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eLearning 2007 Test Financials
1. Which word
best describes the structure of the Chart of Accounts used in the SAP Business
One General Ledger?
A. Multi-master
B. Flat
C. Hierarchical
D. Network
2. Can you
make any over-budget expenditures when using SAP Business One?
A. No. You
can never exceed your budget when using SAP Business One.
B. SAP
Business One keeps you from making over-budget expenditures only if you've set a
budget restriction that doesn't allow any over-budget expenditures.
C. Yes. SAP
Business One cannot stop you from going over budget. It just alerts you when
this happens.
D. SAP
Business One keeps you from making over-budget expenditures only if you have the
budget restriction Add-On.
3.
Which of the following word groups best describes the benefits found in SAP
Business One Accounting?:
A. Integrated, automated, and
transparent
B.
Automated, transparent, and redundant
C. Redundant, manual, and networked
4. SAP Business One allows you to operate with your
own individually structured Chart of Accounts.
True or False
6. Once you have selected a Segmented Chart of
Accounts, it is then not possible to change the Chart of Accounts type.
True or False
7. In the Chart of Accounts, active accounts...
A. can only be at Level 5
B. can be at Levels 2 to 5.
C. can be at any level.
11. When setting up General Ledger
opening balances...
A. Business Partner opening balances
should be entered before General Ledger opening balances.
B. No subsequent transactions must
be entered before opening balances are created.
C. Business Partner and General
Ledger opening balances are independent and have no interaction.
12. Business partner opening balances should be entered before the G/L open
balances.
True or False
13. For Withholding Tax, the Journal Entry making the tax
posting is not posted until the invoice is paid.
True or False
14. Tax Declaration Boxes are used for...
A. defining how tax is calculated on an invoice.
B.
defining how tax is displayed on invoice.
C.
defining how task is displayed on payment documents.
D.
assisting in submitting tax returns
15. You can assign tax codes to Business Partners, Items and Item groups.
True or False
16. A
customer has a tax rate of 15%. What tax rate will appear on documents for this
customer?
17.
In SAP Business One, you can set separate global tax rates for sales and
purchasing. 18.
Which of the following is NOT a setting of defining
a tax group? 21. Unless you tick the 'Manage Expenses in Documents' field in Documents
Settings, you will not be able to specify Additional Expenses / Freight to be included in
your 1099 calculation. 22. Once an item is defined as ‘Use Tax’, Journal Entries for item transactions will
contain the Use Tax account on the credit side. Which other setting needs to be
checked? 24. Which is the correct
action to follow in order to run and submit a 1099 Report?
25. Correcting Journal Entry can be done by?
26. A Reversing Journal can be set to reverse on...
27. Before Reversal, if you decide
otherwise, you can cancel the reversal from the Reverse Transactions Window. 28. Reversing Journal reverse posting will be
made... 30. If you decide otherwise,
you can cancel the reversal of a Journal by entering the Journal Document and
removing the tick from the 'Reversal Check'. 31. It is not
possible to remove a Journal Entry once it has been saved in a Journal Voucher
within SAP Business One. 32. It is
possible to override the percentage allocations in templates. 33. I
A 15% in all
cases.
B 15%,
unless the item has its own tax rate.
C 15%,
unless the company has a global tax rate for sales.
D
Whatever the tax rate for the item is.
True or False
A. EU
B.
Withholding Tax
C. Goods
shipment
D.
Triangulation
True or False
20.
When raising an A/P Invoice for an item, the default tax code will be based
on...
A. the default tax code of the company under ‘General Settings’
B. the default tax code in the Item Master Record
C. the default tax code of the receiving warehouse
True or False
A. The warehouse must be defined as ‘Allow Use Tax’.
B. On the 'Inventory' tab, under 'General Settings', the ‘Allow Use
Tax’ must be checked.
C. In the Item Master Record, the item must not be defined as a stock
item.
D. Sales Tax Reports can only be run by 'Sales Jurisdiction' and not 'Sales Tax
Code'
23.
You can create an unlimited number of 1099 Form and Box combinations in SAP
Business One.
True or False
A. Financials - Financial Reports - Year End - 1099 Report - Click on
'Submit'
B. Reports - Financials - Accounting - 1099 Report - Click on 'Submit'
C. Reports - Financials - Accounting - 1099 Report - Click on 'Print'
A. Cancel a debit with a negative
debit or delete the original Journal Entry
B. Cancel a debit with a credit, or delete the original Journal Entry
C. Cancel a debit with a negative debit or cancel a debit with a credit
A. any date after the posting date.
B. any first day of a new accounting period.
C. any first day of a new accounting year.
D. any date from the day after the posting
date, until the end of defined periods
True or False
A. immediately
B. when the system date equals the reversal
date
C. when the system date is equal or later
than the reversal date, and the operator chooses to execute the reversal
A. only after posting and before reversal
B. after posting and before
reversal, for periods from the posting period to just before the reversal period
C. after posting and after reversal, for
periods from the posting period to just before the reversal period
True or False
True or False
True or False
True or False
34. During
the Period-End Closing process, 2 Journal Entries are created for each selected
P&L account
True or False
35.
When a posting period has the status Unlocked Except Sales, you cannot:
A. Add new purchasing documents
B. Add new sales documents
C. Add new Journal Entries
D. Perform any transactions
40. A check against the budget will be performed in documents when
41. When
adding a document, you can perform a check against the budget by 42. Budget
distribution Methods are relevant only for working with an annual budget. 43. In the
course of routine work, deviation from the budget is checked against 44. The same budget scenario can be
assign to several fiscal years. 45. How
can you copy a budget scenario from another company? 46. The
budget amount entered for the parent G/L Account, and distributed among its
linked accounts is deducted from the budget amount of the parent account. 47. The budget is checked against the: 48. It is possible to
make manual changes in the budget of each month. 49. Which of these reports can you run in Business
One? 50. The purpose of "Center_z" is...
51.
Profit Centre can have costs automatically spilt by distribution rules,
however projects cannot. 53. The accounts drawers displayed
in a Balance Sheet are: 55. When displaying Business Partners in a Trial Balance, their
balances are displayed: 57. In a Profit and Loss Statement, the Multi-Year Cumulative column
displays the G/L Account balances from the beginning of work in the company.
58. The Profit Period is displayed in: 59. You would like to run the Cash Flow report
to analyze data of a specific cash account. You open the Selection Criteria
window but in the Cash tab, the required account is not displayed. What
might be the reason? 60. In a comparison report
you can compare between 2 posting periods in the same company.
A. Purchase Orders
and Sales Orders
B. Sales Orders and Quotation
C. Purchase Orders and
Goods Receipt PO's
D. Goods Receipt PO's and Deliveries
True or False
A. All the budget scenarios defined in the
company
B. The main Budget only
C. The Optimistic Budget only
D. The Pessimistic Budget
True or False
A. It is not possible to copy budget
scenarios in the same company
B. Use the Copy Budget
Scenario option
C. Use the Import Budget Scenario
option
True or False
A. Credit side
B. Debit side
C. Credit and Debit sides
True or False
A. Balance Sheet Budget Report
B. Over Budget Report
C. Trial Balance Budget Report
D. Profit and Loss Statement Budget Report
E. Answers A, C, and D are correct
A. to collect rounding differences.
B. for Balance Sheet transactions.
C. for transactions with no other Profit Center.
True or False
52. Projects are entered
directly into transactions, unlike Profit Centers that are entered by their
Distribution Rule.
True or False
A. Assets, Liability
and Revenues
B. Assets, Equity and
Revenues
C. Asset, Expenses and Revenues
D. Assets, Liabilities and Equity
54.
The Profit Period in a Balance Sheet
displays
A. The profit of the period, only in a
Periodic report
B. The total balances of the profit and
loss accounts
C. The amount calculated as Assets
minus Equity
D. The amount calculated as Equity plus
Liabilities
A. At the beginning of the report
B. Right after the total amount of the drawers
C. Customers are displayed after Revenues and vendors after Liabilities
56. In a Trial Balance, the best way to
display opening balances from the beginning of work in the company is by:
A. Selecting Display Opening Balance for Period and OB From the Start of
Company Activity
B. Selecting Display Opening Balance for Period and OB From the
Start of Fiscal Year
C. Choosing the first posting period defined in the company and selecting
Display Opening Balance for Period
True or False
A. The Trial Balance and the Balance
Sheet
B. The Trial Balance and the Profit and Loss Statement
C. The Profit and Loss Statement and the Balance Sheet
D. All the 3 reports
A. The account is not selected as "Reval.
(Currency)" in the Chart of Accounts
B. The account is not selected as "Cash Account" in the Chart of Accounts
C. The account is defines in a foreign currency in the Chart of
Accounts
D. The account has no transactions in the selected date range
61. You run a Balance Sheet and revaluate the
amount by a foreign currency. However, in the report, only a few G/L
accounts are actually revaluated. What might be the reason?
A. No exchange rates are defined for the selected foreign currency
B. Only G/L Accounts defined in a foreign currency can be revaluated
C. Only G/L Accounts defined as Reval. (Currency) in the Chart of Accounts
can be revaluated
62.
You would like to revaluate a
financial report to Swiss Francs, with a rate of 0.75. The correct way to do
so is setting the Revaluation Method by:
A. Posting dates
B. Due Date
C. Fixed Rate
D. Average Rate from Interval
63. What will happen if you select the "Add Period Closing" box?
A. Period-end closing Journal Entries will not be included in the report
B. All Profit and Loss accounts which were closed by the
Period-End Closing process will show the account balance prior to the
closing process
C. All Profit and Loss accounts which were closed by the Period-End Closing
process will show a zero balance
D. No Profit and Loss accounts which were closed by the Period-End Closing
process will show
64. Select
the true statement:
A. The aging report shows all receivables
B. The aging report shows only aged receivable
65. What does the Future Remit column show?
A. All payables that
are due to the vendor