Accounting Basics
Financial Setup
Financial Process
Banking Process
Controlling Reports
Fixed Assets
Cost Accounting

Knowledge quiz

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

1.

In the incoming payment, you see an asterisk in one of the invoice rows. What does the asterisk indicate?

Choose the correct answer.
2.

A bank reconciliation is performed before receiving the bank statement.

Choose the correct answer.
3.

Defining a payment method for a business partner is a pre-requisite for running the Payment Wizard.

Choose the correct answer.
4.

Which tool would you use to create outgoing and incoming payments in a batch?

Choose the correct answer.
5.

The main purpose of bank reconciliation is to ensure all transactions performed in the bank are recorded in the accounting ledger.

Choose the correct answer.
6.

The journal entry for an outgoing payment typically involves a vendor and a bank account.

Choose the correct answer.
7.

What is the result of all types of bank reconciliation?

Choose the correct answer.
8.

Which 2 payment means will typically involve a clearing (suspense) account in the incoming payment transaction?

There are two correct answers.
9.

What are 3 possible outcomes of the payment wizard run?

There are three correct answers.
10.

While reviewing the bank statement, you notice that a certain bank transfer amount is slightly different than the amount recorded in the ledger, due to rounding. How can you reconcile this record externally?

Choose the correct answer.
Learning
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