Knowledge quiz

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

Which of the following statements regarding financial closing in SAP Business ByDesign are true?

There are three correct answers.

Closing steps classify postings according to when they were made during period-end or year-end closing.

Additional posting periods are used to reflect postings related to financial closing activities.

You can open or close accounting periods separately for each closing step.

The use of closing steps allows you to perform monthly, quarterly, or yearly closings in a similar way.

Closing steps define the financial closing activities.

How is the journal entry type determined in SAP Business ByDesign?

There are three correct answers.

A journal entry type is always automatically determined based on the assigned business transaction type.

A journal entry type must be manually selected when creating a journal entry voucher.

A journal entry voucher is assigned to a business transaction, which is assigned to a business transaction type, which leads to a journal entry type.

A journal entry type is assigned to a business transaction type.

A valuation run is assigned to a business transaction, which is assigned to a business transaction type, which leads to a journal entry type.

Which reports use the same reporting structure?

Choose the correct answer.

Earned profit analysis and income statement by nature of expense

Income statement by nature of expense and income statement by function of expense

Earned profit analysis and income statement by function of expense

Order profit analysis and income statement by nature of expense

Which of the following statements regarding reversals are true?

There are two correct answers.

A reversal journal entry is generated for each original journal entry. Each reversed journal entry receives a reference to the reversal journal entry.

Journal entries can only be reversed via their source document.

The system creates reversal journal entries as copies of the source documents.

Reversals are always done on the subsequent journal entry.

You need to create a VAT posting manually. Why do you have to use a manual VAT entry instead of a journal entry voucher?

There are three correct answers.

Because each VAT entry is entered in the tax register as an open tax item

Because each VAT entry is automatically posted to the respective general ledger account

Because a journal entry voucher does not include all tax cases

Because a journal entry voucher will not create new entries in the operational business area or in any register

Because a journal entry voucher will post only in one set of books

What is the purpose of financial reporting structures?

Choose the correct answer.

To define the structure of different financial statement reports

To select the appropriate general ledger accounts in your financial statement reports

To define the print layout for your financial statement reports

To provide characteristics in your financial statement reports

You want to prevent source documents from being created for closed accounting periods. Which general ledger function can you use?

Choose the correct answer.

Closing steps

Process control

Closing cockpit

Business task

Which of the following attributes can be used in the profit reports to analyze market segment profitability?

There are three correct answers.

Sales Unit

Fixed Asset

Country

Supplier

Product Category

What is the basis of the reporting structure type “Income Statements by Function of Expense”?

There are two correct answers.

Price components

Account groups

General ledger accounts

Functional areas

10.

Which of the following statements regarding the function of expense method is true?

Choose the correct answer.

The system uses the function of expense method, which means that expenses for sales documents are treated as costs of goods sold.

The structure of an earned profit analysis is the same as the structure of an income statement by nature of expense.

When using revenue recognition, the cost of goods sold are treated directly as expenses for sales objects.

The function of expense method considers changes of inventory.