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 is used to differentiate transactions that comes from different line of business in a company?

Answer : A

Q 3 - Which of the following Transaction code can be used to create a new G/L account?

Answer : A

Q 4 - Which of the following can be maintained in GL account and defines the fields while posting to the GL account?

A - Field Status Variant

B - Field Status Group

C - Posting Periods

D - None of these

Answer : B

Explanation

Field status variant will have filed status groups. Filed status group is maintained in GL account and It defines the field’s while posting to the GL.

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

B - Hold a G/L Document Posting

C - Post with Reference

D - None of these

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

E - All of the above

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 - While creating a vendor for a company code, which of the following field is used to determine payment details - immediately, after 7 days?

Answer : D

Q 8 - In SAP FI, you can post a vendor invoice in foreign currency so you can do currency analysis. If you post in FI, you can directly post back date invoices?

A - True

B - False