Knowledge quiz

It's time to put what you've learned to the test, get 8 right to pass this unit.

Which of the following definitions are available in the Advanced G/L account determination method?

There are three correct answers.

Default account per user defined field

Default account per ship-to address

A combination of different default accounts

Default account for a service type invoice

Default accounts in the item master data

What characterizes the balance sheet accounts?

There are two correct answers.

They are typically located in the top 3 drawers of the chart of account

They appear in the trial balance report

They are typically located in the lower drawers of the chart of accounts

They appear in the profit and loss report

The bookkeeping balance of the balance sheet account has to be cleared every year.

Choose the correct answer.

True

False

The Balance Sheet Accounts reflect the monitory value of the company

Choose the correct answer.

True

False

The accountant wants to define a set of default accounts according to business partner groups. Therefore, the company should use the advanced G/L account determination window

Choose the correct answer.

True

False

You cannot change the Local or the System Currency once you have started posting transactions in the company.

Choose the correct answer.

True

False

Any rule you define in the advanced form will have a higher priority than the G/L Account Determination window.

Choose the correct answer.

True

False

Foreign currency transactions are recorded simultaneously in the local currency.

Choose the correct answer.

True

False

Your local currency is Euro. You have several customers located in the United States and their currency is USD. When you create marketing documents for these customers, you would like the system to automatically enter a price in USD. How can you define this in the system?

Choose the correct answer.

In the price list linked to these customers, include prices in USD in the additional currency column

Define the currency of the US business partners as All Currencies

Set the system currency to USD and update the daily exchange rate

10.

In which drawer in the chart of accounts can we find the account payables?

Choose the correct answer.

Assets

Liabilities

Capital and reserves

Turnover