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SAP FICO Certification Questions - 1

Source: Interview Notes
Many SAP FICO Consultants are keen on finding the SAP FICO certification questions. I am including few of the SAP FICO certification questions on the Management Accountant Blog. You can give a try on the following questions. End users on SAP can test their knowledge about the system.

1. A chart of accounts ( Multi Choice)
A. can be allocated to multiple company code
B. can be defined as the group chart of accounts
C. only contains definitions for G/L accounts
D. can only allocated to one company code.

2. A client. ( Single Choice)
A. may only contain a single chart of accounts
B. may contain multiple charts of accounts
C. may only use one currency type
D. may only have one controlling area

3. Identify the correct statement(s) relating to how the main business processes are integrated in the SAP R/3 System. ( Multi Choice)
A. A purchase requisition is a documented request to purchase goods or services. In SAP it can be created manually or automatically.
B. A goods receipt is the recording of the movement of materials into the warehouse. In SAP, a financial document which updates the inventory account and an accrued liability account is created
C. The Invoice receipt and verification process compares the vendor invoice with the purchase order and goods receipt. However, the corresponding financial transaction must be entered through the financial module of R/3.
D. In SAP, payment processing reduces the liability to a vendor and a company's cash balance, records discounts taken and disburses
E. A customer delivery is the transfer of the ownership of goods. A customer delivery includes, creation of a delivery document, picking the goods for shipment; physically transferring the goods to the customer and financially recording the goods issue.

4. Identify the correct statement(s) regarding organizational elements within the R/3 System. ( Multi Choice)
A. The Sales area combines the sales organization, distribution channel, and division.
B. The Purchasing Organization is responsible for the purchasing for the only one plant.
C. A plant is a location in which inventory quantities and values are stored or manufactured.
D. A Controlling area can comprise several company codes using different chart of accounts but must operate in the same currency.
E. A profit center is used to generate income statements and operating profit statements.

5. Which of the following statements is true ? ( Single Choice)
A. A Company code can belong to more than one controlling area.
B. A plant must be allocated to a company code
C. A controlling area and a company code must have the same local currency.
D. A business area and a company code are assigned to each other in the corporate structure IMG

6 . Which of the following statements about year-end closing are correct?(Multi)
A. You carry out year-end closing before the fiscal year change.
B. During year-end closing, the program checks if the year-end closing can be carried out.
C. Once the year-end closing was successfully completed, the system automatically changes certain entries in Customizing (closed fiscal year)
D. You cannot create and post to new fixed assets until The year-end closing is successfully completed
E. You can only conduct year-end closing on June 30 or December 31 of each year.

7. What steps have to be completed before you can generate asset classes form G/L accounts? (Multi)
A. Account selection
B. Account determinations
C. Number range intervals
D. Screen layout variants
E. Asset classes

8. For each depreciation area you need to specify whether you want to (Multi)
A. post depreciation at periodic intervals to the general ledger
B. post asset values at periodic intervals
C. automatically post values online
D. use index classes
E. post to business areas

9. Please click on the button next to the correct answer.(Multi)
A. The business area can run across many company codes, i.e. all company codes can post in all business areas.
B. A company code may belong to more than One Controlling Area.
C. Each company codes uses exactly one chart of accounts and one chart of depreciation.
D. Business areas are used to create internal balance sheets and income statements.

10. The time of the first acquisition posting to the asset sets the following fields in the master of asset(Multi)
A. the depreciation start date per depreciation area
B. the cost enter to be hit through depreciation
C. the date of capitalization
D. the depreciation key

11. Usually one Chart of Depreciation is defined for each country. At which level is the chart of Depreciation created?(Single)
A. at Company Code level
B. at Client level.
C. at Chart of accounts level.
D. at Business area level.
E. at System level.

12. What are the functions asset class?(Multi)
A. Asset number assignment.
B. Cost Center determination.
C. Screen layout
D. Account allocation
E. Definition of default value.

I would recommend further reading SAP FICO Questions

Santosh Puthran

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