SAP FICO Multiple choice Questions & Answers

Posted On:January 18, 2019, Posted By: Latest Interview Questions, Views: 421, Rating :

Best SAP FICO Objective Questions and Answers

Dear Readers, Welcome to SAP FICO Objective Questions have been designed specially to get you acquainted with the nature of questions you may encounter during your Job interview for the subject of SAP FICO. These Objective type SAP FICO Questions are very important for campus placement test and job interviews. As per my experience good interviewers hardly plan to ask any particular question during your Job interview and these model questions are asked in the online technical test and interview of many IT companies. 

1. The length of G/L account number should be mentioned in

a. G/L account groups

b. G/L account

c. Chart of accounts

d. None of the above

Ans: C

Mcqs on SAP FICO

2. The G/L account becomes a complete G/L account

a. if we have added the company code segment to chart of account segment

b. if we have created both company code segment and chart of account segment centrally

c. if we have created chart of account

d. if we have copied the chart of account segment from other company code

Ans: A

 

3. If we are using the same chart of account in more than one company code

a. the company code segments are same in all company codes

b. the account name and account number is the same in all company codes

c. the currency in company code segment in all company codes is the same

d. the group account number is different in all company codes

Ans: B

 

4. The appearance of the company code segment of a G/L account is based on

a. account group entered in the chart of account segment

b. group account number entered in chart of account segment

c. assignment of group chart of account in chart of account

d. none of the above

Ans: A

 

5. The appearance of an account master data is based on

a. account number

b. field status

c. chart of account

d. none of the above

Ans: D

 

6. Creation of duplicate accounts in A/P can be prevented by using

a. the match code before creating the new account

b. sensitive dual control

c. switching on automatic duplication check

d. none of the above

Ans: A,C

 

7. Which of the following statements are true, when you are considering the major controls of document types

a. the account types allowed for postings

b. the field status of head text and reference number

c. posting keys

d. none of the above

Ans: A,B

 

8. Which of the following statements are true

a. posting keys are defined at client level

b. account types allow line item postings based on the posting key

c. field status definition ‘suppressed’ and ‘required’ cannot be combined

d. field status groups are examples of variant principle

Ans: A,C,D

 

9. By mentioning the base line date, cash discount periods, and cash discount percentage rate in payment terms, system will calculate

a. due date of the invoice and cash discount

b. due date only

c. cash discount only

d. none of the above

Ans: A

 

10. R/3 system contains

a. data base server only

b. application server only

c. presentation server only

d. all of the above

Ans: D

 

11. All data and programs are contained in

a. application server

b. database server

c. none of the above

Ans: A,B

 

12. SAP business object consists of

a. attributes

b. methods

c. attributes and methods

d. none of the above

Ans: C

 

13. Maximum number of sessions a user can open when he logs on to SAP

a. one

b. three

c. five

d. six

Ans: D

 

14. Fiscal year can be

a. year dependent

b. year independent

c. both year dependent and year independent

Ans: C

 

15. Fiscal year which is a calendar year can have

a. 12 normal periods

b. less than 12 normal periods

c. more than 12 normal periods

Ans: A

 

16. Shortened fiscal year can have

a. 12 periods

b. more than 12 periods

c. less than 12 periods

d. should have less than 12 periods

Ans: D

 

17. Company code can have

a. one local currency only

b. two local currencies

c. any no. of local currencies

d. none of the above

Ans: A

 

18. Postings in a company code are done in G/L account of

a. consolidation chart of accounts

b. operative chart of accounts

c. country chart of accounts

d. all of the above

Ans: B

 

19. Retained earnings account is

a. specific to company code

b. specific to client

c. specific to chart of accounts

d. none of the above

Ans: C

 

20. Which of the following statements is true

a. company can use indirect exchange rate only

b. company use direct exchange rate only

c. company can use both direct and indirect exchange rates

Ans: C

 

21. State which of the following is true in relation to SAP features

a. business areas are company code specific

b. business areas are assigned to company codes

c. business areas are used for reporting across company codes

d. none of the above

Ans: C

 

22. Posting in a G/L account is controlled by

a. account group of the G/L account

b. field status group in the chart of accounts segment

c. field status group in the company code segment

d. all of the above

Ans: C

 

23. Which of the following is true

a. company code can have one retained earnings account only

b. company code can have more than one retained earnings account

c. chart of accounts can have more than one retained earnings account

d. chart of accounts can have one retained earnings account only

e. none of the above

Ans: B,C

 

24. Which of the following is true

a. account group controls the document field status

b. account group controls the number range of G/L accounts

c. account group controls the master record field status

d. all of the above

Ans: 

 

25. Which of the following are correct with respect to your G/L account house bank name

a. the g/l account house bank name shall be the same as in the bank directory

b. the g/l account house bank name need not be the same as the bank’s name in the bank directory

c. the g/l account house bank name is user-definable

d. the g/l account house bank name is defined at the chart of account level

e. the g/l account house bank name is modifiable at the company code segment of the chart of accounts

Ans: C

 

26. The G/L account for a bank is linked to

a. a house bank

b. many house banks

c. one house bank p0lus one account id

d. one house bank plus multiple account ids in the same bank

e. many house banks and many account ids

Ans: A,C

 

27. One bank account is mapped in SAP to

a. account id

b. house bank

c. bank key

d. G/L account

e. Country plus bank key

Ans: A,B

 

 

28. Every company code can have following combinations as chart of accounts (COA)

a. one operating COA and many group COAs

b. many operating COAs and one group and one alternate CoA

c. one operating COA and one alternate COA

d. one operating, one group and one alternate COA

Ans: C,D

 

29. Each G/L account code in group COA can be mapped to following no. of account codes in operating COA

a. only one account code

b. maximum three account codes

c. many account codes

d. it cannot be mapped

Ans: C

 

30. Each account code in alternate COA can be mapped to following no. of account codes in operating COA

a. only one account code

b. maximum three account codes

c. many account codes

d. it cannot be mapped

Ans: A

 

31. Following fields form part of the chart of account segment of a general ledger account master

a. account currency

b. account group

c. field status group

d. option to state whether it is a balance sheet or profit and loss type account

Ans: B,D

 

32. Customer master has following segments

a. chart of account segment

b. general data segment

c. purchase organization segment

d. accounting data segment

e. sales organization data segment

Ans: B,E

 

33. The relationship between house bank and account id is the following

a. one to one

b. one to many

c. many to one

d. many to many

e. no relationship

Ans: A,B

 

34. Business area once defined is available for use to

a. all company codes in the client

b. all company codes in all the clients

c. only to the company codes to which the business area is assigned to

d. all company codes assigned to the company to which the business area is assigned

Ans: A

 

35. If a general ledger account is defined using a sample account, following data is referenced from the sample account

a. the control data in COA segment

b. only company code segment data

c. only account control and account management data in company code segment

d. entire master data

Ans: B

 

36. While creating a sample account, following information may be entered

a. only company code segment data

b. only COA segment data

c. both COA segment and company code segment data

d. only account control and account management data from company code segment

e. only control data of COA segment

Ans: C

 

37. A G/L account can be blocked for the following purposes

a. from creating in company codes

b. from posting in all company codes

c. from posting in selected company codes

d. cannot be blocked at all

e. if blocked, is blocked for all the purposes in all the company codes

Ans: A,B,C

 

38. Customer and vendors are defined in SAP at following level

a. at company code level

b. at client level

c. at controlling area level

d. at company level

Ans: B

 

39. Which of the following is true in terms of vendor and customer master

a. various account groups can have same no. range

b. one no. range can be allotted only to one account group

c. one account group can have only one no. range

d. one account group can have either external or internal numbering system

e. one account group can have one internal and one external numbering system

Ans: A,C,D

 

40. A customer account can be blocked for the following purposes

a. from creating in company codes

b. from posting in all company codes

c. from posting in selected company codes

d. cannot be blocked at all

e. if blocked, is blocked for all the purposes in all the company codes

Ans: B,C

 

41. 2. In the payment process, automatic options to the users are

a. select open invoice to the paid or collected, and post payment documents

b. post payment documents and print payment media

c. select open invoices to be paid or collected, post payment documents and print payment media

Ans: C

 

42. Which of the statements on payment program are correct

a. there are four steps in payment process: parameters, proposal program run, print

b. once the parameters have been specified, the print program is scheduled to generate the print

Ans: A

 

43. The maximum dunning levels can be defined in dunning procedure are

a. four

b. six

c. nine

Ans: C

 

44. Individual value adjustment for doubtful receivables are possible

a. through special G/L transaction

b. through normal transaction

c. both of the above

Ans: A

 

45. Foreign currency valuation is possible

a. only for vendor/customer open items

b. only balance sheet items (G/L items)

c. both of the above

Ans: C

 

46. Depreciation postings can be executed

a. through background processing (batch input session)

b. direct FI postings

c. any one of the above

Ans: C

 

47. Account groups are used to control the following properties

a. field status of transaction fields

b. field status of master fields

c. field status of master fields and number range

d. field status of master fields, number range and whether accounts are p&L or B/S

Ans: C

 

48. You can post transactions to an account in any currency only if

a. account currency is not maintained

b. account currency is same as local currency of the company code

c. account currency is different from company code currency

d. under all circumstances

Ans: B

 

49. You can carry forward P&L account balances to

a. Multiple retained earnings accounts, automatically

b. Single retained earnings account, automatically

c. Multiple retained earnings accounts, through period end processing

d. Single retained earnings accounts, through period end processing

Ans: C

 

50. Default exchange rate picked up during FI document is

a. exchange rate maintained for type ‘B’

b. exchange rate maintained for type ‘M’

c. exchange rate maintained for type ‘G’

d. there is no default exchange rate type

Ans: B

 

51. You can clear open items only when they have same

a. business area, amount, opposite dr/cr indicator and same entry in fields that

are configured for automatic clearing

b. amount, opposite dr/cr indicator

c. business area, amount and opposite dr/cr indicator

d. amount, opposite dr/cr indicator and same entry in fields that are configured for automatic clearing

Ans: A

 

52. Foreign currency valuations on G/L accounts are performed on the following accounts

a. all accounts

b. all accounts managed on open item basis

c. all accounts managed on open item basis and all accounts with account currency different from local currency

d. accounts managed on open item basis having foreign currency transactions and all accounts with account currency different from local currency

Ans: D

 

53. You can display account balances of several related accounts through 

a. account groups

b. sort key

c. worklists

d. totals variant

Ans: C

 

54. You run BA/PC adjustments for

a. balancing BA level balance sheet for inter business area transactions

b. balancing company code level balance sheet for inter company transactions

c. posting adjustment entries for changed reconciliation accounts

d. posting vendor/customer reclassification at business area level

Ans: A

 

55. Fast entry screens in FI are used to enter

a. customer and vendor line items

b. G/L line items

c. G/L, customer and vendor line items

d. Invoice receipt against GR

Ans: B

 

56. Easily entered document entry templates are called

a. sample document

b. account assignment models

c. worklists

d. recurring documents

Ans: B

 

57. Posting keys are used to decide

a. dr/cr indicator, field status of transaction screen, account types

b. dr/cr indicator, account types

c. dr/cr indicator, field status of transaction screen, account types, special G/L applicability

d. dr/cr indicator, field status of transaction screen

Ans: C

 

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

a. 2 local currencies, chart of account

b. 3 local currencies, chart of account

c. 2 local currencies, company code

d. 3 local currencies, company code

Ans: D

 

59. Cross company code transactions are carried out between company codes 0001 and 0002 in the year 1999. The accounting document created for 0001 is 9800005210 and that for 0002 is 9800004236. This is created from company code 0001. The cross company code number generated is

a. 000198000052100001

b. 980000423600020001

c. 9800005210000199

d. 9800004236000299

Ans: C

 

60. When you reverse a posted document, the document number must be

a. internal

b. external

c. internal or external

d. manually assigned

Ans: A

 

61. Financial statements can be generated in

a. local currency

b. document currency

c. controlling area currency

d. any currency for which customization is maintained

Ans: D

 

62. The views maintained for vendor master data are

a. general data, company code data

b. general data, company code data, purchasing data

c. general data, company code data, business area data

d. general data, company code data, business area data, plant data

Ans: B

 

63. Group key assigned to vendor master records control the following

a. it is a combination of up to three fields based on which open invoices are selected for automatic payment

b. basis for grouping several vendors for balance display

c. basis for classifying vendors for standard reporting

d. it is a combination of up to three fields based on which open invoices are selected for manual payment

Ans: A

 

64. Posting through a special ledger indicator affects

a. the main reconciliation account of the vendor or customer

b. the alternative reconciliation account mapped to the main reconciliation account of the vendor/customer

c. the alternative reconciliation account and the main reconciliation account of the vendor/customer

d. offsetting entry to the main reconciliation account of the vendor/customer

Ans: B

 

65. Check management with relation to outgoing payments is possible for open items for

a. vendors

b. vendors and customers

c. vendors, customers and G/L accounts

d. vendors and G/L accounts

Ans: B

 

66. If you do not want to enter a document with provision for updating the ledger on approval from authorized officials, you use the following functionality

a. parked document

b. sample document

c. account assignment model

d. recurring document

Ans: A

 

67. Accounting for down payment request involves

a. statistical items

b. parked items

c. noted items

d. regular items

Ans: C

 

68. Business area is determined for accounting documents generated automatically from logistics modules are on the basis of

a. plant-division combination

b. plant-division-distribution channel combination

c. plant-sales area combination

d. plant-division combination and sales area

Ans: D

 

69. When you carry out regrouping through AR or AP, the following activities are performed

a. reclassify where debtors have credit balance and vice versa

b. reclassify open items by remaining life

c. reclassify by changed reconciliation accounts

d. all of the above

Ans: D

 

70. When you carry out automatic payment, bank through which payment is effected is based on

a. ranking order of house banks

b. house banks maintained for specific business areas

c. house banks entered in the parameters of the run

d. ranking order and available balance in the accounts

Ans: D

 

71. Payment needs to be made against invoices with payment blocks created during invoice verification. Payment block can be removed by

a. release block in MM

b. changing the field entry from the invoice document

c. by reallocating in the payment proposal

d. cannot be removed

Ans: A

 

72. In SAP, a bill of exchange receivable items is cleared during

a. discounting the bill

b. transfer posting with clearing

c. reversal of contingent liability

d. clearing against outstanding advances from the customers

Ans: C

 

73. In which of the following processes do the original invoices remain as open items

a. residual payment

b. partial payment

c. charge off difference

d. distribute difference

Ans: B

 

74. How do you assign credit terms while drawing a bill of exchange on your customer?

a. by assigning payment terms to bill of exchange item

b. by assigning due date to the bill of exchange item

c. by assigning payment term to invoice item

d. by assigning due date to invoice item

Ans: B

 

75. GR/IR account is managed on open item basis, and the indicator balance in LC only is ticked. During a GR, it is credited with $100 (exchange rae USD:INR = 1:40). At the time of invoice receipt, exchange rate is Rs.41 = $1, Uf ckearubg fir $100 is done for the GR/IR account, what is the foreign currency exchange rate posting?

a. cr Rs.100

b. dr Rs.100

c. cr $100

d. no exchange rate posting

Ans: D

 

76. What are the different account types in SAP?

a. customer, vendor, GL

b. customer, vendor, GL, asset, material

c. customer, vendor

d. customer, vendor, asset

Ans: B

 

77. When several organizational units carry out dunning within a single company code, the SAP entity used to distinguish and control the process is called

a. dunning procedure

b. dunning key

c. dunning clerk

d. dunning area

Ans: D

 

78. If you do not want to dun a vendor beyond a particular level

a. use dunning key to limit the maximum level

b. use dunning block on the vendor master

c. use dunning clerk to block dunning

d. use dunning block on the dunning procedure

Ans: A

 

79. If you want to chose a different set of fields in a vendor account line item display, you choose a different

a. sort variant

b. totals variant

c. line layout

d. additional fields

Ans: C

 

80. What are the three data types in SAP

a. master data, transaction data, and balance data

b. master data, table data, and user data

c. master data, table data, and transaction data

d. table data, user data and transaction data

e. master data, table data and server data

Ans: C