Quiz Detail

Q1 . There is no sequence of importance in the close transaction steps ... all that matters is that they all get performed.

A True

B False

Q2 . With regard to foreign currency translation rates

A The rate with a validity date closest to the posting date without being in the future is the rate used.

B Rate have to be entered before the "old" period is closed.

C Rates are only entered once a month on the 15th.

D Only one rate type can exist for each currency combination.

Q3 . A balance sheet and income statement can be run at any time.

A True

B False

Q4 . The FIRST closing step that needs to be performed is?

A FK10N

B KKAK

C MMPV

D VKM1

Q5 . Asset depreciation should be run before the GR/IR clearing.

A True

B False

Q6 . The month-end close process that involves production orders entails the following:

A Run asset depreciation, then billing due list, and then calculate overhead.

B Review blocked billing docs, then process vendor payments, and then execute order settlement.

C Calculate overhead, calculate WIP, calculate variances, and then execute order settlement.

D Review PO listing for goods received, not invoiced, calculate variances, and then post parked docs.

Q7 . FI Period Close t-code and related settings.

A Can only be executed one time, the first day of the new period.

B Can be set by module individually, all FI modules collectively and can be opened or closed as often as deemed necessary.

C Can only be controlled by sub-module, not collectively.

D Is part of MMPV.

Q8 . Which step in invoice creation enters the invoice into the SAP system after it has been parked?

A Completing an invoice

B Simulating an invoice

C Posting an invoice

D Answers A and C

Q9 . What t-code displays PO goods delivered, not invoiced?

A F.19

B F-32

C VF04

D ME2L

Q10 . All journal entries in GL must be posted before running a P&L report in SAP.

A True

B False

Month End Closing Process! Finance Quiz

Q1 . There is no sequence of importance in the close transaction steps ... all that matters is that they all get performed.

Q2 . With regard to foreign currency translation rates

Q3 . A balance sheet and income statement can be run at any time.

Q4 . The FIRST closing step that needs to be performed is?

Q5 . Asset depreciation should be run before the GR/IR clearing.

Q6 . The month-end close process that involves production orders entails the following:

Q7 . FI Period Close t-code and related settings.

Q8 . Which step in invoice creation enters the invoice into the SAP system after it has been parked?

Q9 . What t-code displays PO goods delivered, not invoiced?

Q10 . All journal entries in GL must be posted before running a P&L report in SAP.