is true or false.
A. True
B. False
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482. What is a format of a company code Key?
Choose the correct Answer.
A. Two Digit alphanumeric
B. Four Digit alphanumeric
C. Six Digit alphanumeric
D. Eight digit alphanumeric
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483. What is the Name of the leading ledger that SAP provides with the standard system?
Choose the correct answer.
A. OL
B. 1L
C. 2L
D. 3L
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484. The variant principle is used in the SAP application to assign particular properties to one or more objects. How many steps does the variant principle have?
Choose correct answer.
A. 1
B. 3
C. 4
D. 5
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485. Which of the following is the first step in the Variant Principle?
Choose Correct Answer.
A. Define Variant
B. Define Value for the Variant
C. Assign the variant to the Object
D. Create multiple variant
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486. The Fiscal year variant contains the definition for the posting periods and special periods.
Determine whether this statement is true or false.
A. True
B. False
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487. The Fiscal year variant specifies a period as open or closed.
Determine Whether this statement is true or False?
A. True
B. False
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488. If the fiscal year differ from the calendar year, but the postings correspond to calendar months, then the day limit for February should be 29 to take leap years into consideration.
Determine whether this statement is true or false?
A. True
B. False
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489. When are year specific fiscal year variant used?

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491. Name Three commonly used exchange rate types and mention what they are used for:
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492. IN SAP ERP, currencies are defined using_______
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493. When using Financial Accounting (FI) with one accounting principle. All FI documents are posted in one general ledger.
Determine whether this statement is true or false.

A. True
B. False
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494. To set up the ledger approach, you need to define a non-leading ledger and assign the non-leading ledger to company codes.
Determine whether this statement is true or false.

A. True
B. False.
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495. When you create a ledger, you also need to create a ledger group in the SAP system manually. Determine whether this statement is true or false.
A. True
B. False
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