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eLearning 2007 Test Banking

High Confidence

1. Which of the following is a benefit of the SAP Business One Payment Wizard?
A. The payments are executed right after you run the recommendation report.
B. The recommendation report allows you to accept or reject each payment document recommendation.
C. The Payment Wizard never makes you define selection criteria."

2. Why do you not need to enter an account code and branch number when you initially create a bank definition?
A. These details should have been entered on a pre-requitisite screen.
B. It is merely a record of the financial institution.
C. Only House Banks require this information.

3. Each SAP Business One company can have any number of House Banks.
True or False

4. A SWIFT code can be assigned to a bank definition, facilitating...
A. SAP Business One bank account reconciliations.
 B. Check printing.
 C. International bank transfers.

5. What type of bank accounts can be linked to a Business Partner?
 A. House Banks only.
B. Business Partner banks only.
C. House Banks and Business Partner banks.

6. Bank definitions for House Banks are used for Outgoing Payments by check.
True or False

7. When trying to define a bank account for a Business Partner, the bank you require is not available. The reason for this is...
 A. you must create the bank here first.
B. it was specified as ‘House Bank Only’
C. it has not yet been defined.

8. To action an agreement for payment to be made half on the due date and half a month later, the Installments table should show rows...
A. Month 0, Days 30, 50%; Month 0, Days 60, 50%
B. Month 1, Days  0, 50%; Month 2, Days 0, 50%
C. Month 0, Days 0, 50%; Month 1, Days  0, 50%
 D. Month 1, Days 30, 50%; Month 2, Days 60, 50%

9. SAP Business One does not support real time Credit Limit checking.
 True or False

10. When a user with full authorization enters a document and receives a Credit Limit warning, there will always be an option to override it.
 True or False

11. Tolerance Days enable you to...
 A. have extra flexibility in setting Payment Terms.
B. adjust standard Payment Terms for individual Business Partners.
C. have a day when you can safely contact people you owe money to

12. A company has its Credit Limit set to check A/R Invoices, Deliveries and Sales Orders. When a user with full authorization attempts to create a Sales Order where the credit limit is exceeded for that customer...
A. the user is warned about the limit being exceeded and cannot continue with the order.
B. the user is only warned about the limit being exceeded, however can continue to create the order.
C. the user cannot actually select a customer that has exceeded their Credit Limit - they become greyed out.

13. The Commitment Check Limit is equal to the Credit Check limit plus...
A. the value of shipments not yet invoiced.
B. the Business Partners Account Balance.
C. the value of Orders not yet shipped.
D. the value of Checks not yet deposited.

14. In the 'Define Credit Card Payment' window, the range of dates under 'Voucher Date of Reciept' indicates the date on which you receive the payment amount from the credit card company.
True or False

15. In the 'Define Credit Cards' window, you need to define:
A. Only those credit card brands your customers use.
B. Only those credit card brands your vendors use.
C. Credit card brands used by your company and your customers.
D. Credit card brands used by your company, your customers and vendors.

16. In the 'Define Credit Card Payment Methods' window you can define a different method for each credit card.
True or False

17. Choose 'No' in the 'Payments' field in the 'Define Credit Card Payment Methods' window if:
A. You would like to split the Incoming Payment's Journal Entry into a number of rows
B. You offer your customers to divide their payment into several payments
C. You do not offer your customers to divide their payment into several payments however, the credit company does
D. You do not offer your customers to divide their payment into several payments.

18. Select ‘Manually' in the 'Submit credit vouchers' field in the 'General Settings' window if:
A. You would like that the due dates of the Journal Entry created by a deposit, will be determined according to the Incoming Payment's due date
B. Your company uses manual machinery
C. You want that the due dates of the Journal Entry created by a deposit will be determined according to the posting date recorded in this deposit
D. Your company is connected to the credit card company on-line
E. Answers B and C are correct

19. In the ‘Payments Terms' tab page under Business Partners Master Data you can record the details of all the credit cards used by your costumers.
True or False
20. In order to display a split credit card voucher, you need to select in the Payment Means window. The option in the field Split Credit Voucher.
True or False

21. In the Payment Means window, the field No. of Payments is blocked. Why?
A. The selected Payment Method is defined as Credit (Cr).
B. The Amount Due is not sufficient for payments.
C. A Telephone Approval is required for allowing payments.
D. The selected Payment Method is not defined as Payments (Yes) or Credit (Cr).

22. In SAP Business One, Cash, Check, Credit Card and Bank Transfer can be used as payment means for Outgoing Payments.
True or False

23. When printing the remittance overflow on check stock, it is possible to specify the number of copies for print.
True or False

24. When printing the remittance overflow on plain paper, it is printed after the checks.
True or False

25. SAP Business One supports two options when printing Pre-numbered checks. One of these is incorrect. Which?
A. export to MS Excel then print.
B. print the remittance overflow on the next check stub and void the check.
C. print the remittance overflow on plain paper.

26. Pre-numbered checks can be defined at bank level.
True or False

27. When configuring Pre-numbered checks at bank account level, it is possible to...
A. set Payment Method for bank account.
B. edit the print layout of checks.
C. change the next available check number.

28. The check register report displays all incoming checks that have been posted to the system.
True or False

20. A check can be voided after it has been printed.
True or False

30. Alternate Pay to function can be achieved by defining different Bill to addresses and bank information for the vendor.
True or False

31. Down Payments Invoices don't include tax.
True or False

32. Down Payments are relevant for both sales and purchasing documents; however G/L Accounts should be defined only for sales documents.
True or False

33. When basing fully a Down Payment Invoice on a Sales Order:
A. The Sales Order will be closed.
B. The Sales Order will stay open.
C. The Sales Order will be cancelled.
D. The Sales Order will appear in grey color.

34. It is possible to link a partially paid Down Payment Invoice to a regular Invoice
True or False

35. When basing fully a regular Invoice on a Down Payment Invoice.
A. The Down Payment Invoice will be closed.
B. The Down Payment Invoice will stay open.
C. The Down Payment Invoice will be cancelled.
D. The Down Payment Invoice will appear in grey color.

36. In the Down Payment Request process a final Invoice will be created without assigning any Down Payment Request
True or False

37. Down Payment Requests:
A. Can be based on Sales Orders.
B. Do not create any Journal Entries.
D. Cannot be assigned to regular invoices.
E. Can only be paid in full.
F. All the above answers are correct.

38. An invoice that was fully paid by an Incoming Payment:
A. Has to be reconciled manually by the user
B. Is partially reconciled by the system
C. Is reconciled automatically by the system
D. Will be displayed as an open transaction in the Reconciliation window

39. An external reconciliation is when an open transaction in the books is matched against an external statement
True or False

40. In the United States, Canada and the United Kingdom:
A. You type the external statement data in the Process External Bank Statement window
B. External reconciliations are created automatically by the system
C. It is not possible to perform external reconciliations
D. You type an Ending Balance in the External Bank Reconciliation window

41. When choosing Reconcile in the Reconciliation Bank Statement window, a single Journal Entry is created for the bank account.
True or False

42. In manual Internal Reconciliations, the system displays open transactions:
A. On the Debit side and on the Credit side
B. In the books and in the external bank statement
C. In the Business Partner account and in the bank account
D. In the Process External Bank Statement window and in the External Bank Reconciliation window
Answers

Full (Questions, Answers / My Mistakes)

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