Fixed and Current Assets

1.

The three-step reconciliation involves the purchase order, goods receipt, and invoice receipt.

Choose the correct answer.

True

False

2.

You can change the fiscal year in FI-AA before the last period of the old fiscal year.

Choose the correct answer.

True

False

3.

The periodic inventory method involves counting all stocks physically on the balance sheet key date.

Choose the correct answer.

True

False

4.

What should you check if the balance of the GR/IR account is not zero at the purchase order item level on the balance sheet key date?

There are two correct answers.

Check if the goods were invoiced by the key date, but have not yet been delivered.

Check if the goods were ordered by the key date, but have not been received.

Check if the goods were delivered by the key date, but have not yet been invoiced.

Check if the goods were produced by the key date, but have not been invoiced.

5.

The depreciation position program must be used to record ordinary (book and cost accounting) depreciation.

Choose the correct answer.

True

False

6.

Which of the following are the different history sheet groups that each version of asset history sheets can contain?

There are three correct answers.

Book values at the end of the fiscal year

Acquisitions

Imputed interest

Reposting

7.

In stock valuation, which of the following groups of stocks are valuated?

There are three correct answers.

Raw materials, supplies, and consumables

Work in process

Goods invoiced

Finished goods

8.

The settlement of the production order displays the value of the work in progress (WIP) on the balance sheet and, at the same time, posts the change in stock in the profit and loss statement.

Choose the correct answer.

True

False

9.

What checks does the year-end closing program perform?

There are two correct answers.

Depreciations are posted in full.

Assets are complete and error-free.

Depreciation lists and the asset history sheet have been checked.

Last fiscal year has been updated.

Knowledge quiz

The three-step reconciliation involves the purchase order, goods receipt, and invoice receipt.

You can change the fiscal year in FI-AA before the last period of the old fiscal year.

The periodic inventory method involves counting all stocks physically on the balance sheet key date.

What should you check if the balance of the GR/IR account is not zero at the purchase order item level on the balance sheet key date?

The depreciation position program must be used to record ordinary (book and cost accounting) depreciation.

Which of the following are the different history sheet groups that each version of asset history sheets can contain?

In stock valuation, which of the following groups of stocks are valuated?

The settlement of the production order displays the value of the work in progress (WIP) on the balance sheet and, at the same time, posts the change in stock in the profit and loss statement.

What checks does the year-end closing program perform?